Machine Tool Technologies Research Foundation
- Assets
- $6.7m
- Revenue
- $274.0k
- Investments
- $0.0
- Employees
- 2
- Location
- San Francisco, CA
- Founding
- 05/2003
- Data as of
- 12/2023
- EIN
- 03-0493008
Organization Overview
Machine Tool Technologies Research Foundation is located in San Francisco, CA. The organization was established in 2003. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Machine Tool Technologies Research Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Machine Tool Technologies Research Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Machine Tool Technologies Research Foundation generated $274.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (21.4%) each year. All expenses for the organization totaled $873.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIP FUNDS AND EQUIPMENT USAGE TO UNIVERSITY FACULTY MEMBERS, STUDENTS AND POST GRADUATE RESEARCHERS TO STUDY AND PERFORM RESEARCH IN THE FIELD RELATED TO MACHINE TOOL SYSTEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIP FUNDS AND EQUIPMENT USAGE TO STUDENTS, POST GRADUATE RESEARCHERS AND PROFESSORS TO STUDY AND PERFORM RESEARCH IN THE FIELDS RELATED TO MACHINE TOOL SYSTEMS.
EXPANSION OF MISSION AND PROGRAM SERVICES:OUR MISSION IS TO ACHIEVE HIGHEST QUALITY TECHNOLOGY IN THE FIELD OF MACHINE TOOL AND ITS RELATED INDUSTRIES. TO ACHIEVE THIS, MACHINE TOOL TECHNOLOGY FOUNDATION WILL DO THE FOLLOWING:1)TO PROVIDE SCHOLARSHIP FUNDS TO THE STUDENTS AND POST GRADUATE RESEARCHERS TO STUDY AND PERFORM RESEARCH IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.2)TO DONATE FUNDS TO THE EDUCATIONAL INSTITUTIONS TO PROMOTE EDUCATION AND RESEARCH ACTIVITIES IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.3)TO PROVIDE THE FREE LOAN OF EQUIPMENT AND SOFTWARE TO EDUCATORS, STUDENTS, PROFESSIONAL RESEARCHERS AND TECHNICAL SPECIALISTS TO CONDUCT RESEARCH AND EDUCATIONAL ACTIVITIES IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.4)TO CONDUCT A SURVEY OF MACHINE TOOL TECHNOLOGIES AND PUBLISH THE RESULTS.5)TO PROVIDE FUNDS TO EDUCATOR, STUDENTS, PROFESSIONAL RESEARCHERS AND TECHNICAL SPECIALISTS TO PREPARE PROMOTIONAL MATERIALS TO ENCOURAGE RESEARCH AND EDUCATIONAL ACTIVITIES IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.6)TO PROVIDE FUNDS TO EDUCATORS, STUDENTS, PROFESSIONAL RESEARCHERS AND TECHNICAL SPECIALISTS TO CONDUCT A SURVEY OF THE CURRENT EDUCATIONAL AND RESEARCH ACTIVITIES OF EDUCATIONAL INSTITUTIONS, RESEARCH INSTITUTES, AND NON-PROFIT ORGANIZATIONS IN THE FIELDS RELATED TO MACHINE TOOL SYSTEMS. THE SURVEY SHALL ALSO IDENTIFY THE EDUCATIONAL AND ENGINEERING HUMAN RESOURCE NEEDS OF THE MACHINE TOOL SYSTEMS INDUSTRIES. THE PURPOSE OF THE SURVEY IS TO IDENTIFY THE CURRENT STATUS OF EDUCATIONAL AND RESEARCH PROGRAMS OF EDUCATIONAL INSTITUTIONS, RESEARCH INSTITUTES, AND NON-PROFIT ORGANIZATIONS IN THE AREA OF MACHINE TOOL SYSTEMS AND COMPARE THESE PROGRAMS WITH THE EDUCATIONAL NEEDS IN MACHINE TOOL RELATED INDUSTRIES.7)TO PAY THE PROFESSIONAL ASSOCIATION FEES FOR MERITORIOUS STUDENTS, PROFESSIONAL RESEARCHERS AND EDUCATORS WORKING IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.8)TO PROVIDE FUNDS AND ADMINISTRATIVE SERVICES TO FACILITATE CONFERENCES AND MEETINGS FOR STUDENTS, EDUCATOR, PROFESSIONAL RESEARCHERS, AND TECHNOLOGY SPECIALISTS IN THE FIELD OF MACHINE TOOL TECHNOLOGIES.9)TO FINANCE TRAVEL AND REGISTRATION FEES SO THAT EDUCATORS, MERITORIOUS STUDENTS, AND PROFESSIONAL RESEARCHERS MAY ATTEND PROFESSIONAL CONFERENCES, MEETINGS, AND SEMINARS IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.10)TO FINANCE TRAVEL EXPENSES SO THAT MERITORIOUS STUDENTS, PROFESSIONAL RESEARCHES AND EDUCATORS MAY VISIT EDUCATIONAL AND RESEARCH INSTITUTES, PUBLIC ORGANIZATIONS AND INDUSTRIES TO EXCHANGE TECHNOLOGICAL KNOWLEDGE OR STUDY THE EMERGING TECHNOLOGIES IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.11)TO PROVIDE FUNDS TO EDUCATORS, PROFESSIONAL RESEARCHES, MERITORIOUS STUDENTS, AND ENGINEERING SPECIALISTS TO PUBLISH THEIR KNOWLEDGE IN FIELDS RELATED TO MACHINE TOOL SYSTEMS.12)TO HOLD CONFERENCES ON RESEARCH DEVELOPMENTS IN THE FIELD OF MACHINE TOOL SYSTEMS TECHNOLOGIES.13)TO COMMUNICATE WITH EDUCATORS, ENGINEERS AND SPECIALISTS IN FIELDS RELATED TO MACHINE TOOL TECHNOLOGIES TO SPREAD UNDERSTANDING ABOUT THE LATEST INFORMATION AND ENCOURAGE COLLABORATION AMONG THE EXPERTS.VISIONMACHINE TOOL TECHNOLOGIES FOUNDATION IS ENVISIONED AS A DIVERSIFIED FOUNDATION WHICH VALUES SERVICE THROUGH FIELDS OF ACADEMIA AS WELL AS INDUSTRY.TO GROW INTERNATIONALLY WELL KNOWN FOUNDATION, WE STRIVE TO MAINTAIN FOUNDATION WITH DIGNITY AND HIGHEST ETHICAL STANDARDS. MACHINE TOOL TECHNOLOGIES FOUNDATION IS ENVISIONED AS A DIVERSIFIED FOUNDATION WHICH VALUES SERVICE THROUGH FIELDS OF ACADEMIA AS WELL AS INDUSTRY.TO GROW INTERNATIONALLY WELL KNOWN FOUNDATION, WE STRIVE TO MAINTAIN FOUNDATION WITH DIGNITY AND HIGHEST ETHICAL STANDARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kazuo Yamazaki President | OfficerTrustee | 24 | $144,000 |
Masahiko Mori Director | Trustee | 1 | $0 |
Natsuo Okada Director | Trustee | 1 | $12,000 |
Yukiko Yamazawa CFO | Officer | 24 | $65,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $166,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,000 |
| Total Program Service Revenue | $0 |
| Investment income | $108,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,010 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $132,337 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $221,000 |
| Compensation of current officers, directors, key employees. | $116,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,013 |
| Fees for services: Accounting | $18,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $946 |
| Office expenses | $2,700 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,297 |
| Travel | $42,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $272,030 |
| Insurance | $11,342 |
| All other expenses | $0 |
| Total functional expenses | $873,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,288 |
| Savings and temporary cash investments | $4,132,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $321 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,453 |
| Net Land, buildings, and equipment | $2,312,537 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $69,321 |
| Total assets | $6,714,178 |
| Accounts payable and accrued expenses | $1,752 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $54,124 |
| Total liabilities | $55,876 |
| Net assets without donor restrictions | $1,807,565 |
| Net assets with donor restrictions | $4,850,737 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,714,178 |
Grants Awarded
Over the last fiscal year, Machine Tool Technologies Research Foundation has awarded $19,087 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF CA DAVIS DEPT OF MECHANICAL AND AEROSPACE ENGINEERING PURPOSE: TOOLS GIVEN FOR USE IN UNIVERSITY PROGRAMS. | $12,764 |
UNIVERSITY OF WISCONSIN - MADISON PURPOSE: TOOLS GIVEN FOR USE IN UNIVERSITY PROGRAMS. | $6,323 |