Polymer Processing Institute At Njit
- Assets
- $5.5m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 13
- Location
- Newark, NJ
- Founding
- 04/1984
- Data as of
- 06/2022
- EIN
- 22-2458275
Organization Overview
Polymer Processing Institute At Njit is located in Newark, NJ. The organization was established in 1984. According to its NTEE Classification (U33) the organization is classified as: Chemistry & Chemical Engineering, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Polymer Processing Institute At Njit employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polymer Processing Institute At Njit 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 06/2022, Polymer Processing Institute At Njit generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $5.0m during the year ending 06/2022. While expenses have increased by 16.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE RESEARCH, EDUCATION, PUBLICATIONS TO THE POLYMER FIELD FOR MEDICAL DEVICES AND PHARMACEUTICAL APPLICATIONS, PACKAGING, RECYCLING, PAINTS AND COATINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND DEVELOPMENT-PROVIDING RESEARCH, EDUCATION AND PUBLICATIONS TO THE POLYMER FIELD FOR MEDICAL DEVICES AND PHARMACEUTICAL APPLICATIONS, PACKAGING, RECYCLING, PAINTS AND COATINGS, ETC. LABS AND EQUIPMENT ARE AVAILABLE FOR STUDENTS DOING RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ming Wan Young President | OfficerTrustee | 40 | $256,887 |
Nikolaos Ioannidis Scientist | 40 | $107,596 | |
Kasia Strycharz Director | OfficerTrustee | 40 | $55,500 |
Dr Costas Gogos Board Chairman | OfficerTrustee | 15 | $56,300 |
Dr Kun H Hyun President - Emeritus | Trustee | 1 | $0 |
Dr Paul Anderson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,847,934 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,847,934 |
| Total Program Service Revenue | $1,311,933 |
| Investment income | $6,500 |
| 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 | $5,166,367 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $378,307 |
| Compensation of current officers, directors, key employees. | $125,161 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $820,856 |
| Pension plan accruals and contributions | $51,410 |
| Other employee benefits | $98,158 |
| Payroll taxes | $75,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,210 |
| Fees for services: Accounting | $37,161 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $289,236 |
| Advertising and promotion | $0 |
| Office expenses | $101,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $384,270 |
| Travel | $119,684 |
| 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 | $118,728 |
| Insurance | $94,523 |
| All other expenses | $2,411,355 |
| Total functional expenses | $4,985,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,411,033 |
| Savings and temporary cash investments | $1,296,723 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $931,848 |
| 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 | $22,840 |
| Net Land, buildings, and equipment | $826,802 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,933 |
| Total assets | $5,522,179 |
| Accounts payable and accrued expenses | $381,108 |
| Grants payable | $0 |
| Deferred revenue | $8,800 |
| 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 | $24,267 |
| Total liabilities | $414,175 |
| Net assets without donor restrictions | $5,108,004 |
| Net assets with donor restrictions | $0 |
| 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 | $5,522,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Science History Institute Philadelphia, PA | $38,684,547 | $7,789,030 |
Polymer Processing Institute At Njit Newark, NJ | $5,522,179 | $5,166,367 |
Chemical Industry Council Of New Jersey Trenton, NJ | $3,177,355 | $1,604,752 |
American Chemical Society Jamaica, NY | $931,265 | $411,070 |
Catalysis Society Of Metropolitan New Yor Inc Piscataway, NJ | $86,511 | $0 |
National Association Of Scientific Materials Managers South Abington Twp, PA | $409,831 | $202,275 |
Society Of Flavor Chemists Inc Neptune, NJ | $42,810 | $104,077 |
National Registry Of Certified Chemists West Grove, PA | $151,873 | $0 |
American Chemical Society Philadelphia, PA | $800,391 | $177,271 |
Chemists Club New York, NY | $45,938 | $115,447 |
Center For Powder Metallurgy Technology Princeton, NJ | $1,665,414 | $128,342 |
American Chemical Society Union Beach, NJ | $925,645 | $125,426 |
North American Mixing Forum Inc Fairport, NY | $270,383 | $19,511 |
Sales Association Of The Chemical Industry Inc Dumont, NJ | $54,982 | $0 |