Silver Institute Inc
- Assets
- $515.4k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/1971
- Data as of
- 12/2023
- EIN
- 23-7108453
Organization Overview
Silver Institute Inc is located in Washington, DC. The organization was established in 1971. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Silver Institute Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Silver Institute Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 9 years. 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
THE SILVER INSTITUTE'S PURPOSE IS THAT OF PROMOTING THE WELFARE OF THE SILVER INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SILVER INSTITUTE'S GENERAL PROGRAMS PROVIDE SEVERAL SERVICES BENEFITING THE GLOBAL SILVER INDUSTRY, INCLUDING INCREASING AWARENESS AND EDUCATION ABOUT SILVER THROUGH THE SILVER INSTITUTE'S WEBSITE, THE ISSUANCE OF PRESS RELEASES, MAINTAINING AN ACTIVE SOCIAL MEDIA PROGRAM, AND RELEASING A BIMONTHLY NEWSLETTER THAT HIGHLIGHTS TRENDS IN THE SILVER MARKETPLACE. WE ALSO PRODUCE A PODCAST, "TALKING SILVER, AND COORDINATE WEBINARS ON SUBJECTS IMPORTANT TO THE SILVER INDUSTRY THAT ARE PROMOTED GLOBALLY. WE RETAIN THE SERVICES OF A TECHNICAL DIRECTOR TO MONITOR AND REPORT ON GLOBAL TECHNICAL DEVELOPMENTS THAT AFFECT SILVER CONSUMPTION.
THE SILVER INSTITUTE RELEASES THE ANNUAL WORLD SILVER SURVEY TO BRING TIMELY AND RELIABLE SILVER SUPPLY AND DEMAND TO OUR MEMBERS, MARKET PARTICIPANTS, ANALYSTS AND THE GENERAL PUBLIC. THE BREADTH OF THE SILVER INDUSTRY READS WORLD SILVER SURVEY, AND THE PUBLICATION REMAINS THE MOST WIDELY REFERENCED AND QUOTED ANNUAL REPORT ON THE SILVER MARKET.
THE SILVER INSTITUTE HAS MARKET DEVELOPMENT PROGRAMS IN MEXICO, PERU, INDIA, AND CHINA. THE INSTITUTE PERIODICALLY ISSUES MARKET TREND REPORTS ON VARIOUS ASPECTS OF SILVER DEMAND. THESE ARE BRIEF REPORTS ON DIFFERENT TOPICS RELATED TO THE SILVER MARKET AND AUTHORED BY EXPERTS IN THEIR RESPECTIVE FIELDS. ADDITIONALLY, THE INSTITUTE'S EXECUTIVE DIRECTOR OFTEN ATTENDS AND SPEAKS AT GLOBAL PRECIOUS METALS CONFERENCES AND APPEARS IN THE MEDIA DISCUSSING THE MAIN COMPONENTS OF THE SILVER MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillips Baker Jr Vp (until 06/23); Chair (as Of 06/23) | OfficerTrustee | 0.25 | $0 |
Ignacio Bustamante President (until 06/23) | OfficerTrustee | 0.25 | $0 |
Michael Dirienzo Edsec Until 06/23); Pres/ceo (as Of 06/23) | OfficerTrustee | 30 | $0 |
Dale Andres Director | Trustee | 0.25 | $0 |
Patrick Drouin Director | Trustee | 0.25 | $0 |
Rui Feng Director (until 9/23) | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Metals Focus Research | 12/30/23 | $333,000 |
Ksg Llc Management Fee | 12/30/23 | $523,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,444,487 |
| Investment income | $291 |
| 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 | $1,444,778 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,544 |
| Advertising and promotion | $141,609 |
| Office expenses | $27,928 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,209 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,200 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,226,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,337 |
| Savings and temporary cash investments | $381,024 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $515,361 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $515,361 |
| 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 | $515,361 |