Vibration Institute
- Assets
- $2.0m
- Revenue
- $914.8k
- Investments
- $1.2m
- Employees
- 11
- Location
- Naperville, IL
- Founding
- 03/1973
- Data as of
- 12/2020
- EIN
- 23-7260549
Organization Overview
Vibration Institute is located in Naperville, IL. The organization was established in 1973. As of 12/2021, Vibration Institute employed 11 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Vibration Institute 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 12/2020, Vibration Institute generated $914.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE VIBRATION INSTITUTE IS TO DISSEMINATE PRACTICAL INFORMATION ON EVALUATING MACHINERY BEHAVIOR AND CONDITION WITHOUT COMMERCIAL INTEREST. THE INSTITUTE OFFERS PROGRAMS INCLUDING EDUCATION, TRAINING, CERTIFICATION, OPPORTUNITIES FOR EXCHANGE TECHNICAL KNOWLEDGE, INFORMATION, PROCEDURES, AND DATA THAT ARE OFFERED THROUGH MEETINGS, PUBLICATIONS, FORMAL TRAINING AND NETWORKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESENTATION OF SEMINARS AND COURSES AND OFFER EXAMS TO OBTAIN OR RENEW CERTIFICATIONS. HOLDING AN ANNUAL CONFERENCE AND PUBLICATION AND MEMBERSHIP BENEFITS TO INDIVIDUALS AND BUSINESS AND TO EDUCATE MEMBERS AND OTHER INTERESTED PARTIES IN THE SCIENCE AND THE ART OF MECHANICAL VIBRATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David B Szrom Sec/treasure | OfficerTrustee | 10 | $120,066 |
Jack Peters Tech. Dir. O | Trustee | 5 | $53,770 |
Allen Plymon Exec. Vice P | OfficerTrustee | 1 | $25,150 |
David Corelli Tech. Dir. O | Trustee | 5 | $24,000 |
Robert Sayer Past-Preside | Trustee | 5 | $20,049 |
Gyorgy Szasz President | OfficerTrustee | 10 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $53,828 |
| 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 | $914,774 |
| Statement of Expenses | |
|---|---|
| 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. | $227,910 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,780 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,728 |
| Payroll taxes | $25,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,525 |
| Fees for services: Accounting | $34,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,331 |
| Advertising and promotion | $3,632 |
| Office expenses | $4,768 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,805 |
| Travel | $21,999 |
| 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 | $13,114 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,108,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,445 |
| Savings and temporary cash investments | $599,304 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $73,178 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,366 |
| Prepaid expenses and deferred charges | $19,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,187,706 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,992,943 |
| Accounts payable and accrued expenses | $173,876 |
| Grants payable | $0 |
| Deferred revenue | $66,910 |
| 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 | $80,487 |
| Total liabilities | $321,273 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,671,670 |
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