International Precious Metals Institute Inc
- Assets
- $560.5k
- Revenue
- $836.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Pensacola, FL
- Founding
- Data as of
- 12/2021
- EIN
- 30-1206732
Organization Overview
International Precious Metals Institute Inc is located in Pensacola, FL. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, International Precious Metals Institute Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Precious Metals 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 12/2021, International Precious Metals Institute Inc generated $836.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $676.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IPMI'S MISSION IS TO GLOBALLY SERVE ITS MEMBERSHIP BY PROMOTING AND SUPPORTING PRECIOUS METALS RELATED RESEARCH, EDUCATION, NETWORKING AND THE EXCHANGE OF INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONFERENCE, SEMINARS, MEMBERSHIP SERVICESTHE ANNUAL CONFERENCE INCLUDES NUMEROUS TECHNICAL SESSIONS OF IMPORTANCE TO PRECIOUS METAL INDUSTRY PROFESSIONALS AND ACADEMIA, SPEAKER LUNCHEONS AND MEMBER RECEPTIONS AND EVENTS. IN ADDITION, THROUGHOUT THE YEAR AND IN VARIOUS LOCALES, IPMI SPONSORS TECHNICAL SEMINARS FOCUSING ON SPECIFIC PRECIOUS METAL INDUSTRY TOPICS AND ISSUES. MEMBERSHIP SERVICES INCLUDE A MEMBERS DIRECTORY AND TECHNICAL PUBLICATIONS, A PUBLIC AFFAIRS CONFERENCE IN WASHINGTON, D.C. AND COMMITTEE MEETINGS ON REGULATORY, ENVIRONMENTAL, HEALTH AND SAFETY, SECURITY AND MONEY LAUNDERING, PETROLEUM REFINING AND SAMPLING AND ANALYTICS AND OTHER SUCH ISSUES OF CONCERN AND INTEREST TO THE PRECIOUS METALS INDUSTRY.
ANNUAL MEMBERSHIPFOR ANNUAL DUES MEMBERSHIP, THE ORGANIZATION PROVIDES MEMBERS WITH TIMELY TECHNICAL, ECONOMIC, ENVIRONMENTAL AND EDUCATIONAL INFORMATION. IN ADDITION, IPMI PROVIDES ITS MEMBERS WITH NETWORKING OPPORTUNITIES NECESSARY FOR SUCCESS IN TODAY'S GLOBAL MARKETPLACE. MEMBER BENEFITS INCLUDE MONTHLY NEWSLETTER, ANNUAL MEMBERSHIP DIRECTORY, ACCESS TO A COMPREHENSIVE TECHNICAL LIBRARY AS WELL AS DISCOUNTS TO MAJOR IPMI EVENTS.
MEMBER PUBLICATIONS & WEBINAR SERIESIPMI PROVIDES A MEMBERS DIRECTORY TO ALL MEMBERS. THIS PROVIDES A UNIQUE TOOL FOR "NETWORKING" ACROSS THE ENTIRE GLOBAL PRECIOUS METALS COMMUNITY. IPMI PUBLISHES A PRECIOUS METALS BUYERS GUIDE. THIS IS AN EXCEPTIONAL RESOURCE TO ACCESS A BROAD SPECTRUM OF VARIOUS PRECIOUS METALS SERVICE PROVIDERS. THESE PUBLICATIONS ARE AVAILABLE ONLY TO IPMI MEMBERS. DURING 2020 WE ADDED A SERIES OF WEBINARS AS OUR MEMBERS WERE RESTRICTED FOR TRAVEL FOR MOST OF THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Drummond Executive Director | Officer | 35 | $143,350 |
Becky Berube Vice President | Trustee | 1 | $0 |
Oliver Krestin President | Trustee | 1 | $0 |
Simon Codrington Board Member | Trustee | 1 | $0 |
Ian Holden Board Member | Trustee | 1 | $0 |
Zachary Henneman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $48,335 |
| 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 | $48,335 |
| Total Program Service Revenue | $651,084 |
| Investment income | $8 |
| 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 | $836,026 |
| 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. | $143,350 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,147 |
| Fees for services: Accounting | $67,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,480 |
| Advertising and promotion | $558 |
| Office expenses | $31,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,448 |
| Travel | $21,729 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,158 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,694 |
| All other expenses | $0 |
| Total functional expenses | $676,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $389,693 |
| Savings and temporary cash investments | $30,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,850 |
| 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 | $85,143 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,931 |
| Other assets | $0 |
| Total assets | $560,495 |
| Accounts payable and accrued expenses | $81,789 |
| Grants payable | $0 |
| Deferred revenue | $172,750 |
| 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 | $80,778 |
| Total liabilities | $335,317 |
| Net assets without donor restrictions | $225,178 |
| 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 | $560,495 |
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