Bifma International
- Assets
- $3.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Grand Rapids, MI
- Founding
- 02/1974
- Data as of
- 05/2023
- EIN
- 38-2019327
Organization Overview
Bifma International is located in Grand Rapids, MI. The organization was established in 1974. 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. As of 05/2023, Bifma International employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bifma International 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 05/2023, Bifma International generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.8m during the year ending 05/2023. While expenses have increased by 2.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BIFMA INTERNATIONAL'S MISSION IS TO LEAD, ADVOCATE, INFORM AND DEVELOP STANDARDS FOR THE NORTH AMERICAN OFFICE AND INSTITUTIONAL FURNITURE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUTREACH AND LEARNING - BUILD RELATIONSHIPS WITH INDUSTRY STAKEHOLDERS -PROMOTE THE COMMERCIAL FURNITURE INDUSTRY STANDARDS AND CERTIFICATIONS -PROVIDE COMPLEMENTARY EDUCATIONAL PROGRAMS: MONTHLY LEARNING SERIES AND ACCREDITED CEU PROGRAMS -PRESENT AT VARIOUS INDUSTRY CONFERENCES. INCLUDING NEOCON, THE ANNUAL COMMERCIAL FURNITURE NORTH AMERICAN TRADE SHOW IN CHICAGO.
ADVOCACY -MAINTAIN RELATIONSHIPS WITH REGULATORY AGENCIES, LEGISLATIVE BODIES, AND OTHER SIMILARLY FOCUSED ASSOCIATIONS AND EXCHANGE INFORMATION AFFECTING THE INDUSTRY TO MOVE THE INDUSTRY FORWARD
MEMBERSHIP SERVICES - CURATE AND MANAGE MEMBERSHIP PROGRAMS -EVENTS INCLUDING ANNUAL LEADERSHIP CONFERENCE, BUSINESS MEETING AND TECHNICAL SUMMIT. -MANAGE INDUSTRY STATISTICS PROGRAM AND QUARTERLY INDUSTRY OUTLOOK REPORT. -HOST VARIOUS MEMBER INFORMATIONAL SESSIONS ON CURRENT TOPICS.
HEALTH, SUSTAINABILITY, SAFETY AND PERFORMANCE - BIFMA IS AN ACCREDITED STANDARDS WRITING ORGANIZATION FOR COMMERCIAL FURNITURE TESTING STANDARDS IN THE US. -FACILITATE VOLUNTEER COMMITTEES PER THE ANSI STANDARDS PROCESS TO DEVELOP AND MAINTAIN ANSI BIFMA FURNITURE TESTING STANDARDS -MANAGE THE LEVEL FURNITURE SUSTAINABILITY CERTIFICATION PROGRAM -MANAGE THE BIFMA COMPLIANT REGISTRY PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Franco Bianchi Chair | OfficerTrustee | 2 | $0 |
Brian Krenke Vice Chair | OfficerTrustee | 2 | $0 |
Jeff Lorenger Treasurer | OfficerTrustee | 2 | $0 |
Sara Armbruster Director | Trustee | 2 | $0 |
Chris Baldwin Director | Trustee | 2 | $0 |
Alex Bernhardt Director | Trustee | 2 | $0 |
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 | $1,860,896 |
| Investment income | $38,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,667 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,899,732 |
| 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. | $247,471 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $512,806 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $109,258 |
| Payroll taxes | $53,514 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,566 |
| Fees for services: Accounting | $30,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $161,463 |
| Advertising and promotion | $28,815 |
| Office expenses | $12,484 |
| Information technology | $56,305 |
| Royalties | $0 |
| Occupancy | $43,310 |
| Travel | $60,327 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $303,859 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,961 |
| Insurance | $315 |
| All other expenses | $5,922 |
| Total functional expenses | $1,758,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,148 |
| Savings and temporary cash investments | $1,911,103 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,077 |
| 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 | $42,358 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $534,580 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $193,230 |
| Total assets | $3,481,496 |
| Accounts payable and accrued expenses | $45,887 |
| Grants payable | $0 |
| Deferred revenue | $724,801 |
| 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 | $193,230 |
| Total liabilities | $963,918 |
| Net assets without donor restrictions | $2,517,578 |
| 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 | $3,481,496 |