Ready Mixed Concrete Research And Education Foundation Inc
- Assets
- $29.9m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 10/1990
- Data as of
- 12/2021
- EIN
- 52-1680963
Organization Overview
Ready Mixed Concrete Research And Education Foundation Inc is located in Alexandria, VA. The organization was established in 1990. According to its NTEE Classification (U33) the organization is classified as: Chemistry & Chemical Engineering, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ready Mixed Concrete Research And Education Foundation Inc 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 12/2021, Ready Mixed Concrete Research And Education Foundation Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. 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
THE FOUNDATION IS DEDICATED TO ENHANCING AND STRENGTHENING THE READY MIXED CONCRETE INDUSTRY THROUGH INDEPENDENT RESEARCH AND QUALITY EDUCATION PROGRAMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MASSACHUSETTS INSTITUTE OF TECHNOLOGY CONCRETE SUSTAINABILITY HUB (MIT CSHUB):THE MIT CSHUB BRINGS TOGETHER LEADERS FROM ACADEMIA, INDUSTRY, AND GOVERNMENT TO DEVELOP BREAKTHROUGHS USING A HOLISTIC APPROACH THAT WILL ACHIEVE DURABLE AND SUSTAINABLE HOMES, BUILDINGS, AND INFRASTRUCTURE IN EVER MORE DEMANDING ENVIRONMENTS.THE MISSION OF THE CSHUB IS TO DEVELOP BREAKTHROUGHS THAT WILL ACHIEVE SUSTAINABLE AND DURABLE HOMES, BUILDINGS, AND INFRASTRUCTURE. THIS IS APPROACHED BY CONDUCTING RESEARCH TO REDUCE THE IMPACT OF PRODUCING AND USING CONCRETE, AND TO DEVELOP TOOLS TO SUPPORT INFRASTRUCTURE DECISIONS: LIFE-CYCLE ENVIRONMENTAL, COST, AND HAZARD RESISTANCE.RESEARCH AT THE MIT CSHUB HAS BEEN ORGANIZED AROUND THREE FOCUS AREAS: CONCRETE MATERIALS SCIENCE, BUILDING TECHNOLOGY AND THE ECONOMETRICS OF SUSTAINABLE DEVELOPMENT.
PERFORMANCE ENGINEERED MIXTURES STUDY TO ADDRESS CONCRETE DURABILITY ISSUES FOR PAVEMENTS. RMC'S FINANCIAL CONTRIBUTION IS AN INDUSTRY MATCH FOR FUNDING THORUGH A STATE DOT POOLED FUND RESEARCH PROJECT.
THE SKATE4CONCRETE PROJECT INCLUDES DEVELOPMENT OF VIDEOS EDUCATING YOUNG PEOPLE ABOUT CONCRETE AND SKATEPARKS, RESOURCES FOR LEARNING MORE ABOUT CAREERS IN CONCRETE AND THE DEVELOPMENT OF A HIGH SCHOOL LEVEL CONCRETE CERTIFICATION RECOGNIZED BY THE CONCRETE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Garbini Executive Dir. | Officer | 40 | $266,477 |
Jennifer Lefevre Program Director | 40 | $138,651 | |
Jamie Gentoso Sec/treasurer | OfficerTrustee | 0.5 | $0 |
Rodney Grogan Vice Chairman | OfficerTrustee | 0.5 | $0 |
Donald V Ingrassano Chairman | OfficerTrustee | 0.5 | $0 |
Christopher Schenone Trustee | Trustee | 0.5 | $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 | $1,163,642 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,163,642 |
| Total Program Service Revenue | $0 |
| Investment income | $579,284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $996,449 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,739,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,115,786 |
| 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. | $304,327 |
| Compensation of current officers, directors, key employees. | $60,865 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,562 |
| Pension plan accruals and contributions | $8,109 |
| Other employee benefits | $11,816 |
| Payroll taxes | $25,990 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,851 |
| Information technology | $2,457 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,179 |
| All other expenses | $1,659 |
| Total functional expenses | $1,675,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $578,732 |
| Pledges and grants receivable | $1,175,275 |
| 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 | $291,953 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $27,783,389 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,311 |
| Total assets | $29,901,660 |
| Accounts payable and accrued expenses | $162,199 |
| 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 | $162,199 |
| Net assets without donor restrictions | $28,428,088 |
| Net assets with donor restrictions | $1,311,373 |
| 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 | $29,901,660 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ready Mixed Concrete Research And Education Foundation Inc has recieved totaling $8,862.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $8,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $362 |
Endowment Analysis
| Beg. Balance | $1,570,873 |
| Net Contributions | $897,158 |
| Other Expense | $1,156,658 |
| Ending Balance | $1,311,373 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anuvia Prevention And Recovery Center Inc Charlotte, NC | $7,525,667 | $13,033,516 |
Ready Mixed Concrete Research And Education Foundation Inc Alexandria, VA | $29,901,660 | $2,739,375 |
American Chemical Society Sanford, NC | $7,672,277 | $1,931,478 |
Chemical Educational Foundation Arlington, VA | $1,719,060 | $1,202,993 |
American Chemical Society Blacksburg, VA | $1,606,040 | $593,018 |
American Association For Aerosol Research Inc Reston, VA | $2,741,926 | $499,635 |
Geochemical Society Washington, DC | $3,656,340 | $339,336 |
Natl Orgn For The Prof Adv Of Black Chemists & Chemical Engineers Annapolis, MD | $1,085,327 | $714,435 |
Adhesion Society Incorporated Alexandria, VA | $127,816 | $0 |
International Society For Nucleotides & Nucleic Acids Baltimore, MD | $456,669 | $0 |
American Chemical Society Fallston, MD | $375,818 | $0 |