Society For Mining Metallurgy And Exploration Inc
- Assets
- $38.3m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 58
- Location
- Englewood, CO
- Founding
- 12/1984
- Data as of
- 09/2021
- EIN
- 74-2338444
Organization Overview
Society For Mining Metallurgy And Exploration Inc is located in Englewood, CO. The organization was established in 1984. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. As of 09/2021, Society For Mining Metallurgy And Exploration Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society For Mining Metallurgy And Exploration 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 09/2021, Society For Mining Metallurgy And Exploration Inc generated $10.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $9.2m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING A BETTER WORLD THROUGH MINING, METALLURGY AND UNDERGROUND CONSTRUCTION.
Describe the Organization's Program Activity:
SME HELD A SUCCESSFUL MINEXCHANGE VIRTUAL EVENT ON MARCH 1-5, 2021 WITH OVER 1,300 PARTICIPANTS. THE VIRTUAL CONFERENCE COMBINED THE SAME ROBUST TECHNICAL PROGRAMMING OF AN IN-PERSON EVENT WITH THE ABILITY FOR ATTENDEES TO LOGIN FROM ANYWHERE IN THE WORLD. SUPPORTED BY 33 SPONSORING COMPANIES, MINEXCHANGE 2021 ALSO ALLOWED ATTENDEES ACCESS TO ALL RECORDED CONTENT FOR 60 DAYS FOLLOWING THE LIVE VIRTUAL EVENT. RETC WAS HELD IN LAS VEGAS, NV JUNE 13-16, 2021. RE-DESIGNED TO ACCOMODATE LOCAL COVID-19 SAFETY RECOMMENDATIONS, THE EVENT WAS ATTENDED BY MORE THAN 800 INDIVIDUALS. IN ADDITION TO A SHORT COURSE AND A PRECONFERENCE WORKSHOP, THE TECHNICAL PROGRAM FEATURED 77 PRESENTATIONS. THERE WERE 107 EXHIBIT BOOTHS AND 26 SPONSORING COMPANIES.
MEMBERS ARE THE HEART OF SME, CONTRIBUTING TECHNICAL KNOWLEDGE, TALENT AND VOLUNTEER RESOURCES TO HELP THE ORGANIZATION ADVANCE. SME SERVED 12,095 MEMBERS DURING 2021 WITH 26% OF THOSE BEING INTERNATIONAL MEMBERS. SME HAS 46 LOCAL SECTIONS WITH 4 OF THOSE BEING INTERNATIONAL. DURING 2021 THERE WERE 4 NEW STUDENT CHAPTERS FORMED BRINGING THE TOTAL TO 84.
DURING 2021 MINING ENGINEERING EXPANDED ITS DIGITAL FOOTPRINT TO PROVIDE MEMBERS AROUND THE WORLD WITH TIMELY TECHNICAL CONTENT AND NEWS.THE MINING ENGINEERING WEBSITE PUBLISHES INDUSTRY NEWS ON A DAILY BASIS AND DELIVERS EACH ISSUE TO MEMBERS ANYWHERE IN THE WORLD AS A PDF AND IN FLIPBOOK FORMATS.CLIENTS ALSO HAVE EXPANDED DIGITAL ADVERTISING OPPORTUNITIES THROUGH MINING ENGINEERING ONLINE, THE SME WEBSITE, CLIENT-PROVIDED CONTENT, SME E-NEWS AND MINING ENGINEERING DIGITAL NEWSLETTER OPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Kanagy Executive Director | Officer | 45 | $509,631 |
Melanie Penoyar-Perez Chief Operations Officer | 45 | $146,399 | |
Paul Hoiberg It Manager | 40 | $135,533 | |
Tara Davis Programs Manager | 40 | $118,306 | |
Karin Harrington Director Of Hr | 40 | $115,936 | |
Michelle Kroeger Chief Financial Officer | Officer | 45 | $107,860 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Digitell Inc Virtual Conference | 9/29/21 | $118,250 |
Personify Ams Hosting | 9/29/21 | $231,220 |
Publication Printers Publication Publish | 9/29/21 | $283,199 |
Bayardootjones And Associatesllp Advertising Sales | 9/29/21 | $141,943 |
Caesar's Palace Conference Lodging | 9/29/21 | $322,396 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,956,147 |
| All other contributions, gifts, grants, and similar amounts not included above | $353,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,309,614 |
| Total Program Service Revenue | $4,147,176 |
| Investment income | $782,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,658,890 |
| Net Income from Fundraising Events | $7,973 |
| Net Income from Gaming Activities | $965 |
| Net Income from Sales of Inventory | $163,347 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,135,068 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $520,291 |
| Grants and other assistance to Foreign Orgs/Individuals | $69,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $742,079 |
| Compensation of current officers, directors, key employees. | $151,310 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,179,504 |
| Pension plan accruals and contributions | $375,025 |
| Other employee benefits | $138,297 |
| Payroll taxes | $295,937 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,396 |
| Fees for services: Accounting | $30,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $100,308 |
| Fees for services: Other | $584,569 |
| Advertising and promotion | $307,616 |
| Office expenses | $586,435 |
| Information technology | $229,527 |
| Royalties | $0 |
| Occupancy | $119,453 |
| Travel | $159,162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $417,747 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $325,421 |
| Insurance | $57,974 |
| All other expenses | $14,263 |
| Total functional expenses | $9,154,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,304,943 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,953,321 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,213,213 |
| Prepaid expenses and deferred charges | $250,304 |
| Net Land, buildings, and equipment | $3,793,068 |
| Investments—publicly traded securities | $27,512,267 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,235,515 |
| Total assets | $38,262,631 |
| Accounts payable and accrued expenses | $1,187,240 |
| Grants payable | $0 |
| Deferred revenue | $2,285,123 |
| 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 | $1,338,873 |
| Total liabilities | $4,811,236 |
| Net assets without donor restrictions | $25,820,452 |
| Net assets with donor restrictions | $7,630,943 |
| 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 | $38,262,631 |
Grants Awarded
Over the last fiscal year, Society For Mining Metallurgy And Exploration Inc has awarded $13,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Woodcliff Lake, NJ PURPOSE: Sponsor Engineering Exposition | $7,500 |
Washington, DC PURPOSE: Sponsor Emerging Leaders Alliance | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Society For Mining Metallurgy And Exploration Inc has recieved totaling $257,973.
| Awarding Organization | Amount |
|---|---|
American Institute Of Mining Metallurgical And Petroleum Engine Englewood, CO PURPOSE: $250K Member Society Direct; $7,772 Offshore Technology Conference Surplus Distribution | $257,772 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $201 |
Endowment Analysis
| Beg. Balance | $10,772,728 |
| Earnings | $1,695,434 |
| Net Contributions | $18,665 |
| Grants | $456,940 |
| Ending Balance | $12,029,887 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society For Mining Metallurgy And Exploration Inc Englewood, CO | $38,262,631 | $10,135,068 |
American Association Of Petroleum Geologists Foundation Tulsa, OK | $53,009,390 | $2,910,036 |
Center For Severe Weather Research Inc Boulder, CO | $1,574,526 | $530,758 |
Weatherspoon Charitable Foundation Boulder, CO | $3,489,783 | $1,008,394 |
Targeted Meteorological Systems Inc Boulder, CO | $85,493 | $465,003 |
National Weather Association Norman, OK | $439,471 | $402,622 |
National Space Grant Alliance Inc Omaha, NE | $696,055 | $204,932 |
Aviation Distributors & Manufacturers Association Parker, CO | $282,799 | $204,902 |
National Tornado Foundation Edmond, OK | $0 | $0 |
Kansas Argicultural Aviation Association Wichita, KS | $212,929 | $0 |
International Earthlight Alliance Tucson, AZ | $30,428 | $0 |
Space Infrastructure Foundation Inc Colorado Springs, CO | $9,186 | $0 |