Specialty Equipment Market Association
- Assets
- $151.1m
- Revenue
- $20.6m
- Investments
- $28.4m
- Employees
- 153
- Location
- Diamond Bar, CA
- Founding
- 07/1970
- Data as of
- 06/2021
- EIN
- 95-2544340
Organization Overview
Specialty Equipment Market Association is located in Diamond Bar, CA. The organization was established in 1970. 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 06/2021, Specialty Equipment Market Association employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Specialty Equipment Market Association 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 06/2021, Specialty Equipment Market Association generated $20.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $28.6m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Specialty Equipment Market Association has awarded 51 individual grants totaling $18,866,435. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEMBERS WITH A FORUM TO BUY, SELL, AND MARKET PRODUCTS AND SERVICES WHICH DRIVES THE SPECIALTY AUTOMOTIVE AFTERMARKET INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Kersting President/ceo | Officer | 40 | $814,357 |
William Miller Senior Vice President, Operations | Officer | 40 | $441,102 |
George Afremow VP & CFO | Officer | 40 | $317,023 |
Mike Spagnola Vice President, Oem & Product Development Programs | 40 | $264,959 | |
Daniel Ingber Vice President, Vice President, Government And Leg | 40 | $242,225 | |
Tom Gattuso Vice President, Events | Officer | 40 | $230,780 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Webster Chamberlain & Bean Llp Legal Services | 6/29/21 | $484,925 |
Brentwood Communications Int'l Television & Film Studio Services | 6/29/21 | $334,316 |
Compusystems Registration Services For Tradeshows | 6/29/21 | $415,871 |
Ssca Inc Consulting Services | 6/29/21 | $279,466 |
Social27 Inc Event Productions | 6/29/21 | $259,138 |
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 | $4,934,037 |
| Investment income | $2,339,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,336,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,614,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,495,126 |
| 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. | $2,207,711 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $290,099 |
| Other salaries and wages | $8,485,231 |
| Pension plan accruals and contributions | $828,527 |
| Other employee benefits | $805,511 |
| Payroll taxes | $891,918 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $453,024 |
| Fees for services: Accounting | $79,547 |
| Fees for services: Lobbying | $661,048 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $894,085 |
| Fees for services: Other | $0 |
| Advertising and promotion | $714,482 |
| Office expenses | $3,556,410 |
| Information technology | $514,392 |
| Royalties | $0 |
| Occupancy | $260,145 |
| Travel | $103,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,522 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,159,960 |
| Insurance | $1,299,254 |
| All other expenses | $62,465 |
| Total functional expenses | $28,643,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,080,935 |
| Savings and temporary cash investments | $3,423,719 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $671,049 |
| 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 | $1,056,076 |
| Net Land, buildings, and equipment | $9,532,610 |
| Investments—publicly traded securities | $92,365,999 |
| Investments—other securities | $28,354,637 |
| Investments—program-related | $1,000 |
| Intangible assets | $6,716,339 |
| Other assets | $2,934,545 |
| Total assets | $151,136,909 |
| Accounts payable and accrued expenses | $4,150,820 |
| Grants payable | $0 |
| Deferred revenue | $19,443,019 |
| 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 | $23,593,839 |
| Net assets without donor restrictions | $127,543,070 |
| 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 | $151,136,909 |
Grants Awarded
Over the last fiscal year, Specialty Equipment Market Association has awarded $3,494,027 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Diamond Bar, CA PURPOSE: CONTRIBUTION TO PROVIDE SUPPORT FOR SPECIALTY EQUIPMENT WARRANTY ALLIANCE. | $3,087,427 |
Diamond Bar, CA PURPOSE: PROVIDES RESOURCES TO FUND STUDENT LOAN FORGIVENESS PROGRAM FOR YEN MEMBERS. | $276,000 |
Bakersfield, CA PURPOSE: ADVOCACY ASSOCIATION FORMED TO PROTECT AND PRESERVE ACCESS TO PUBLIC LANDS FOR OFF-ROAD RECREATION. | $40,000 |
Sacramento, CA PURPOSE: PROVIDES RESOURCES FOR INDIVIDUALS AND THEIR FAMILIES WHO HAVE WORKED IN THE AFTERMARKET AND HAVE COME ON DIFFICULT TIMES FINANCIALLY. | $33,000 |
Joliet, IL PURPOSE: CONTRIBUTION TO PROVIDE FINANCIAL SUPPORT FOR THE ENGINE CHALLENGE COMPETITIONS THAT PROMOTE YOUTH ENGAGEMENT THROUGHOUT THE YEAR AND HOST THE SERIES OF DUAL CHAMPIONSHIP EVENTS DURING THE SEMA SHOW IN LAS VEGAS, NEVADA AND THE PRI SHOW IN INDIANAPOLIS, INDIANA. | $25,600 |
San Dimas, CA PURPOSE: GENERAL SUPPORT. | $22,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Film Muscians Secondary Markets Fund encino, CA | $152,319,457 | $129,340,280 |
The Linux Foundation San Francisco, CA | $142,044,874 | $139,974,266 |
The Thunderbirds Phoenix, AZ | $33,696,955 | $84,390,943 |
California Travel And Tourism Commission Sacramento, CA | $86,955,324 | $75,852,594 |
Semi Milpitas, CA | $100,332,447 | $57,588,828 |
San Diego County Capital Asset Leasing Corporation San Diego, CA | $104,250,616 | $41,735,289 |
Western States Petroleum Association Sacramento, CA | $8,481,739 | $30,827,581 |
Iapmo Research And Testing Inc Ontario, CA | $11,214,766 | $46,736,492 |
Specialty Equipment Market Association Diamond Bar, CA | $151,136,909 | $20,614,542 |
California Dental Association Sacramento, CA | $252,495,901 | $15,890,513 |
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |