2024-03-28T11:08:11-05:00 2023-12-31 221732349 WISS & COMPANY LLP 100 CAMPUS DRIVE FLORHAM PARK NJ 07932 990 2023-01-01 237087832 INVESTMENT CASTING INSTITUTE INVE 2015739770 1 PARAGON DR 110 MONTVALE NJ 076451744 JOSEPH E FRITZ EXECUTIVE DIRECTOR, CEO 2015739770 2024-03-28 1 JOSEPH FRITZ XXX-XX-XXXX 0 DIANA MILLER P01597612 9739949400 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JOSEPH E FRITZ 1 PARAGON DR 110 MONTVALE NJ 076451744 1542646 0 X WWW.INVESTMENTCASTING.ORG X 1953 TX SEE SCHEDULE O - DESCRIPTION FOR FORM 990, PART III, LINE 1. 12 12 7 0 0 0 0 33351 1502917 1494433 8259 14862 0 0 1511176 1542646 5000 22483 0 0 625876 687948 0 0 0 930261 835901 1561137 1546332 -49961 -3686 1572753 1553547 415945 372079 1156808 1181468 X SEE SCHEDULE O THE INVESTMENT CASTING INSTITUTE WILL MARKET THE INVESTMENT CASTING INDUSTRY AND SUPPORT ITS MEMBERS BY FACILITATING PROFESSIONAL, ACADEMIC, EDUCATIONAL, AND TECHNICAL INTERESTS, AND WILL PROVIDE A FORUM FOR ADVANCEMENT IN TECHNOLOGY AND PRODUCT QUALITY FOR CUSTOMERS AND MANUFACTURERS, WHILE PROMOTING FREE TRADE, FAIR COMPETITION, AND ADHERING TO U.S. LAWS AND REGULATIONS REGARDING COMMERCE AND INDUSTRIAL TRADE. 0 0 FALL TECHNICAL MEETING WAS OFFERED AS AN IN-PERSON EVENT IN 2023 AND WAS BRANDED AS THE 70TH ANNUAL TECHNICAL CONFERENCE AND EXPO ON INVESTMENT CASTING: ANNUAL MEETING WHICH FOCUSES ON THE TECHNICAL ISSUES IN THE INVESTMENT CASTING INDUSTRY. THE MEETING ALSO INCLUDES EXHIBITIONS BY THE INSTITUTE'S MEMBERS, AND A CONTEST IN WHICH ENTRIES ARE COMPONENTS AND APPLICATIONS THAT SHOWCASE THE INVESTMENT CASTING PROCESS OR SOLVE CUSTOMER PROBLEMS. THE PURPOSE OF THE CONTEST IS TO PROMOTE THE INVESTMENT CASTING PROCESS AND RECOGNIZE INNOVATION AND LEADERSHIP IN THE INDUSTRY. TRAINING PROGRAMS IN 2023: THE INSTITUTE SPONSORED THE FOLLOWING TRAINING COURSES.THE INDUSTRY CERTIFICATION COURSE WAS OFFERED AS AN IN-PERSON EVENT IN 2023: THE INDUSTRY CERTIFICATION PROGRAM PROVIDES A WEEK OF INTENSIVE TRAINING INCLUDING CLASSROOM AND LABORATORY WORK. THIS PROGRAM IS OPEN TO EMPLOYEES OF ALL INSTITUTE MEMBERS AS WELL AS EMPLOYEES OF MEMBERS OF THE EUROPEAN INVESTMENT CASTERS' FEDERATION.THE PROCESS CONTROL SEMINAR WAS NOT OFFERED IN 2023: THE PROCESS CONTROL SEMINAR FOR INVESTMENT CASTING, INVOLVES TWO AND A HALF DAYS OF LECTURE AND WORKSHOP. THIS SEMINAR IS OPEN TO EMPLOYEES OF ALL INSTITUTE MEMBERS AS WELL AS EMPLOYEES OF MEMBERS OF THE EUROPEAN INVESTMENT CASTERS' FEDERATION. SPRING MANAGEMENT MEETING HAS BEEN REBRANDED AS THE "BUSINESS & LEADERSHIP DEVELOPMENT CONFERENCE" WHICH WAS OFFERED AS AN IN-PERSON EVENT IN 2023: ANNUAL MEETING WHICH ADDRESSES THE MANAGEMENT CONCERNS OF INSTITUTE MEMBER COMPANIES. TOPICS RANGING FROM PERSONNEL ISSUES TO LABOR LAW AND THE ECONOMIC TO THE MARKET FOR INVESTMENT CASTINGS ARE INCLUDED IN THIS ANNUAL EVENT. ADDITIVE MANUFACTURING FOR INVESTMENT CASTING (AM4IC) SYMPOSIUM WAS OFFERED AS AN IN-PERSON EVENT IN 2023: THE AM4IC IS AN EDUCATIONAL SYMPOSIUM DESIGNED TO ADVANCE THE USE OF ADDITIVE MANUFACTURING IN THE INVESTMENT CASTING COMMUNITY. THIS TWO-DAY EVENT IS OPEN TO THE ENTIRE INDUSTRY REGARDLESS OF ASSOCIATION MEMBERSHIP, AND IS COMPRISED OF PRACTICAL MATERIALS PRESENTED BY FOUNDRIES AND INDUSTRY SUPPLIERS DETAILING SUCCESS STORIES, OVERCOMING CHALLENGES AND THE ROLE AM HAS PLAYED IN PROMOTING SUPPLY CHAIN RESILIENCE. THIS PROGRAM IS DESIGNED FOR AND IDEALLY SUITED TO ADVANCE THE INTEREST OF INVESTMENT CASTING SUPPLIERS, FOUNDRIES, BUYERS, USERS, DESIGNERS, AND SUPPLY CHAIN MANAGERS. KEY TOPICS INCLUDE THE ROLE AM HAS PLAYED IN MANUFACTURE OF COMPLEX GEOMETRIES, MEETING CUSTOMER REQUIREMENTS, BOTH SHORT AND LONG TERM AND ADVANCEMENT OF THE INDUSTRY. 0 1 0 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 6 0 1 7 1 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X JOSEPH E FRITZ 2015739770 1 PARAGON DR SUITE 110 MONTVALE NJ 076451744 JOSEPH E FRITZ EXECUTIVE DIRECTOR, CEO 40.00 X 218574 0 75073 NIPENDRA SINGH PRESIDENT 2.56 X X 0 0 0 TY UELAND VICE PRESIDENT 0.29 X X 0 0 0 JOHN MARCIN PAST PRESIDENT 0.92 X X 0 0 0 AL TOROK DIRECTOR 0.29 X 0 0 0 BOB JOHNSON DIRECTOR 0.30 X 0 0 0 BRAD DESPLINTER DIRECTOR 0.52 X 0 0 0 ERICH KNOESPEL DIRECTOR 0.30 X 0 0 0 JAMES WRIGHT DIRECTOR 0.29 X 0 0 0 JUAN MOLINA DIRECTOR 0.08 X 0 0 0 JOHN MORISON IV DIRECTOR 0.25 X 0 0 0 PHIL GEERS DIRECTOR 0.17 X 0 0 0 RICH KILPATRICK DIRECTOR 0.44 X 0 0 0 218574 0 75073 1 0 1 0 0 33351 33351 FALL TECHNICAL MEETING 561499 605730 605730 MEMBERSHIP DUES 561499 600953 600953 TRAINING PROGRAMS 611430 112575 112575 SPRING MANAGEMENT MEET 561499 58741 58741 MANAGEMENT FEES INCOME 561000 57333 57333 59101 59101 1494433 14862 14862 1542646 1494433 0 14862 15483 7000 293647 297728 10544 48384 37645 4034 50535 25138 34324 24593 38053 44514 4344 433694 1144 10265 18651 TRAINING 93541 BAD DEBT EXPENSE 18133 DUES AND SUBSCRIPTIONS 17827 COMMITTEES 9974 7137 1546332 264402 276890 101785 163107 33351 65384 83952 88450 59543 74090 48831 30437 25259 317135 223369 576589 602150 128571 85926 1572753 1553547 45459 68330 163163 125848 207323 177901 415945 372079 X 1156808 1181468 1156808 1181468 1572753 1553547 -3686 28346 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 71815 47395 24420 2275 1436 839 25259 439835 C INVESTMENTS - TRUST ACCOUNT 162315 F 602150 SECURITY DEPOSITS 6713 OPERATING LEASE RIGHT OF USE ASSET, NET 71543 FINANCE LEASE RIGHT OF USE ASSET, NET 7670 85926 DEFERRED COMPENSATION 90726 OPERATING LEASE LIABILITY 79086 FINANCE LEASE LIABILITY 8089 177901 X PART X, LINE 2: THE INSTITUTE IS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE ("IRC") AND, THEREFORE, HAS MADE NO PROVISION FOR FEDERAL OR STATE INCOME TAXES IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. HOWEVER, IF THE INSTITUTE HAS UNRELATED BUSINESS INCOME, IT WOULD BE SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"). MANAGEMENT HAS DETERMINED THAT THE INSTITUTE HAD NO ACTIVITIES SUBJECT TO UBIT IN THE YEARS ENDED DECEMBER 31, 2023 OR 2022. THE INSTITUTE HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE ("IRS") NOT TO BE A "PRIVATE FOUNDATION" WITHIN THE MEANING OF SECTION 509(A)(1) OF THE IRC. THE ORGANIZATION IS NO LONGER SUBJECTED TO U.S. FEDERAL INCOME TAX EXAMINATIONS FOR YEAR-ENDS PRIOR TO 2020. 1 CONCURRENT RESOURCES LLC 73 PICKERING RD SUITE 307 ROCHESTER NH 03839 861497151 8320 0 REIMBURSABLE EXPENSES INCURRED AS A SUBRECIPIENT ON A GOVERNMENT CONTRACT WITH THE ICI. 0 1 SCHOLARSHIPS 3 7000 PART I, LINE 2: ICI MEMBERS CAN APPLY FOR A $5,000 AWARD IN SUPPORT OF A TECHNICAL COLLABORATION PROJECT WITH THE UNDERSTANDING THAT FINDINGS WILL BE SHARED WITH THE MEMBERSHIP AT THE ANNUAL TECHNICAL CONFERENCE ONCE THE PROJECT IS COMPLETE. MEMBERS CAN ALSO APPLY FOR A $5,000 TO BE USED TOWARDS INTERN FUNDING WITH THE UNDERSTANDING THAT THE INTERN QUALIFIES FOR INTERN SCHOLARSHIP CONSIDERATION AND DOES A PRESENTATION AT THE ANNUAL TECHNICAL CONFERENCE DETAILING THEIR INTERN PROJECT FOR THE MEMBERSHIP. APPLICATIONS FOR BOTH AWARDS ARE SUBMITTED TO THE TECHNICAL CONFERENCE FOR CONSIDERATION. X X X X 0 0 0 JOSEPH E FRITZ EXECUTIVE DIRECTOR, CEO 191953 0 26621 0 0 0 25242 0 49831 0 293647 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE INSTITUTE HAS SEVEN CLASSES OF MEMBERS AS FOLLOWS: 1. REGULAR (CASTING) MEMBER THIS CATEGORY CONSISTS OF MANUFACTURERS OF INVESTMENT CASTINGS WITH MANUFACTURING OPERATIONS BASED IN NORTH AMERICA. REGULAR MEMBERS VOTE ON ARTICLES OF INCORPORATION, ALL MATTERS AND MOTIONS PROPOSED AT MEMBERSHIP MEETINGS, AND FOR DIRECTORS WHO ARE REGULAR MEMBERS. 2. AFFILIATE (SUPPLIER) MEMBER THIS CATEGORY CONSISTS OF SUPPLIERS OF EQUIPMENT, PRODUCTS AND SERVICES TO THE INDUSTRY WITH MANUFACTURING OPERATIONS AND/OR BUSINESS OFFICES BASED IN NORTH AMERICA. AFFILIATE MEMBERS VOTE ONLY IN RELATION TO SPECIAL ASSESSMENTS BROUGHT BEFORE THE GENERAL ASSEMBLY, AND FOR DIRECTORS WHO ARE AFFILIATE MEMBERS. 3. ASSOCIATE REGULAR (CASTING) MEMBER THIS CATEGORY CONSISTS OF MANUFACTURERS OF INVESTMENT CASTINGS WITH MANUFACTURING OPERATIONS BASED OUTSIDE OF NORTH AMERICA. ASSOCIATE REGULAR MEMBERS MAY NOT ATTEND MANAGEMENT MEETINGS, BUT MAY VOTE ON SPECIAL ASSESSMENTS BROUGHT BEFORE THE GENERAL ASSEMBLY. ASSOCIATE MEMBERS MAY HAVE REPRESENTATIVES TO ACT AS FULL MEMBERS OF COMMITTEES BUT SHALL NOT BE ELIGIBLE TO SERVE AS A MEMBER OF THE BOARD OF DIRECTORS OR AS AN OFFICER OF THE INSTITUTE. 4. ASSOCIATE AFFILIATE (SUPPLIER) MEMBER THIS CATEGORY CONSISTS OF SUPPLIERS OF EQUIPMENT, PRODUCTS AND SERVICES TO THE INDUSTRY WITH MANUFACTURING OPERATIONS AND/OR BUSINESS OFFICES BASED OUTSIDE OF NORTH AMERICA. ASSOCIATE AFFILIATE MEMBERS MAY NOT ATTEND MANAGEMENT MEETINGS, BUT MAY VOTE ON SPECIAL ASSESSMENTS BROUGHT BEFORE THE GENERAL ASSEMBLY. ASSOCIATE MEMBERS MAY HAVE REPRESENTATIVES TO ACT AS FULL MEMBERS OF COMMITTEES BUT SHALL NOT BE ELIGIBLE TO SERVE AS A MEMBER OF THE BOARD OF DIRECTORS OR AS AN OFFICER OF THE INSTITUTE. 5. INDIVIDUAL MEMBER THIS CATEGORY IS CURRENTLY AVAILABLE TO INDIVIDUALS THAT ARE NOT EMPLOYED BY A MEMBER ELIGIBLE COMPANY. ELIGIBILITY FOR INDIVIDUAL MEMBERSHIP IS DETERMINED BY THE EXECUTIVE DIRECTOR ON A CASE BY CASE BASIS. INDIVIDUAL MEMBERS MAY NOT ATTEND MANAGEMENT MEETINGS, BUT MAY PARTICIPATE AS FULL MEMBERS OF COMMITTEES. INDIVIDUAL MEMBERS MAY NOT SERVE AS A MEMBER OF THE BOARD OF DIRECTORS OR AS AN OFFICER OF THE INSTITUTE. 6. MEMBER EMERITUS THIS CATEGORY IS CURRENTLY AVAILABLE TO RETIRED PERSONS WITH EXCEPTIONAL QUALIFICATIONS WHO WOULD BE A VALUABLE ASSET TO THE INSTITUTE. HONORARY MEMBERSHIP SHALL BE BY INVITATION OF THE BOARD OF DIRECTORS ONLY. HONORARY MEMBERS MAY NOT VOTE, SERVE AS A MEMBER OF THE BOARD OF DIRECTORS OR HOLD OFFICE. 7. ALLIED MEMBER THIS CATEGORY IS CURRENTLY AVAILABLE TO UNIVERSITIES AND ORGANIZATIONS THAT ARE INELLIGIBLE FOR MEMBERSHIP UNDER ANOTHER CATEGORY BUT WHOSE AFFILIATION WITH THE COMPANY IS OF MUTUAL BENEFIT. ALLIED MEMBERS MAY NOT VOTE NOR MAY THEY HOLD OFFICE AND ARE EXEMPT FROM THE PAYMENT OF DUES. FORM 990, PART VI, SECTION A, LINE 7A REGULAR AND AFFILIATE MEMBERS ELECT THE BOARD OF DIRECTORS. SEE ABOVE FOR DESCRIPTION AND EXPLANATION OF CLASSES OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B SEE ABOVE DESCRIPTION AND EXPLANATION OF CLASSES OF MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR REVIEWS AND APPROVES THE FORM 990 BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. THE BOARD OF DIRECTORS ARE PROVIDED WITH A COPY OF FORM 990 BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE INSTITUTE'S CONFLICT OF INTEREST POLICY CURRENTLY GOVERNS THE ACTIVITIES OF THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FOR EACH INTEREST DISCLOSED, THE PRESIDENT, OR THE BOARD, AS APPROPRIATE, SHALL DETERMINE WHETHER THE INSTITUTE SHOULD TAKE NO ACTION, OR DISCLOSE THE SITUATION MORE BROADLY AND INVITE DISCUSSION/RESOLUTION BY THE FULL BOARD. WHEN THE CONFLICT INVOLVES A DECISION MAKER, THE PERSON WITH THE CONFLICT MUST FULLY DISCLOSE THE CONFLICT TO ALL OTHER DECISION MAKERS, AND MAY NOT BE INVOLVED IN THE DECISION OF WHAT ACTION TO TAKE (E.G. MAY NOT PARTICIPATE IN A VOTE), BUT MAY SERVE AS A RESOURCE TO PROVIDE OTHER DECISION MAKERS WITH NEEDED INFORMATION. IN SOME CASES, THE PERSON WITH THE CONFLICT MAY BE ASKED TO RECUSE HIMSELF FROM SENSITIVE DISCUSSIONS SO AS NOT TO UNDULY INFLUENCE THE DISCUSSION OF THE CONFLICT. IN ALL CASES, DECISIONS INVOLVING A CONFLICT WILL BE MADE ONLY BY DISINTERESTED PERSON. THE EXECUTIVE DIRECTOR SHALL DOCUMENT THAT A CONFLICT WAS MANAGED AND THE OUTCOME IN THE MINUTES OF BOARD OF DIRECTORS. THE PRESIDENT, WITH THE ASSISTANCE OF THE EXECUTIVE DIRECTOR, SHALL MONITOR PROPOSED OR ONGOING TRANSACTIONS OF THE INSTITUTE (E. G. CONTRACTS WITH VENDORS AND COLLABORATIONS WITH THIRD PARTIES) FOR CONFLICTS OF INTEREST AND DISCLOSE THEM TO THE BOARD AND STAFF, AS APPROPRIATE, WHETHER DISCOVERED BEFORE OR AFTER THE TRANSACTION HAS OCCURRED. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE (WHO ARE ALSO MEMBERS OF THE BOARD OF DIRECTORS) ARE RESPONSIBLE FOR DETERMINING THE TOTAL COMPENSATION PACKAGE OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE COMMITTEE IS INDEPENDENT FROM THE EXECUTIVE DIRECTOR. THE EXECUTIVE COMMITTEE UTILIZED DATA AS TO COMPARABLE COMPENSATION FROM SIMILAR ORGANIZATIONS WHEN DETERMINING THE EXECUTIVE DIRECTOR'S PACKAGE. THE CURRENT EXECUTIVE DIRECTOR SIGNED AN EMPLOYMENT CONTRACT THAT BECAME EFFECTIVE AUGUST 5, 2013. HE WAS ACTING AS CO-EXECUTIVE DIRECTOR UNTIL THE FORMER EXECUTIVE DIRECTOR RETIRED AT DECEMBER 31, 2013. ON NOVEMBER 29, 2017, THE EXECUTIVE DIRECTOR'S EMPLOYMENT CONTRACT WAS AMENDED TO EXTEND THE CONTRACT TERM UNTIL DECEMBER 31, 2026. THE BOARD OF DIRECTORS, ON AN ANNUAL BASIS, REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE AGAINST ESTABLISHED CRITERIA AND DETERMINE APPROPRIATE ADJUSTMENTS TO COMPENSATION AS WARRANTED. THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES THAT WOULD REQUIRE THIS PROCESS FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST FOR INSPECTION AT THE INSTITUTE'S OFFICE. FORM 990, PAGE 12, PART XII, LINE 2C: INVESTMENT CASTING INSTITUTE'S FINANCE COMMITTEE ASSUMES RESPONSIBLITY FOR THE REVIEW AND OVERSIGHT OF THE AUDIT AND FINANCIAL STATEMENTS. FOR YEAR END 12/31/2023, THE ORGANIZATION HAS NOT CHANGED ITS SELECTION OF AN INDEPENDENT AUDITOR. INCAST CORPORATION 1 PARAGON DR SUITE 110 MONTVALE NJ 076451744 752306539 PUBLICATION TX INVESTMENT CASTING C 170189 133891 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 INCAST CORPORATION Q 104033 CASH