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← FOUNDATION FOR CHEMISTRY RESEARCH AND INITIATIVES

Form 990 for tax year 2022

Filed by FOUNDATION FOR CHEMISTRY RESEARCH AND INITIATIVES.

Totals

Total revenue
$1,779,208
Total expenses
$780,386
Contributions and grants received
$1,778,902
Grants paid
$135,500
Program service revenue
$0
Investment income
$306
Other revenue
$0
Total assets, end of year
$4,229,565
Total liabilities, end of year
$58,032
Net assets or fund balances, end of year
$4,171,533
Program services expenses (Part IX)
$762,053
Management and general expenses
$18,333
Fundraising expenses
$0
Program service expenses (Part III)
$762,053

Program services were 97.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $1,777,902

  • 1e · Government grants (contributions)

    $1,000

  • 3 · Investment income

    total $306 · excluded $306

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $135,500 · program services $135,500

  • 11b · Fees: legal

    total $288 · management and general $288

  • 11c · Fees: accounting

    total $11,568 · management and general $11,568

  • 11g · Fees: other

    total $626,553 · program services $626,553

  • 13 · Office expenses

    total $6,477 · management and general $6,477

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,334,871 · end of year $4,097,065

  • 9 · Prepaid expenses and deferred charges

    end of year $132,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $162,160 · end of year $58,032

  • 27 · Net assets without donor restrictions

    beginning of year -$33,393 · end of year -$51,420

  • 28 · Net assets with donor restrictions

    beginning of year $3,206,104 · end of year $4,222,953

Mission and programs · 2022

Mission

ADVANCING THE UNDERSTANDING, SAFE USE, AND POSITIVE IMPACT OF CHEMISTRY TO SOCIETY.TO ACCOMPLISH THE MISSION, THE FOUNDATION WILL SUPPORT THE FOLLOWING GOALS:1. PROVIDE INFORMATION AND PARTICIPATE IN EDUCATION THAT PROMOTES THE SAFE PRODUCTION, DISTRIBUTION, AND USE OF CHEMISTRY.2. SUPPORT AND PROMOTE SCIENTIFIC RESEARCH FOR SCIENCE-BASED PUBLIC POLICY FOR CHEMICALS MANAGEMENT.3. SUPPORT INITIATIVES DEMONSTRATING CHEMISTRY'S CONTRIBUTION AND BENEFITS TO SOCIETY.

Activities or mission (Part I)

ADVANCING THE UNDERSTANDING, SAFE USE, AND POSITIVE IMPACT OF CHEMISTRY TO SOCIETY. 1. PROVIDE INFORMATION AND PARTICIPATE IN EDUCATION THAT PROMOTES THE SAFE PRODUCTION, DISTRIBUTION, AND USE OF CHEMISTRY.2. SUPPORT AND PROMOTE SCIENTIFIC RESEARCH FOR SCIENCE-BASED PUBLIC POLICY FOR CHEMICALS MANAGEMENT.3. SUPPORT INITIATIVES DEMONSTRATING CHEMISTRY'S CONTRIBUTION AND BENEFITS TO SOCIETY.

  • MICROPLASTICS RESEARCH: THE FOUNDATION SUPPORTED RESEARCH TO BETTER UNDERSTAND IMPACTS OF MICROPLASTICS ON HUMAN HEALTH AND THE ENVIRONMENT.FORMALDEHYDE RESEARCH: THE FOUNDATION SUPPORTED RESEARCH TO IMPROVE UNDERSTANDING ABOUT FORMALDEHYDE THAT RESULTED IN SEVERAL PEER REVIEWED PUBLICATIONS.PRIORITY CHEMICAL INDUSTRY PROJECTS: THE FOUNDATION SPONSORED PROJECTS IN SUPPORT OF THE CHEMICAL INDUSTRY'S RESEARCH PRIORITIES IN SEVERAL ISSUE AREAS.

    Expenses $762,053 · Grants $135,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard A Becker

    TRUSTEE

    Total calculated
    $369,352
    From this org
    $0
    From related orgs
    $303,558
    Other
    $65,794
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,246 related
    Bonus
    $0 + $41,000 related
    Other
    $0 + $4,312 related
    Deferred
    $0 + $36,685 related
    Nontaxable benefits
    $0 + $31,347 related
    Filer's total
    $0 + $371,590 related

  • Charles Franklin

    TRUSTEE

    Total calculated
    $313,764
    From this org
    $0
    From related orgs
    $253,371
    Other
    $60,393
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $238,344 related
    Bonus
    $0 + $12,500 related
    Other
    $0 + $2,527 related
    Deferred
    $0 + $31,500 related
    Nontaxable benefits
    $0 + $35,865 related
    Filer's total
    $0 + $320,736 related

  • Karin Krchnak

    TRUSTEE

    Total calculated
    $390,480
    From this org
    $0
    From related orgs
    $320,854
    Other
    $69,626
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,771 related
    Bonus
    $0 + $52,500 related
    Other
    $0 + $1,583 related
    Deferred
    $0 + $37,950 related
    Nontaxable benefits
    $0 + $36,743 related
    Filer's total
    $0 + $395,547 related

  • William J West

    TRUSTEE

    Total calculated
    $269,361
    From this org
    $0
    From related orgs
    $229,959
    Other
    $39,402
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,171 related
    Bonus
    $0 + $27,500 related
    Other
    $0 + $1,288 related
    Deferred
    $0 + $27,730 related
    Nontaxable benefits
    $0 + $12,936 related
    Filer's total
    $0 + $270,625 related

  • Robert J Simon Jr

    EXECUTIVE DIRECTOR

    Total calculated
    $665,026
    From this org
    $0
    From related orgs
    $580,047
    Other
    $84,979
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $418,497 related
    Bonus
    $0 + $159,250 related
    Other
    $0 + $2,300 related
    Deferred
    $0 + $53,304 related
    Nontaxable benefits
    $0 + $37,039 related
    Filer's total
    $0 + $670,390 related

  • Laura Gooding

    SECRETARY

    Total calculated
    $293,978
    From this org
    $0
    From related orgs
    $238,714
    Other
    $55,264
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,830 related
    Bonus
    $0 + $16,000 related
    Other
    $0 + $884 related
    Deferred
    $0 + $29,020 related
    Nontaxable benefits
    $0 + $28,506 related
    Filer's total
    $0 + $296,240 related

  • Colleen Stevens

    PROGRAM DIRECTOR & TREASURER

    Total calculated
    $183,252
    From this org
    $0
    From related orgs
    $155,953
    Other
    $27,299
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,592 related
    Bonus
    $0 + $20,000 related
    Other
    $0 + $361 related
    Deferred
    $0 + $18,704 related
    Nontaxable benefits
    $0 + $9,245 related
    Filer's total
    $0 + $183,902 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FOUNDATION FOR CHEMISTRY RESEARCH AND INITIATIVES DOES NOT COMPENSATE OFFICERS OR DIRECTORS. ALL OFFICERS AND DIRECTORS SERVE ON THE FOUNDATIONS' BOARD WITHOUT COMPENSATION. ALL COMPENSATION SHOWN IN PART VII OF THE FORM 990, AND SCHEDULE J, PAGE 2, PART II, IS PAID BY A RELATED ORGANIZATION OF THE FOUNDATION FOR CHEMISTRY RESEARCH AND INITIATIVES, THE AMERICAN CHEMISTRY COUNCIL. THE COMPENSATION DETERMINATION METHODOLOGY OF THE AMERICAN CHEMISTRY COUNCIL IS AS FOLLOWS: THE ACC COMPENSATION COMMITTEE IS COMPRISED OF THE ACC OFFICERS. THE COMPENSATION COMMITTEE REVIEWS THE PERFORMANCE AND SETS THE ANNUAL COMPENSATION OF THE ACC PRESIDENT AND CEO PURSUANT TO AGREED-UPON CONTRACTUAL TERMS. THE COMPENSATION COMMITTEE ALSO REVIEWS AND APPROVES THE ANNUAL COMPENSATION AS RECOMMENDED BY THE PRESIDENT AND CEO FOR COVERED INDIVIDUALS. COVERED INDIVIDUALS CONSIST OF CHIEF EMPLOYED EXECUTIVES, OFFICERS, VICE PRESIDENTS AND MANAGING DIRECTORS AS APPOINTED TO THE SENIOR STAFF TEAM BY THE PRESIDENT AND CEO. IN 2022, THE COMPENSATION COMMITTEE REVIEWED PERFORMANCE, AWARDED THE BONUS, AND APPROVED THE 2022 BASE COMPENSATION FOR THE PRESIDENT AND CEO. FOR THE REMAINING COVERED INDIVIDUALS, THE PRESIDENT AND CEO RECOMMENDED BONUSES AND 2022 BASE SALARIES TO THE COMPENSATION COMMITTEE USING A COMPREHENSIVE BENCHMARK STUDY THAT IS PERFORMED ON AN ANNUAL BASIS. THE RECOMMENDATIONS OF THE PRESIDENT AND CEO WERE THEN APPROVED BY THE COMPENSATION COMMITTEE AT ITS NOVEMBER 2021 MEETING.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • AMERICAN CHEMISTRY COUNCIL

    501(C)(6) · ADVOCACY · NY

  • AMERICAN CHEMISTRY COUNCIL POLITICAL ACTION COMMITTEE

    527 · POLITICAL ACTIVITIES · DC

    Directly controlled by AMERICAN CHEMISTRY COUNCIL

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349307716

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