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← RPM FOUNDATION

Form 990 for tax year 2022

Filed by RPM FOUNDATION.

Totals

Total revenue
$282,480
Total expenses
$469,781
Contributions and grants received
$282,286
Grants paid
$118,903
Program service revenue
$176
Investment income
$18
Other revenue
$0
Total assets, end of year
$595,180
Total liabilities, end of year
$179,987
Net assets or fund balances, end of year
$415,193
Program services expenses (Part IX)
$390,094
Management and general expenses
$33,188
Fundraising expenses
$46,499
Program service expenses (Part III)
$390,094

Program services were 83.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $82,689

  • 1e · Government grants (contributions)

    $19,847

  • 1f · All other contributions, gifts and grants

    $179,750

  • 1g · Noncash contributions included above

    $26,700

  • 2f · All other program service revenue

    total $176 · related or exempt $176 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $18 · related or exempt $18 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $118,903 · program services $118,903

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $107,498 · program services $80,623 · management and general $10,750 · fundraising $16,125

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $102,872 · program services $77,154 · management and general $10,287 · fundraising $15,431

  • 8 · Pension plan contributions

    total $1,114 · program services $836 · management and general $111 · fundraising $167

  • 9 · Other employee benefits

    total $12,038 · program services $9,028 · management and general $1,204 · fundraising $1,806

  • 10 · Payroll taxes

    total $17,387 · program services $13,040 · management and general $1,739 · fundraising $2,608

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $2,188 · program services $0 · management and general $2,188 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $11,439 · program services $8,579 · management and general $1,144 · fundraising $1,716

  • 12 · Advertising and promotion

    total $29,373 · program services $22,030 · management and general $2,937 · fundraising $4,406

  • 13 · Office expenses

    total $1,392 · program services $1,044 · management and general $139 · fundraising $209

  • 14 · Information technology

    total $5,147 · program services $3,860 · management and general $515 · fundraising $772

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $15,907 · program services $11,930 · management and general $1,591 · fundraising $2,386

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Bad Debt

    total $12,000 · program services $12,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Meals & Entertainment

    total $1,746 · program services $1,309 · management and general $175 · fundraising $262

  • 24c · Other expenses: Design Services

    total $1,549 · program services $1,162 · management and general $155 · fundraising $232

  • 24d · Other expenses: In-Kind Goods

    total $26,700 · program services $26,700 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $2,528 · program services $1,896 · management and general $253 · fundraising $379

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $514,230 · end of year $420,341

  • 2 · Savings and temporary cash investments

    beginning of year $60,000 · end of year $60,000

  • 3 · Pledges and grants receivable

    beginning of year $175,417 · end of year $114,839

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,169 · end of year $915

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $139,986 · end of year $179,072

  • 27 · Net assets without donor restrictions

    beginning of year $111,472 · end of year -$102,910

  • 28 · Net assets with donor restrictions

    beginning of year $491,020 · end of year $518,103

Mission and programs · 2022

Mission

The RPM Foundation supports restoration and preservation training programs for the next generation of automotive, motorcycle and marine craftsmen. As the educational arm of America's Automotive Trust, the services, resources and grants provided by the RPM Foundation safeguard the future of the collector vehicle industry by sustaining hands-on training for young adults.

Activities or mission (Part I)

The RPM Foundation supports restoration and preservation training programs for the next generation of automotive, motorcycle and marine craftsmen. As the educational arm of America's Automotive Trust, the services, resources and grants provided by the RPM Foundation safeguard the future of the collector vehicle industry by sustaining hands-on training for young adults. The RPM Foundation is based in Chicago with an office in Tacoma, Washington, and Ambassadors in 11 states and abroad.

  • The RPM Foundation is dedicated to ensuring that critical skills necessary to preserve and restore collector vehicles are not lost by providing scholarships and educational grants to students and organizations committed to hands-on training of the trades. Total scholarships granted = 15.

    Expenses $390,094 · Grants $118,903 · Revenue $179,750

As filed on the 2022 return.

Listed in Part VII

  • David Madeira

    Vice Chair

    Total calculated
    $299,000
    From this org
    $0
    From related orgs
    $299,000
    Other
    $0
    Hours/week
    0.05 + 39.95 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $299,000 related

  • Paul Miller

    Sr Vice Pres, AAT

    Total calculated
    $286,759
    From this org
    $0
    From related orgs
    $246,598
    Other
    $40,161
    Hours/week
    0.05 + 39.95 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,598 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $21,944 related
    Nontaxable benefits
    $0 + $18,217 related
    Filer's total
    $0 + $286,759 related

  • Nick Ellis

    Exec Director, RPM

    Total calculated
    $107,497
    From this org
    $92,229
    From related orgs
    $0
    Other
    $15,268
    Hours/week
    38.9 + 1.1 related

  • Linda Merkel

    Exec Director, AOW

    Total calculated
    $80,815
    From this org
    $0
    From related orgs
    $80,815
    Other
    $0
    Hours/week
    0.05 + 1.1 related

  • TG Mittler

    Board Member

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Tom Hedges

    Secretary

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • B Corry McFarland

    Past Chairman

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • William Weyerhaeuser

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • James Gary May

    Board Member

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Michael Towers

    Chairman

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Gerald Greenfield

    Board Member

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Trevor Cobb

    Treasurer

    Total calculated
    $0
    Hours/week
    0.05 + 1.6 related

  • Gary Gartner

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Michael Holmes

    Board Member

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 related

  • Alan Granberg

    Board Member

    Total calculated
    $0
    Hours/week
    0.05 + 1.1 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
21 September 2023
IRS schema version
2022v5.0
Source object
202322689349300512

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