← AMERICAN SOCIETY OF MECHANICAL ENGINEERS

Form 990 for tax year 2022

Filed by AMERICAN SOCIETY OF MECHANICAL ENGINEERS.

Totals

Total revenue: $160,466,638
Total expenses: $130,099,497
Contributions and grants received: $2,886,465
Grants paid: $1,286,500
Program service revenue: $54,806,212
Investment income: $46,705,606
Other revenue: $56,068,355
Total assets, end of year: $250,705,240
Total liabilities, end of year: $100,734,352
Net assets or fund balances, end of year: $149,970,888
Program services expenses (Part IX): $102,059,672
Management and general expenses: $27,831,102
Fundraising expenses: $208,723
Program service expenses (Part III): $102,059,672

Program services were 78.4% 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

$1,372,517
1e · Government grants (contributions)

$13,828
1f · All other contributions, gifts and grants

$1,500,120
2a · Program service revenue: ENGINEERING OPERATIONS

total $34,747,892 · related or exempt $34,747,892
2b · Program service revenue: TECHNICAL EVENTS & CON

total $9,273,315 · related or exempt $9,273,315
2c · Program service revenue: LEARNING AND DEVELOPME

total $5,234,463 · related or exempt $5,234,463
2d · Program service revenue: CONSTITUENT ENGAGEMENT

total $4,516,872 · related or exempt $4,516,872
2e · Program service revenue: STANDARDS OPERATIONS

total $359,890 · related or exempt $359,890
2f · All other program service revenue

total $673,780 · related or exempt $47,728 · unrelated business $626,052
3 · Investment income

total $3,071,413 · excluded $3,071,413
5 · Royalties

total $42,522,149 · excluded $42,522,149
7a · Gross sales of assets other than inventory

securities $90,591,605
7b · Less cost or other basis and sales expenses

securities $46,957,412
7c · Gain or loss

securities $43,634,193
7d · Net gain or loss

total $43,634,193 · excluded $43,634,193
10a · Gross sales of inventory

$18,426,587
10b · Cost of goods sold

$5,324,333
10c · Net income from sales of inventory

total $13,102,254 · related or exempt $13,102,254
11a · Other revenue: JOB BOARD

total $275,661 · unrelated business $275,661
11b · Other revenue: OTHER REVENUE

total $168,291 · unrelated business $6,927 · excluded $161,364
11e · Other revenue, total

$443,952

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $1,286,500 · program services $1,286,500
5 · Compensation of officers, directors and key employees

total $4,140,439 · program services $3,493,480 · management and general $646,959
7 · Other salaries and wages

total $42,384,769 · program services $35,761,986 · management and general $6,622,783
8 · Pension plan contributions

total $2,901,424 · program services $2,448,065 · management and general $453,359
9 · Other employee benefits

total $11,863,518 · program services $10,009,798 · management and general $1,853,720
10 · Payroll taxes

total $3,040,696 · program services $2,565,576 · management and general $475,120
11b · Fees: legal

total $3,139,895 · program services $3,133,315 · management and general $6,580
11c · Fees: accounting

total $308,328 · program services $8,828 · management and general $299,500
11d · Fees: lobbying

total $333,295 · program services $333,295
11e · Fees: professional fundraising services

total $208,723 · fundraising $208,723
11f · Fees: investment management

total $182,720 · management and general $182,720
11g · Fees: other

total $5,922,803 · program services $5,757,053 · management and general $165,750
12 · Advertising and promotion

total $2,464,681 · program services $2,452,553 · management and general $12,128
13 · Office expenses

total $2,135,500 · program services $1,944,398 · management and general $191,102
14 · Information technology

total $4,544,632 · program services $1,861,224 · management and general $2,683,408
16 · Occupancy

total $6,247,575 · program services $97,736 · management and general $6,149,839
17 · Travel

total $2,972,726 · program services $1,763,093 · management and general $1,209,633
19 · Conferences, conventions and meetings

total $6,327,024 · program services $6,120,062 · management and general $206,962
20 · Interest

total $155,649 · management and general $155,649
22 · Depreciation, depletion and amortization

total $3,871,790 · program services $612,903 · management and general $3,258,887
23 · Insurance

total $545,962 · management and general $545,962
24a · Other expenses: DIRECT COSTS FOR PROGRA

total $13,009,273 · program services $13,009,273
24b · Other expenses: OTHER PROGRAM-RELATED E

total $9,963,773 · program services $8,038,753 · management and general $1,925,020
24c · Other expenses: PROFESSIONAL SUPPORT

total $1,490,645 · program services $704,624 · management and general $786,021
24d · Other expenses: AWARDS AND HONORARIUMS

total $657,157 · program services $657,157

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $13,767,275 · end of year $84,421,471
4 · Accounts receivable

beginning of year $19,374,211 · end of year $14,339,861
7 · Other notes and loans receivable

beginning of year $82,684 · end of year $1,509,712
9 · Prepaid expenses and deferred charges

beginning of year $5,730,135 · end of year $6,550,218
10a · Land, buildings and equipment: cost or other basis

$57,342,868
10b · Land, buildings and equipment: accumulated depreciation

$48,757,539
10c · Land, buildings and equipment, net

beginning of year $11,915,620 · end of year $8,585,329
11 · Investments: publicly traded securities

beginning of year $92,551,664 · end of year $109,312,062
15 · Other assets

beginning of year $25,408,695 · end of year $25,986,587
17 · Accounts payable and accrued expenses

beginning of year $32,283,479 · end of year $35,484,770
19 · Deferred revenue

beginning of year $22,916,022 · end of year $39,251,606
25 · Other liabilities

beginning of year $0 · end of year $25,997,976
27 · Net assets without donor restrictions

beginning of year $113,210,129 · end of year $149,536,626
28 · Net assets with donor restrictions

beginning of year $420,654 · end of year $434,262

Mission and programs · 2022

Mission

THE MISSION OF THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS ("ASME") IS TO ADVANCE ENGINEERING FOR THE BENEFIT OF HUMANITY.

Activities or mission (Part I)

TO ADVANCE ENGINEERING FOR THE BENEFIT OF HUMANITY.

TECHNICAL EVENTS & CONTENT- ASME ANNUALLY PERFORMS RESEARCH ON TECHNICAL MECHANICAL ENGINEERING ISSUES, AND HOLDS TECHNICAL MEETINGS AND CONFERENCES FOR MECHANICAL ENGINEERS ON A VARITY OF MECHANICAL ENGINEERING TOPICS AND SUBJECTS.

Expenses $25,767,042 · Grants $1,286,500 · Revenue $9,273,315
STANDARDS OPERATIONS- ASME ESTABLISHES AND PUBLISHES PUBLIC SAFETY RELATED INDUSTRIAL AND MANUFACTURING CODES AND STANDARDS FOR THE DESIGN, MANUFACTURING, AND INSTALLATION OF MECHANICAL DEVICES. THE PRINCIPAL PRODUCT AFFECTING REVENUE AND EXPENSES IS THE SOCIETY'S BOILER AND PRESSURE VESSEL CODE (THE BOILER CODE).

Expenses $21,390,676 · Revenue $3,734,963
ENGINEERING OPERATIONS- ASME HOSTS PROGRAMS UNDER WHICH A COMPANY OR AN INDIVIDUAL IS ASSESSED AND CERTIFIED BASED ON DEMONSTRATED ABILITY TO MEET THE REQUIREMENTS OF AN ASME STANDARD. THESE CONFORMITY ASSESSMENTS CONTINUE TO PROVIDE A SERVICE VITAL TO THE ENHANCEMENT OF PUBLIC SAFETY AND FACILITATION OF INTERNATIONAL COMMERCE.

Expenses $22,735,707 · Revenue $34,747,892
PUBLICATIONS- ASME PRODUCES AND PREPARES THE TECHNICAL CONTENT OF THE SOCIETY FOR PUBLIC DISTRIBUTION AND SALE IN THE FORM OF JOURNALS, CONFERENCE PROCEEDINGS AND BOOKS, BOTH IN PRINT AND ELECTRONIC MEDIA.

Expenses $14,588,841 · Revenue $10,398,350
PROGRAMS- ASME HOSTS CONFERENCES AND WORKSHOPS TO HELP IDENTIFY EMERGING ISSUES OF INTEREST TO MEMBERS AND THE ENGINEERING PROFESSION AT LARGE.

Expenses $1,359,954
LEARNING & DEVELOPMENT- ASME PROVIDES CONTINUING EDUCATION COURSES FOR ENGINEERING AND THE TECHNICAL WORKFORCE.

Expenses $8,089,586 · Revenue $5,234,463
CONSTITUENT ENGAGEMENT- ASME OFFERS PROFESSIONAL AND STUDENT MECHANICAL ENGINEERING SOCIETY MEMBERSHIPS. IN EXCHANGE FOR DUES PAYMENTS, THE MEMBER RECEIVES SEVERAL MEMBERSHIP BENEFITS INCLUDING, BUT NOT LIMITED TO, MONTHLY SUBSCRIPTION TO 'MECHANICAL ENGINEER' MAGAZINE, FREE ACCESS TO ON-LINE REFERENCE TOOLS, FREE SUBSCRIPTION TO DAILY E-NEWSLETTER, AND DISCOUNTS ON ASME PUBLICATIONS, CONTINUING EDUCATION AND CONFERENCE REGISTRATIONS.

Expenses $5,718,785 · Revenue $3,834,869
MISC./OTHER PROGRAMS

Expenses $2,409,081 · Revenue $684,614

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

Listed in Part VII

Thomas CostabileTHOMAS COSTABILE

EXECUTIVE DIRECTOR/CEO

Total calculated

$1,179,732

From this org

$1,059,774

From related orgs

$0

Other

$119,958

Hours/week

40 + 2.5 related

Schedule J breakdown matched by us

Base

$601,337

Bonus

$356,000

Other

$102,437

Deferred

$84,235

Nontaxable benefits

$35,723

Filer's total

$1,179,732
Michael JohnsonMICHAEL JOHNSON

CHIEF STRATEGY OFFICER

Total calculated

$767,666

From this org

$748,639

From related orgs

$0

Other

$19,027

Hours/week

40

Schedule J breakdown matched by us

Base

$483,192

Bonus

$231,171

Other

$34,276

Deferred

$18,300

Nontaxable benefits

$727

Filer's total

$767,666
Jeffrey PattersonJEFFREY PATTERSON

CHIEF OPERATING OFFICER

Total calculated

$766,763

From this org

$712,337

From related orgs

$0

Other

$54,426

Hours/week

40

Schedule J breakdown matched by us

Base

$480,533

Bonus

$219,047

Other

$12,757

Deferred

$21,350

Nontaxable benefits

$33,076

Filer's total

$766,763
William GarofaloWILLIAM GAROFALO

CHIEF FINANCIAL OFFICER

Total calculated

$748,389

From this org

$726,097

From related orgs

$0

Other

$22,292

Hours/week

40

Schedule J breakdown matched by us

Base

$474,061

Bonus

$227,061

Other

$24,975

Deferred

$22,292

Nontaxable benefits

$0

Filer's total

$748,389
John Delli VenneriJOHN DELLI VENNERI

GENERAL COUNSEL

Total calculated

$677,889

From this org

$608,663

From related orgs

$0

Other

$69,226

Hours/week

40

Schedule J breakdown matched by us

Base

$402,299

Bonus

$200,348

Other

$6,016

Deferred

$24,400

Nontaxable benefits

$44,826

Filer's total

$677,889
Keith BloeschKEITH BLOESCH

SR. MANAGING DIRECTOR

Total calculated

$503,075

From this org

$481,650

From related orgs

$0

Other

$21,425

Hours/week

40

Schedule J breakdown matched by us

Base

$358,084

Bonus

$122,553

Other

$1,013

Deferred

$21,425

Nontaxable benefits

$0

Filer's total

$503,075
Philip DivietroPHILIP DIVIETRO

MANAGING DIRECTOR

Total calculated

$498,441

From this org

$453,383

From related orgs

$0

Other

$45,058

Hours/week

40

Schedule J breakdown matched by us

Base

$329,348

Bonus

$104,404

Other

$19,631

Deferred

$17,512

Nontaxable benefits

$27,546

Filer's total

$498,441
Allian PrattALLIAN PRATT

CHIEF LEADERSHIP ENGAGEMENT OFFICER

Total calculated

$496,142

From this org

$438,963

From related orgs

$0

Other

$57,179

Hours/week

40

Schedule J breakdown matched by us

Base

$342,521

Bonus

$93,569

Other

$2,873

Deferred

$24,400

Nontaxable benefits

$32,779

Filer's total

$496,142
Josh HeitsenretherJOSH HEITSENRETHER

SR. MANAGING DIRECTOR

Total calculated

$486,920

From this org

$431,941

From related orgs

$0

Other

$54,979

Hours/week

40

Schedule J breakdown matched by us

Base

$308,312

Bonus

$122,605

Other

$1,024

Deferred

$21,350

Nontaxable benefits

$33,629

Filer's total

$486,920
Chandra CloudenCHANDRA CLOUDEN

CHIEF HR OFFICER

Total calculated

$481,942

From this org

$450,112

From related orgs

$0

Other

$31,830

Hours/week

40

Schedule J breakdown matched by us

Base

$339,361

Bonus

$109,725

Other

$1,026

Deferred

$15,118

Nontaxable benefits

$16,712

Filer's total

$481,942
Andrew BicosANDREW BICOS

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Dave SchlesingerDAVE SCHLESINGER

MEMBER AT LARGE (START 6/5/23)

Total calculated

$0

Hours/week

4
Jared OehringJARED OEHRING

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Kathryn JablokowKATHRYN JABLOKOW

MEMBER AT LARGE (START 6/5/23)

Total calculated

$0

Hours/week

4
Mahantesh HiremathMAHANTESH HIREMATH

PAST PRESIDENT (END 6/5/23)

Total calculated

$0

Hours/week

4
Monica Moman-SaundersMONICA MOMAN-SAUNDERS

MEMBER AT LARGE (START 6/5/23)

Total calculated

$0

Hours/week

4
Patrick ViethPATRICK VIETH

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Paul D StevensonPAUL D STEVENSON

MEMBER AT LARGE (END 6/5/23)

Total calculated

$0

Hours/week

4
Richard MarboeRICHARD MARBOE

MEMBER AT LARGE (END 6/5/23)

Total calculated

$0

Hours/week

4
Samuel KorellisSAMUEL KORELLIS

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Susan Ipri-BrownSUSAN IPRI-BROWN

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Thomas GardnerTHOMAS GARDNER

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Wolf YeighWOLF YEIGH

MEMBER AT LARGE

Total calculated

$0

Hours/week

4
Karen J OhlandKAREN J OHLAND

PRESIDENT (END 6/5/23)

Total calculated

$0

Hours/week

4
Thomas R KurfessTHOMAS R KURFESS

PRESIDENT (START 6/5/23)

Total calculated

$0

Hours/week

4
John GoossenJOHN GOOSSEN

SECRETARY-TREASURER (END 5/3/23)

Total calculated

$0

Hours/week

4

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

1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Independent compensation consultant
3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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 1A: ASME PAID FOR THE SOCIAL CLUB DUES FOR ONE OFFICER FOR BUSINESS PURPOSES. THIS BENEFIT WAS NOT TAXABLE TO THE RECIPIENT.
PART I, LINE 4B: ASME MAINTAINS A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE FOLLOWING INDIVIDUAL PARTICIPATED IN THE PLAN DURING 2022, WITH THE AMOUNT REPORTED IN SCHEDULE J, PART II, COLUMN (C): THOMAS COSTABILE: $65,935

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

THE ASME FOUNDATION INC

$1,286,500

MISSION-DRIVEN PROGRAMS

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.

THE ASME FOUNDATION INC

501(C)(3) · FUNDRAISING AND GRANTS · NY · controlled entity

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

ASME INNOVATIVE TECHNOLOGIES INSTITUTE LLC

CODE DEVELOPMENT · NY · income $186,831 · assets $275,398

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ASME STANDARDS TECHNOLOGY LLC

CODE DEVELOPMENT · NY · income $4,645,817 · assets $623,878

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ASME ASIA PACIFIC LLC

TRAINING · CH · income $2,696,845 · assets $114,194

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ASME ENGINEERING FOR CHANGE LLC

TRAINING · NY · income $1,515,689 · assets $616,295

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ASME PERSONNEL CERTIFICATIONS LLC

TRAINING · NY · income $0 · assets $5,212

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ASME EAST ASIA HOLDING LLC

TRAINING · NY · income $0 · assets $0

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ENGINEERING SOCIETIES OF AMERICA

ENGINEERING SOCIETY · NY · income $0 · assets $0

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ISIE HOLDINGS III LLC

EMPLOYEE BENEFIT HOLDING · DE · income $0 · assets $0

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

TWINIFY TECHNOLOGIES LLC

DIGITAL TWINNING · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

ASME INDIA PRIVATE LTD

C · MARKETING · IN · 100% owned · share of income $827,283 · share of assets $489,798 · controlled entity

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
THE INTERNATIONAL SOCIETY OF INTERDISCIPLINARY ENGINEERS LLC

C · ENGINEERING SOCIETY · NY · 100% owned · share of income $70,015,873 · controlled entity

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
METRIX CONNECT LLC

C · INDUSTRY EVENTS · DE · 100% owned · controlled entity

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS
ISIE HOLDINGS II LLC

C · HOLDING COMPANY · DE · 100% owned · controlled entity

Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

Provenance

Return type: form_990
Tax year: 2022
Filed: 13 May 2024
IRS schema version: 2022v5.0
Source object: 202401359349308735

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