Form 990 for tax year 2023
Filed by CONCRETE ADVANCEMENT FOUNDATION INC.
Totals
- Total revenue
- $2,555,399
- Total expenses
- $2,802,065
- Contributions and grants received
- $634,834
- Grants paid
- $2,086,575
- Program service revenue
- $0
- Investment income
- $1,920,565
- Other revenue
- $0
- Total assets, end of year
- $25,431,410
- Total liabilities, end of year
- $182,161
- Net assets or fund balances, end of year
- $25,249,249
- Program services expenses (Part IX)
- $2,539,589
- Management and general expenses
- $262,476
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,539,589
Program services were 90.6% 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.
-
1f · All other contributions, gifts and grants
$634,834
-
3 · Investment income
total $391,479 · excluded $391,479
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $11,293,032
-
7b · Less cost or other basis and sales expenses
securities $9,763,946
-
7c · Gain or loss
securities $1,529,086
-
7d · Net gain or loss
total $1,529,086 · excluded $1,529,086
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,086,575 · program services $2,086,575
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $331,008 · program services $281,357 · management and general $49,651
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $158,592 · program services $126,874 · management and general $31,718
-
8 · Pension plan contributions
total $8,561 · program services $6,849 · management and general $1,712
-
9 · Other employee benefits
total $22,813 · program services $19,372 · management and general $3,441
-
10 · Payroll taxes
total $23,171 · program services $18,537 · management and general $4,634
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $42,440 · management and general $42,440
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,203 · management and general $1,203
-
14 · Information technology
total $3,378 · management and general $3,378
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $24,590 · management and general $24,590
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $11,322 · program services $25 · management and general $11,297
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $6,179 · management and general $6,179
-
24a · Other expenses: Consulting
total $57,150 · management and general $57,150
-
24b · Other expenses: Retirement plan fees
total $9,902 · management and general $9,902
-
24c · Other expenses: Printing and Publications
total $7,745 · management and general $7,745
-
24d · Other expenses: dues and subscriptions
total $4,286 · management and general $4,286
-
24e · All other expenses
total $3,150 · management and general $3,150
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $0
-
2 · Savings and temporary cash investments
beginning of year $580,555 · end of year $336,747
-
3 · Pledges and grants receivable
beginning of year $707,290 · end of year $481,738
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,372 · end of year $208,336
-
10a · Land, buildings and equipment: cost or other basis
$80,000
-
10b · Land, buildings and equipment: accumulated depreciation
$80,000
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $22,921,874 · end of year $24,309,779
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $78,264 · end of year $94,810
-
17 · Accounts payable and accrued expenses
beginning of year $195,653 · end of year $182,161
-
27 · Net assets without donor restrictions
beginning of year $23,272,262 · end of year $24,652,936
-
28 · Net assets with donor restrictions
beginning of year $821,440 · end of year $596,313
Mission and programs · 2023
Mission
The Foundation is dedicated to enhancing and strengthening the concrete industry through independent research and quality education programming.
-
Massachusetts Institute of Technology Concrete Sustainability Hub (MIT CSHub):The MIT CSHub brings together leaders from academia, industry, and government to develop breakthroughs using a holistic approach that will achieve durable and sustainable homes, buildings, and infrastructure in ever more demanding environments.The mission of the CSHub is to develop breakthroughs that will achieve sustainable and durable homes, buildings, and infrastructure. This is approached by conducting research to reduce the impact of producing and using concrete, and to develop tools to support infrastructure decisions: life-cycle environmental, cost, and hazard resistance.Research at the MIT CSHub has been organized around three focus areas: concrete materials science, building technology and the econometrics of sustainable development.
Expenses $2,434,213 · Grants $1,999,992
-
NRMCA -The objective of this study was to investigate optimization of rebar area and spacing in reinforced concrete walls, including ICF walls commonly used in low- and mid-rise construction. This can increase the sustainability of construciton by using less material.
Expenses $38,947 · Grants $32,000
-
The Skate4Concrete project includes development of videos educating young people about concrete and skateparks, resources for learning more about careers in concrete and the development of a high school level concrete certification recognized by the concrete industry.
Expenses $30,427 · Grants $25,000
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Julie Garbini
Executive Dir.
- Total calculated
- $331,008
- From this org
- $287,310
- From related orgs
- $0
- Other
- $43,698
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $256,527
- Bonus
- $30,783
- Other
- not reported
- Deferred
- $15,392
- Nontaxable benefits
- $28,306
- Filer's total
- $331,008
-
Jennifer LeFevre
Program Director
- Total calculated
- $171,465
- From this org
- $139,936
- From related orgs
- $0
- Other
- $31,529
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $138,186
- Bonus
- $1,750
- Other
- not reported
- Deferred
- $8,396
- Nontaxable benefits
- $23,133
- Filer's total
- $171,465
-
Christopher Schenone
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Rodney Grogan
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Tim Becken
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Scott ParsonSCOTT PARSON
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
John Holliday
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Henry R BattenHENRY R BATTEN
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
John Ernst
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Jonathan Randall
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael Ireland
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Alex CarALEX CAR
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Ted ChandlerTED CHANDLER
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Tom Strittmatter
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Joel Galassini
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Francis Hall Chaney
Vice-Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Steve Williams
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Martin Willoughby
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Jamie Gentoso
Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Massimo Toso
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Michael Philipps
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Pete Lyons
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Bruce Christensen
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Filiberto Ruiz
Sec.TTreasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Abbott Lawrence
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
-
Bill Mullen
Trustee
- Total calculated
- $0
- Hours/week
- 0.5
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
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 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 III, Additional Information
- Schedule j, Part II, column (b)(ii):2023 Bonus and incentive compensation for Ms. Garbini included the 2023 bonus of $30,783 which was earned and paid in 2023.2023 Bonus and incentive compensation for Ms. LeFevre included the 2023 bonus of $1,750 which was earned and paid in 2023.
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
-
see attached schedule
$2,086,575
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.
-
501(C)(6) · TRADE ASSOCIATION · MD
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 11 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443169349302509
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