Form 990 for tax year 2022

Filed by REPRESENTATIVE OF GERMAN BUSINESS.

Totals

Total revenue: $2,577,196
Total expenses: $2,464,013
Contributions and grants received: $2,266,324
Grants paid: $0
Program service revenue: $273,399
Investment income: $0
Other revenue: $37,473
Total assets, end of year: $2,893,722
Total liabilities, end of year: $2,565,173
Net assets or fund balances, end of year: $328,549
Program services expenses (Part IX): $1,878,063
Management and general expenses: $585,950
Fundraising expenses: $0
Program service expenses (Part III): $1,878,063

Program services were 76.2% 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.

1b · Membership dues

$17,655
1e · Government grants (contributions)

$2,248,669
2a · Program service revenue: CONSULTING SERVICES

total $273,399 · related or exempt $273,399
6a · Gross rents

real property $327,646
6b · Less rental expenses

real property $327,646
6c · Rental income or loss

real property $0
6d · Net rental income or loss

total $0
11a · Other revenue: MISC REVENUE - EXEMPT

total $37,473 · related or exempt $37,473
11e · Other revenue, total

$37,473

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $528,522 · program services $495,117 · management and general $33,405
7 · Other salaries and wages

total $928,128 · program services $785,603 · management and general $142,525
9 · Other employee benefits

total $126,980 · program services $105,639 · management and general $21,341
10 · Payroll taxes

total $117,840 · program services $106,524 · management and general $11,316
11g · Fees: other

total $238,556 · management and general $238,556
13 · Office expenses

total $3,962 · program services $2,575 · management and general $1,387
16 · Occupancy

total $118,283 · program services $76,884 · management and general $41,399
17 · Travel

total $38,184 · program services $26,958 · management and general $11,226
22 · Depreciation, depletion and amortization

total $26,973 · program services $17,532 · management and general $9,441
23 · Insurance

total $13,347 · management and general $13,347
24a · Other expenses: PROJECT COST

total $222,301 · program services $222,301
24b · Other expenses: MISC EXPENSE

total $52,370 · program services $388 · management and general $51,982
24c · Other expenses: CONVENTIONS AND PROMO

total $16,876 · program services $16,876
24d · Other expenses: TELEPHONE

total $15,918 · program services $10,347 · management and general $5,571
24e · All other expenses

total $15,773 · program services $11,319 · management and general $4,454

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,038,648 · end of year $1,008,832
4 · Accounts receivable

beginning of year $371,149 · end of year $254,169
9 · Prepaid expenses and deferred charges

beginning of year $22,251 · end of year $10,493
10a · Land, buildings and equipment: cost or other basis

$174,622
10b · Land, buildings and equipment: accumulated depreciation

$138,685
10c · Land, buildings and equipment, net

beginning of year $58,333 · end of year $35,937
15 · Other assets

beginning of year $83,000 · end of year $1,584,291
17 · Accounts payable and accrued expenses

beginning of year $131,791 · end of year $370,023
19 · Deferred revenue

beginning of year $29,179 · end of year $91,917
24 · Unsecured notes and loans payable

beginning of year $882,109 · end of year $499,875
25 · Other liabilities

beginning of year $283,469 · end of year $1,603,358
27 · Net assets without donor restrictions

beginning of year $246,833 · end of year $328,549

Mission and programs · 2022

Mission

THE REPRESENTATIVE OF GERMAN BUSINESS MISSION IS TO SUPPORT, PROMOTE AND MAXAMIZE TRADE AND INVESTMENT RELATIONSHIPS BETWEEN THE FEDERAL REPUBLIC OF GERMANY AND THE U.S.A.

AS PART OF REPRESENTATIVE OF GERMAN BUSINESS (RGB) SERVICES IN ESTABLISHING BUSINESS PRESENCE IN THE U.S., RGB OFFERS CONSULTING SERVICES. THESE SERVICES INCLUDE A WIDE RANGE OF INTEGRATIVE OPTIONS, FROM DETAILED MARKET STUDIES TO BUSINESS CORRESPONDENCE SERVICES TO POTENTIAL PARTNERS. RGB CUSTOMIZES ITS' SERVICES ACCORDING TO EACH CLIENT'S NEEDS SO THAT IT IS ABLE TO OFFER THE BEST BUSINESS PARTNER REFERRALS. FURTHERMORE, RGB COORDINATES INCENTIVE PROGRAMS TO FACILITATE COMPANIES IN EXPORTING TO THE US. CONSULTING SERVICES INCLUDE: MARKET STUDIES; OFFICE REPRESENTATIONS; INDIVIDUAL BUSINESS PARTNER ARRANGEMENT; US MARKET DEVELOPMENT AND VHP USA.

Expenses $1,878,063 · Revenue $310,872
WITH ITS INNOVATION CENTERS IN SILICON VALLEY, SEATTLE, LOS ANGELES AND PHOENIX, THE WESTERN UNITED STATES IS ONE OF THE MOST IMPORTANT BUSINESS LOCATIONS IN THE WORLD. ESPECIALLY SILICON VALLEY IS THE DRIVING FORCE BEHIND DIGITALIZATION. FUTURE TRENDS AND POTENTIAL RISK CAN BE IDENTIFIED HERE, AND YOU CAN EASILY GET IN TOUCH WITH IMPORTANT TECHNOLOGIES AND BUSINESS PARTNERS. THE INNOVATION SOLUTIONS TEAM OF THE REPRESENTATIVE OF GERMAN BUSINESS (RGB) IS BUILDING A BRIDGE TO THE WESTERN UNITED STATES AND SILICON VALLEY. WITH THE HELP OF AN ESTABLISHED NETWORK OF INDUSTRY, TECHNOLOGY AND INNOVATION EXPERTS, THE RGB SUPPORTS GERMAN COMPANIES TO MASTER CHALLENGES OF DIGITALIZATION. THIS EQUIPS GERMAN COMPANIES WITH A DECISIVE COMPETITIVE ADVANTAGE.

As filed on the 2022 return.

Listed in Part VII

Benjamin LeipoldBENJAMIN LEIPOLD

CHAIRMAN

Total calculated

$0

Hours/week

1
Sven PotthoffSVEN POTTHOFF

PRESIDENT & CEO

Total calculated

$704,220

From this org

$670,401

From related orgs

$0

Other

$33,819

Hours/week

38

Schedule J breakdown matched by us

Base

$670,401

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$33,819

Filer's total

$704,220
Thorsten WilkeTHORSTEN WILKE

VICE CHAIRMAN

Total calculated

$0

Hours/week

1
Mirko WutzlerMIRKO WUTZLER

VICE PRESIDENT

Total calculated

$201,399

From this org

$169,289

From related orgs

$0

Other

$32,110

Hours/week

38

Schedule J breakdown matched by us

Base

$169,289

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$32,110

Filer's total

$201,399

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

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

No itemized grants to organizations 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.

DIHK

NA · SUPPORT TRADE · GM

Provenance

Return type: form_990
Tax year: 2022
Filed: 24 August 2023
IRS schema version: 2022v5.0
Source object: 202332379349300308

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