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← AMERICAN SOCIETY OF MECHANICAL ENGINEERS

Form 990 for tax year 2023

Filed by AMERICAN SOCIETY OF MECHANICAL ENGINEERS.

Totals

Total revenue
$136,701,086
Total expenses
$152,496,058
Contributions and grants received
$3,323,009
Grants paid
$2,467,295
Program service revenue
$58,592,809
Investment income
-$5,026,644
Other revenue
$79,811,912
Total assets, end of year
$226,598,178
Total liabilities, end of year
$81,586,516
Net assets or fund balances, end of year
$145,011,662
Program services expenses (Part IX)
$90,819,600
Management and general expenses
$61,494,014
Fundraising expenses
$182,444
Program service expenses (Part III)
$90,819,600

Program services were 59.6% 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.

  • 1d · Related organizations

    $1,337,787

  • 1f · All other contributions, gifts and grants

    $1,985,222

  • 2a · Program service revenue: ENGINEERING OPERATIONS

    total $36,163,886 · related or exempt $36,163,886

  • 2b · Program service revenue: TECHNICAL EVENTS & CON

    total $11,147,026 · related or exempt $11,147,026

  • 2c · Program service revenue: LEARNING AND DEVELOPME

    total $5,666,180 · related or exempt $5,666,180

  • 2d · Program service revenue: CONSTITUENT ENGAGEMENT

    total $4,210,315 · related or exempt $4,210,315

  • 2e · Program service revenue: STANDARDS OPERATIONS

    total $389,911 · related or exempt $389,911

  • 2f · All other program service revenue

    total $1,015,491 · related or exempt $288,095 · unrelated business $727,396

  • 3 · Investment income

    total $5,826,097 · excluded $5,826,097

  • 5 · Royalties

    total $46,377,618 · excluded $46,377,618

  • 7a · Gross sales of assets other than inventory

    securities $1,413,621

  • 7b · Less cost or other basis and sales expenses

    securities $12,266,362

  • 7c · Gain or loss

    securities -$10,852,741

  • 7d · Net gain or loss

    total -$10,852,741 · excluded -$10,852,741

  • 10a · Gross sales of inventory

    $38,968,527

  • 10b · Cost of goods sold

    $5,870,680

  • 10c · Net income from sales of inventory

    total $33,097,847 · related or exempt $33,097,847

  • 11a · Other revenue: JOB BOARD

    total $238,212 · unrelated business $238,212

  • 11b · Other revenue: OTHER INCOME

    total $98,235 · excluded $98,235

  • 11e · Other revenue, total

    $336,447

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,467,295 · program services $2,467,295

  • 5 · Compensation of officers, directors and key employees

    total $6,619,854 · program services $4,189,044 · management and general $2,430,810

  • 7 · Other salaries and wages

    total $45,885,749 · program services $29,034,528 · management and general $16,851,221

  • 8 · Pension plan contributions

    total $1,831,752 · program services $1,159,682 · management and general $672,070

  • 9 · Other employee benefits

    total $14,774,084 · program services $8,465,890 · management and general $6,308,194

  • 10 · Payroll taxes

    total $3,181,150 · program services $2,013,986 · management and general $1,167,164

  • 11b · Fees: legal

    total $1,560,304 · program services $1,388,885 · management and general $171,419

  • 11c · Fees: accounting

    total $248,744 · program services $9,781 · management and general $238,963

  • 11d · Fees: lobbying

    total $61,847 · program services $61,847

  • 11e · Fees: professional fundraising services

    total $182,444 · fundraising $182,444

  • 11f · Fees: investment management

    total $200,923 · management and general $200,923

  • 11g · Fees: other

    total $5,073,175 · program services $4,994,404 · management and general $78,771

  • 12 · Advertising and promotion

    total $2,874,015 · program services $2,868,915 · management and general $5,100

  • 13 · Office expenses

    total $2,172,433 · program services $2,105,195 · management and general $67,238

  • 14 · Information technology

    total $6,250,779 · program services $3,098,978 · management and general $3,151,801

  • 16 · Occupancy

    total $20,157,946 · program services $116,858 · management and general $20,041,088

  • 17 · Travel

    total $3,871,688 · program services $2,358,386 · management and general $1,513,302

  • 19 · Conferences, conventions and meetings

    total $7,627,266 · program services $7,349,483 · management and general $277,783

  • 22 · Depreciation, depletion and amortization

    total $6,430,107 · program services $471,419 · management and general $5,958,688

  • 23 · Insurance

    total $1,225,578 · program services $20,038 · management and general $1,205,540

  • 24a · Other expenses: DIRECT COSTS FOR PROGRA

    total $13,221,165 · program services $13,221,165

  • 24b · Other expenses: PROFESSIONAL SUPPORT

    total $1,651,609 · program services $700,393 · management and general $951,216

  • 24c · Other expenses: AWARDS AND HONORARIUMS

    total $591,480 · program services $591,480

  • 24d · Other expenses: TAXES

    total $260,565 · program services $57,842 · management and general $202,723

  • 24e · All other expenses

    total $4,074,106 · program services $4,074,106

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $84,421,471 · end of year $24,529,606

  • 4 · Accounts receivable

    beginning of year $14,339,861 · end of year $18,725,598

  • 7 · Other notes and loans receivable

    beginning of year $1,509,712 · end of year $134,116

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,550,218 · end of year $8,256,700

  • 10a · Land, buildings and equipment: cost or other basis

    $41,716,509

  • 10b · Land, buildings and equipment: accumulated depreciation

    $36,951,912

  • 10c · Land, buildings and equipment, net

    beginning of year $8,585,329 · end of year $4,764,597

  • 11 · Investments: publicly traded securities

    beginning of year $109,312,062 · end of year $167,675,871

  • 15 · Other assets

    beginning of year $25,986,587 · end of year $2,511,690

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,484,770 · end of year $33,904,937

  • 19 · Deferred revenue

    beginning of year $39,251,606 · end of year $27,001,633

  • 25 · Other liabilities

    beginning of year $25,997,976 · end of year $20,679,946

  • 27 · Net assets without donor restrictions

    beginning of year $149,536,626 · end of year $144,555,860

  • 28 · Net assets with donor restrictions

    beginning of year $434,262 · end of year $455,802

Mission and programs · 2023

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 AND INSTITUTES- 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 $22,286,351 · Grants $2,467,295 · Revenue $11,147,026

  • 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 $17,122,408 · Revenue $22,886,529

  • 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 $18,310,118 · Revenue $36,163,886

  • 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 $16,207,414 · Revenue $11,221,205

  • PROGRAMS- ASME HOSTS CONFERENCES AND WORKSHOPS TO HELP IDENTIFY EMERGING ISSUES OF INTEREST TO MEMBERS AND THE ENGINEERING PROFESSION AT LARGE.

    Expenses $1,033,775

  • LEARNING & DEVELOPMENT- ASME PROVIDES CONTINUING EDUCATION COURSES FOR ENGINEERING AND THE TECHNICAL WORKFORCE.

    Expenses $8,510,279 · Revenue $5,666,180

  • 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 $5,309,907 · Revenue $3,577,708

  • MISC./OTHER PROGRAMS

    Expenses $2,039,348 · Revenue $1,028,122

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alma Fallon

    MEMBER AT LARGE (START 7/1/23)

    Total calculated
    $0
    Hours/week
    4

  • Andrew Bicos

    MEMBER AT LARGE (END 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • David Schlesinger

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    4

  • Janis Terpenny

    MEMBER AT LARGE (START 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Jared Oehring

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    4

  • Kathryn Jablokow

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    4

  • Lester Su

    MEMBER AT LARGE (START 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Monica Moman-Saunders

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    4

  • Nicole Dyess

    MEMBER AT LARGE (START 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Patrick Vieth

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    4

  • Samuel Korellis

    MEMBER AT LARGE (END 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Susan Ipri-Brown

    PRESIDENT (INCUMBENT)/MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Thomas Gardner

    MEMBER AT LARGE (END 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Thomas R Kurfess

    PRESIDENT (EXITING)/MEMBER

    Total calculated
    $0
    Hours/week
    4

  • William King

    MEMBER AT LARGE (START 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Wolf Yeigh

    MEMBER AT LARGE (END 6/3/24)

    Total calculated
    $0
    Hours/week
    4

  • Thomas Costabile

    EXECUTIVE DIRECTOR/CEO

    Total calculated
    $2,305,655
    From this org
    $1,452,049
    From related orgs
    $0
    Other
    $853,606
    Hours/week
    40 + 2.5 related

    Schedule J breakdown matched by us

    Base
    $709,155
    Bonus
    $695,920
    Other
    $46,974
    Deferred
    $820,311
    Nontaxable benefits
    $33,295
    Filer's total
    $2,305,655

  • William Garofalo

    CHIEF FINANCIAL OFFICER

    Total calculated
    $1,007,950
    From this org
    $981,550
    From related orgs
    $0
    Other
    $26,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $449,665
    Bonus
    $504,770
    Other
    $27,115
    Deferred
    $26,400
    Nontaxable benefits
    $0
    Filer's total
    $1,007,950

  • John Delli Venneri

    GENERAL COUNSEL

    Total calculated
    $876,813
    From this org
    $809,120
    From related orgs
    $0
    Other
    $67,693
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,175
    Bonus
    $402,738
    Other
    $6,207
    Deferred
    $26,400
    Nontaxable benefits
    $41,293
    Filer's total
    $876,813

  • Tara McMahan

    SECRETARY/TREASURER (START 10/11/23)

    Total calculated
    $0
    Hours/week
    4

  • Michael Johnson

    CHIEF STRATEGY OFFICER

    Total calculated
    $965,711
    From this org
    $945,215
    From related orgs
    $0
    Other
    $20,496
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $457,988
    Bonus
    $450,510
    Other
    $36,717
    Deferred
    $19,800
    Nontaxable benefits
    $696
    Filer's total
    $965,711

  • Jeffrey Patterson

    CHIEF OPERATING OFFICER

    Total calculated
    $783,750
    From this org
    $727,109
    From related orgs
    $0
    Other
    $56,641
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,476
    Bonus
    $261,312
    Other
    $36,321
    Deferred
    $23,100
    Nontaxable benefits
    $33,541
    Filer's total
    $783,750

  • Chandra Clouden

    CHIEF HR OFFICER

    Total calculated
    $679,975
    From this org
    $641,818
    From related orgs
    $0
    Other
    $38,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,137
    Bonus
    $296,500
    Other
    $1,181
    Deferred
    $19,800
    Nontaxable benefits
    $18,357
    Filer's total
    $679,975

  • Allian Pratt

    CHIEF LEADERSHIP ENGAGEMENT OFFICER

    Total calculated
    $674,306
    From this org
    $614,440
    From related orgs
    $0
    Other
    $59,866
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,315
    Bonus
    $271,500
    Other
    $27,625
    Deferred
    $21,815
    Nontaxable benefits
    $38,051
    Filer's total
    $674,306

  • Steve Papaganeres

    MANAGING DIRECTOR, FINANCE

    Total calculated
    $493,586
    From this org
    $430,425
    From related orgs
    $0
    Other
    $63,161
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,175
    Bonus
    $206,481
    Other
    $769
    Deferred
    $23,100
    Nontaxable benefits
    $40,061
    Filer's total
    $493,586

  • Thomas Meehan

    CONTROLLER

    Total calculated
    $479,395
    From this org
    $416,004
    From related orgs
    $0
    Other
    $63,391
    Hours/week
    40 + 2.5 related

    Schedule J breakdown matched by us

    Base
    $248,161
    Bonus
    $166,550
    Other
    $1,293
    Deferred
    $26,400
    Nontaxable benefits
    $36,991
    Filer's total
    $479,395

  • Josh Heitsenrether

    SR. MANAGING DIRECTOR

    Total calculated
    $502,447
    From this org
    $442,356
    From related orgs
    $0
    Other
    $60,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,669
    Bonus
    $128,581
    Other
    $2,106
    Deferred
    $23,100
    Nontaxable benefits
    $36,991
    Filer's total
    $502,447

  • Keith Bloesch

    SR. MANAGING DIRECTOR

    Total calculated
    $480,785
    From this org
    $454,385
    From related orgs
    $0
    Other
    $26,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $320,912
    Bonus
    $132,416
    Other
    $1,057
    Deferred
    $26,400
    Nontaxable benefits
    $0
    Filer's total
    $480,785

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 · 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 4B
CERTAIN EXECUTIVES HAVE ARRANGEMENTS WHICH PROVIDE FOR SUPPLEMENTAL RETIREMENT BENEFITS AS DESCRIBED IN IRC SEC. 457(F). NO INDIVIDUALS RECEIVED A PAYMENT DURING CALENDAR YEAR 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

  • THE ASME FOUNDATION INC

    $2,467,295

    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

  • ASME FOUNDATION INDIA

    INDIA SECTION 8 COMP · ADVANCING FIELD OF ENGINEERING · IN · controlled entity

    Directly controlled by THE ASME FOUNDATION INC

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 $0 · assets $275,398

    Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

  • ASME STANDARDS TECHNOLOGY LLC

    CODE DEVELOPMENT · NY · income $141,130 · assets $557,776

    Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

  • ASME ASIA PACIFIC LLC

    TRAINING · CH · income $263,962 · assets $95,976

    Directly controlled by THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS

  • ASME ENGINEERING FOR CHANGE LLC

    TRAINING · NY · income $672,873 · assets $534,653

    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 HOLDINGS 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 $965,084 · share of assets $390,057 · 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
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202521329349304232

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