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← SPECIALTY EQUIPMENT MARKET ASSOCIATION

Form 990 for tax year 2023

Filed by SPECIALTY EQUIPMENT MARKET ASSOCIATION.

Totals

Total revenue
$51,625,053
Total expenses
$49,141,494
Contributions and grants received
$0
Grants paid
$1,595,893
Program service revenue
$48,257,659
Investment income
$2,890,707
Other revenue
$476,687
Total assets, end of year
$144,882,010
Total liabilities, end of year
$32,374,494
Net assets or fund balances, end of year
$112,507,516
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: CONVENTION & TRADE SHOW

    total $41,506,013 · excluded $41,506,013

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $3,719,061 · related or exempt $3,719,061

  • 2c · Program service revenue: MEMBERSHIP PROGRAMS

    total $1,878,685 · related or exempt $1,877,645 · unrelated business $1,040

  • 2d · Program service revenue: CONFERENCE REVENUE

    total $566,525 · related or exempt $566,525

  • 2e · Program service revenue: MEMBER RECEIPTS

    total $323,396 · related or exempt $323,396

  • 2f · All other program service revenue

    total $263,979 · related or exempt $263,979

  • 3 · Investment income

    total $2,427,481 · unrelated business -$75,875 · excluded $2,503,356

  • 6a · Gross rents

    real property $374,960

  • 6b · Less rental expenses

    real property $357,833

  • 6c · Rental income or loss

    real property $17,127

  • 6d · Net rental income or loss

    total $17,127 · excluded $17,127

  • 7a · Gross sales of assets other than inventory

    securities $16,847,278 · other assets $54,000

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

    securities $16,423,144 · other assets $14,908

  • 7c · Gain or loss

    securities $424,134 · other assets $39,092

  • 7d · Net gain or loss

    total $463,226 · excluded $463,226

  • 11a · Other revenue: MISC REVENUE

    total $459,560 · excluded $459,560

  • 11e · Other revenue, total

    $459,560

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,595,893

  • 5 · Compensation of officers, directors and key employees

    total $1,575,260

  • 7 · Other salaries and wages

    total $14,577,905

  • 9 · Other employee benefits

    total $49,196

  • 10 · Payroll taxes

    total $1,043,370

  • 11b · Fees: legal

    total $670,746

  • 11c · Fees: accounting

    total $195,274

  • 11d · Fees: lobbying

    total $497,740

  • 11f · Fees: investment management

    total $820,504

  • 11g · Fees: other

    total $6,226,948

  • 12 · Advertising and promotion

    total $2,907,863

  • 13 · Office expenses

    total $1,050,995

  • 14 · Information technology

    total $1,479,697

  • 16 · Occupancy

    total $1,035,817

  • 17 · Travel

    total $1,241,342

  • 19 · Conferences, conventions and meetings

    total $10,441,804

  • 22 · Depreciation, depletion and amortization

    total $1,524,952

  • 23 · Insurance

    total $2,206,188

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,626,587 · end of year $5,820,914

  • 2 · Savings and temporary cash investments

    beginning of year $13,593,456 · end of year $8,422,103

  • 4 · Accounts receivable

    beginning of year $422,785 · end of year $921,315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,169,715 · end of year $2,084,638

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

    $34,471,877

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

    $12,603,109

  • 10c · Land, buildings and equipment, net

    beginning of year $22,918,587 · end of year $21,868,768

  • 11 · Investments: publicly traded securities

    beginning of year $56,584,525 · end of year $56,597,284

  • 12 · Investments: other securities

    beginning of year $28,434,780 · end of year $32,116,588

  • 13 · Investments: program-related

    beginning of year $1,000 · end of year $1,000

  • 14 · Intangible assets

    beginning of year $6,374,274 · end of year $6,294,274

  • 15 · Other assets

    beginning of year $2,347,626 · end of year $10,755,126

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,194,838 · end of year $5,800,754

  • 19 · Deferred revenue

    beginning of year $24,884,320 · end of year $26,542,120

  • 25 · Other liabilities

    beginning of year $30,500 · end of year $31,620

  • 27 · Net assets without donor restrictions

    beginning of year $105,363,677 · end of year $112,507,516

Mission and programs · 2023

Mission

SEMA'S MISSION IS TO HELP OUR MEMBERS' BUSINESSES SUCCEED AND PROSPER. OUR MEMBERS ARE THE PRODUCERS AND MARKETERS OF SPECIALTY EQUIPMENT PRODUCTS AND SERVICES FOR THE AUTOMOTIVE AFTERMARKET. WE WILL DO THIS BY: A. PROACTIVE LEADERSHIP IN OUR INDUSTRY TO HELP IT EXPAND DOMESTICALLY AND WORLDWIDE. B. DELIVERING PROGRAMS, ACTIVITIES AND INFORMATION IN RESPONSE TO THE ONGOING AND EMERGING NEEDS OF OUR MEMBERS. C. EMPHASIZING EDUCATION TO HELP MEMBERS FOCUS ON AND ACHIEVE ACCEPTABLE WORLD-CLASS QUALITY STANDARDS. D. LEGISLATIVE AND REGULATORY ADVOCACY. E. PRODUCING THE INDUSTRY'S LEADING TRADE SHOW.

Activities or mission (Part I)

TO PROVIDE MEMBERS WITH A FORUM TO BUY, SELL, AND MARKET PRODUCTS AND SERVICES WHICH DRIVES THE SPECIALTY AUTOMOTIVE AFTERMARKET INDUSTRY.

  • SEE SCHEDULE O

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

Listed in Part VII

  • Kyle Fickler Chair Elect Thru

    07/23), CHAIRMAN (AS OF 07/23)

    Total calculated
    $0
    Hours/week
    3 + 7 related

  • Melanie White Board Mem Thru

    07/23), CHAIR ELECT (AS OF 07/23)

    Total calculated
    $0
    Hours/week
    3 + 7 related

  • Tim McCarthy

    TREASURER

    Total calculated
    $0
    Hours/week
    3 + 7 related

  • James Lawrence Chair Thru 07

    23),IM PAST CHAIR/SEC(AS OF 07/23)

    Total calculated
    $0
    Hours/week
    3 + 7 related

  • Tim Martin Immediate Past

    CHAIR & SECRETARY (THRU 07/23)

    Total calculated
    $0
    Hours/week
    3 + 7 related

  • Kathryn Reinhardt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Larry Montante

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Kim Pendergast

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Brian Reese

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Ted Wentz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Lindsey Hubley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Steve Whipple

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Rich Butler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Norris Marshall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Marcus Umlauff

    BOARD MEMBER (AS OF 7/23)

    Total calculated
    $0
    Hours/week
    3

  • Mike Spagnola

    PRESIDENT AND CEO

    Total calculated
    $674,791
    From this org
    $643,791
    From related orgs
    $0
    Other
    $31,000
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $440,348
    Bonus
    $167,531
    Other
    $35,912
    Deferred
    $30,000
    Nontaxable benefits
    $1,000
    Filer's total
    $674,791

  • George Afremow

    VP AND CFO (THRU 05/24)

    Total calculated
    $388,963
    From this org
    $357,923
    From related orgs
    $0
    Other
    $31,040
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $296,605
    Bonus
    $28,490
    Other
    $32,828
    Deferred
    $30,000
    Nontaxable benefits
    $1,040
    Filer's total
    $388,963

  • Ryan Stutzman

    CFO (AS OF 05/24)

    Total calculated
    $0
    Hours/week
    40 + 3 related

  • William Miller

    SENIOR VP, OPERATIONS (THRU 07/23)

    Total calculated
    $649,355
    From this org
    $618,009
    From related orgs
    $0
    Other
    $31,346
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $505,818
    Bonus
    $107,932
    Other
    $4,259
    Deferred
    $30,000
    Nontaxable benefits
    $1,346
    Filer's total
    $649,355

  • Tom Gattuso

    VICE PRESIDENT, EVENTS

    Total calculated
    $347,061
    From this org
    $317,061
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $273,416
    Bonus
    $35,100
    Other
    $8,545
    Deferred
    $30,000
    Nontaxable benefits
    $0
    Filer's total
    $347,061

  • Jim Liaw

    GENERAL MANAGER, PRI

    Total calculated
    $260,367
    From this org
    $243,764
    From related orgs
    $0
    Other
    $16,603
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $211,842
    Bonus
    $31,634
    Other
    $288
    Deferred
    $13,553
    Nontaxable benefits
    $3,050
    Filer's total
    $260,367

  • Zane Clark Vice President

    COUNCILS & MEMBERSHIP

    Total calculated
    $327,400
    From this org
    $304,900
    From related orgs
    $0
    Other
    $22,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,759
    Bonus
    $18,900
    Other
    $7,241
    Deferred
    $22,500
    Nontaxable benefits
    $0
    Filer's total
    $327,400

  • Rj De Vera

    VICE PRESIDENT, MARKETING

    Total calculated
    $356,002
    From this org
    $333,759
    From related orgs
    $0
    Other
    $22,243
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $288,412
    Bonus
    $38,084
    Other
    $7,263
    Deferred
    $22,243
    Nontaxable benefits
    $0
    Filer's total
    $356,002

  • Warren Kosikov

    VICE PRESIDENT, SALES

    Total calculated
    $314,960
    From this org
    $284,960
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,202
    Bonus
    $32,400
    Other
    $8,358
    Deferred
    $30,000
    Nontaxable benefits
    $0
    Filer's total
    $314,960

  • Darin D Mraz

    SR. DIRECTOR IT

    Total calculated
    $261,017
    From this org
    $240,017
    From related orgs
    $0
    Other
    $21,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,380
    Bonus
    $27,664
    Other
    $1,973
    Deferred
    $20,500
    Nontaxable benefits
    $500
    Filer's total
    $261,017

  • Karen Bailey-Chapman

    VP, GOV'T & LEGAL AFFAIRS

    Total calculated
    $449,190
    From this org
    $426,340
    From related orgs
    $0
    Other
    $22,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $384,059
    Bonus
    $34,752
    Other
    $7,529
    Deferred
    $19,800
    Nontaxable benefits
    $3,050
    Filer's total
    $449,190

  • Christopher J Kersting

    FORMER CEO & PRESIDENT

    Total calculated
    $468,750
    From this org
    $468,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $468,750
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $468,750

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS - WHEN ACCOMPANIED BY HIS SPOUSE THE PRESIDENT/CEO WILL BE REIMBURSED FOR REASONABLE AND NECESSARY BUSINESS EXPENSES INCURRED.
PART I, LINE 4A:
CHRISTOPHER KERSTING RETIRED AND RECEIVED THE THIRD INSTALLMENT OF THE SEPARATION SETTLEMENT DURING THE YEAR. DETAILS OF THE SETTLEMENT ARE CONFIDENTIAL, BUT ARE AVAILABLE UPON REQUEST.

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

  • SPECIALTY EQUIPMENT WARRANTY ALLIANCE

    $1,026,906

    GENERAL SUPPORT

  • SEMA MEMORIAL SCHOLARSHIP FUND

    $366,687

    TO SEMA MEMORIAL SCHOLARSHIP FUND

  • HOT RODDERS OF TOMORROW FOUNDATION

    $95,000

    CONTRIBUTION TO PROVIDE FINANCIAL SUPPORT FOR THE ENGINE CHALLENGE COMPETITIONS THAT PROMOTE YOUTH ENGAGEMENT THROUGHOUT THE YEAR AND HOST THE SERIES OF DUAL CHAMPIONSHIP EVENTS DURING THE SEMA SHOW IN LAS VEGAS, NEVADA AND THE PRI SHOW IN INDIANAPOLIS, INDIANA.

  • SEMA CAL PAC

    $35,000

    GENERAL SUPPORT

  • AUTOMOVITE AFTERMARKET CHARITABLE FOUNDATION

    $33,000

    PROVIDES RESOURCES FOR INDIVIDUALS AND THEIR FAMILIES WHO HAVE WORKED IN THE AFTERMARKET AND HAVE COME ON DIFFICULT TIMES FINANCIALLY.

  • OFF-ROAD BUSINESS ASSOCIATION

    $30,000

    ADVOCACY ASSOCIATION FORMED TO PROTECT AND PRESERVE ACCESS TO PUBLIC LANDS FOR OFF-ROAD RECREATION.

  • CHILDHELP DC

    $7,000

    GENERAL SUPPORT

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.

  • SEMA MEMORIAL SCHOLARSHIP FUND

    501(C)(3) · SCHOLARSHIPS · DC · controlled entity

    Directly controlled by SEMA

  • SPECIALTY EQUIPMENT WARRANTY ALLIANCE

    501(C)(6) · TRADE ASSOCIATION · CA · controlled entity

    Directly controlled by SEMA

  • SEMA FEST INC

    501(C)(4) · SOCIAL WELFARE ORGANIZATION · IN · controlled entity

    Directly controlled by SEMA

  • DRIVING FORCE FUND

    501(C)(4) · SOCIAL WELFARE ORGANIZATION · VA · controlled entity

    Directly controlled by SEMA

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.

  • SEMA GARAGE DETROIT LLC

    TO PROVIDE MANUFACTURERS WITH ACCESS TO ADVANCED PRODUCT DEVELOPMENT TOOLS · MI · income $0 · assets $2,138,759

    Directly controlled by SEMA

  • SEMA GARAGE DIAMOND BAR LLC

    TO PROVIDE MANUFACTURERS WITH ACCESS TO ADVANCED PRODUCT DEVELOPMENT TOOLS · CA · income $1,288,260 · assets $1,293,592

    Directly controlled by SEMA

  • SEMA CERTIFIED EMISSIONS LLC

    EMISSIONS TESTING · CA · income $209,750 · assets $3,989,095

    Directly controlled by SEMA

Related corporations and trusts

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

  • PERFORMANCE AFTERMARKET PUBLICATION INC

    C · PUBLISHING · CA · 100% owned · share of income $2,803,908 · share of assets $275,989 · controlled entity

    Directly controlled by SEMA

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202520489349300492

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