2021-05-14T13:43:38-05:00 2020-06-30 861065772 DELOITTE TAX LLP 2 JERICHO PLAZA JERICHO NY 11753 990 2019-07-01 133372934 THE ASME FOUNDATION INC ASME 2125917000 TWO PARK AVENUE NEW YORK NY 100165675 THOMAS MEEHAN TREASURER 2125917000 2021-05-13 1 CHRISTINE KAWECKI P00743140 5169187000 2021-05-10 2019 2022-09-23 18:48:47Z KATHLEEN LOBB TWO PARK AVENUE NEW YORK NY 100165675 1897480 0 X WWW.ASMEFOUNDATION.ORG X 1986 NY THE ASME FOUNDATION, INC. FUNDS AND DEVELOPS PROGRAMS THAT SUPPORT, CREATE, AND ADVANCE THE FIELD OF ENGINEERING. 5 4 0 75 0 0 2449582 1164107 0 0 595339 733373 0 0 3044921 1897480 840071 671081 0 0 678996 620150 95000 0 0 1040600 304771 2654667 1596002 390254 301478 26225168 26496154 369144 851469 25856024 25644685 THE ASME FOUNDATION, INC. THROUGH GENEROUS SUPPORT OF THE ENGINEERING COMMUNITY, FUNDS PROGRAMS IN K-12 STEM EDUCATION, STUDENT AND EARLY CAREER DEVELOPMENT, ENGINEERING FOR GLOBAL DEVELOPMENT, AND PUBLIC POLICY. 0 0 1038443 671081 SCHOLARSHIPS: THE ASME FOUNDATION, INC. AWARDS SCHOLARSHIPS TO THE BRIGHTEST, AND MOST TALENTED, MECHANICAL ENGINEERING STUDENTS WHO HAVE DEMONSTRATED FINANCIAL NEED, AND ARE ACTIVE IN ASME. IN FISCAL YEAR 2020 WE AWARDED OVER $397,750 TO 49 DESERVING STUDENTS. WE ARE COMMITTED TO CONTINUE OUR SUPPORT OF THE EDUCATION OF FUTURE ENGINEERING LEADERS. ADDITIONALLY, THE ASME FOUNDATION, INC. SUPPORTED 5 GRADUATE TEACHING FELLOWS, AS WELL AS FEDERAL FELLOWS WHO SERVED IN EXECUTIVE AND LEGISLATIVE BRANCHES OF THE FEDERAL GOVERNMENT. 121000 THE ASME FOUNDATION, INC. FUNDS PROGRAMS IN K-12 SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM); UNIVERSITY STUDENT & EARLY CAREER DEVELOPMENT; INCLUDING AN EDUCATIONAL PROGRAM CALLED INSPIRE. INSPIRE IS A UNIQUE DIGITAL COURSE THAT USES ON-LINE GAMING AND SIMULATIONS TO TEACH CRITICAL TECHNOLOGY AND CODING SKILLS, IGNITE INTEREST IN STEM, AND EXPOSE STUDENTS TO STEM OPPORTUNITIES THAT THEY MIGHT NEVER HAVE DREAMED WERE WITHIN THEIR REACH. IN ITS SIXTH YEAR, THE ASME INSPIRE PROGRAMS WERE OFFERED TO OVER 100,000 STUDENTS IN OVER 1,300 SCHOOLS IN ALL 50 STATES. 73859 GLOBAL DEVELOPMENT & HUMANITARIAN ENGINEERING; AND NONPARTISAN TECHNICALLY SOUND PUBLIC POLICY. 1233302 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 13 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X THOMAS MEEHAN 9732442255 150 CLOVE ROAD 6TH FLOOR LITTLE FALLS NJ 07424 FRANK ADAMEK CHAIR 2.00 0.00 X 0 0 0 KENNETH R BALKEY DIRECTOR 2.00 0.00 X 0 0 0 RUDOLF LANDWAARD DIRECTOR 2.00 0.00 X 0 0 0 ROBERT SIMMONS DIRECTOR 2.00 0.00 X 0 0 0 THOMAS COSTABILE DIRECTOR- EX-OFFICIO 2.50 40.00 X 0 859633 85170 THOMAS MEEHAN TREASURY 2.50 38.00 X 0 265390 30939 KATHLEEN LOBB EXECUTIVE DIRECTOR 2.50 38.00 X 0 285417 26021 GRETCHEN CRUTCHFIELD SECRETARY 2.50 38.00 X 0 89618 7977 0 1500058 150107 0 0 1 0 0 1164107 1164107 615676 615676 117697 0 117697 117697 117697 1897480 0 0 733373 671081 671081 620150 447000 173150 48500 48500 28000 28000 46176 46176 2470 1085 1385 18618 2500 16118 29796 28504 1292 10419 1385 9034 31500 31500 CERTIFICATES, PLAQUES & 65465 65465 TRAINING 13245 13245 FEES 6760 588 6172 BAD DEBT 2449 2449 1373 1373 1596002 1233302 362700 0 836945 1261580 33473 60566 68000 2259 515120 152231 258899 222675 24468260 24783872 44471 12971 26225168 26496154 36546 53186 332598 798283 369144 851469 X 20404739 20103400 5451285 5541285 25856024 25644685 26225168 26496154 X 301478 -397199 -115618 X 0 1 X 1 0 X X X 1 THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS 131623899 10 1 798813 0 1 798813 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE A, PART IV, SECTION B, LINE 1: THE ASME FOUNDATION, INC. IS MANAGED BY THE SAME PERSONS THAT MANAGE ASME. ASME'S EXECUTIVE DIRECTOR IS A MEMBER OF THE ASME FOUNDATION, INC.'S BOARD. THE THREE OFFICERS OF THE ASME FOUNDATION, INC. ARE EMPLOYEES OF ASME, AND THEY SERVE AS THE ASME FOUNDATION, INC. OFFICERS AS A DIRECT RESULT OF THEIR OFFICER OR EMPLOYEE RELATIONSHIP WITH ASME, SUBJECT TO CONTINUED EMPLOYMENT BY ASME. ACCORDINGLY, ASME EFFECTIVELY MANAGES THE ASME FOUNDATION, INC. ALSO NOTABLE, AT LEAST HALF OF THE MEMBERS OF THE ASME FOUNDATION, INC.'S BOARD ARE REQUIRED TO HAVE SERVED ASME IN THE PAST AS A DIRECTOR, OR OFFICER CAPACITY. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19055252 103550 482800 361383 937929 18342290 18430333 315560 753944 130222 314363 19055252 16444055 1346099 1104742 231376 233187 18430333 14969576 235581 1441863 202965 16444055 15871920 142400 -151917 892827 14969576 0.32350 0.30210 0.37440 0 0 0 ANNUITIES PAYABLE 798283 798283 X 2278005 -397199 823900 426701 1851304 46176 46176 1897480 1549826 0 1549826 46176 46176 1596002 PART V, LINE 4: THE ASME FOUNDATION, INC. USES ENDOWNMENT FUNDS FOR SCHOLARSHIPS, ENGINEERING AWARDS AND FELLOWSHIPS. THE ASME FOUNDATION, INC. ALSO USES ENDOWNMENT FUNDS FOR INITIATIVES THAT ENCOURAGE MATH, SCIENCE AND ENGINEERING LITERACY, HOST ENGINEERING DESIGN COMPETITIONS FOR COLLEGE STUDENTS, AND FUND PROGRAMS THAT ENCOURAGE THE DEVELOPMENT OF SOUND PUBLIC POLICY. PART X, LINE 2: THERE ARE CERTAIN TRANSACTIONS THAT COULD BE DEEMED UNRELATED BUSINESS INCOME AND WOULD RESULT IN A TAX LIABILITY. MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES USING A THRESHOLD OF MORE LIKELY THAN NOT. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL INCOME TAX LIABILITIES THAT NEED TO BE RECORDED AT JUNE 30, 2020. 1 0 0 SCHOLARSHIPS 49 397750 FELLOWSHIPS 6 273331 PART I, LINE 2: THERE ARE MANY DIFFERENT METHODS THAT THE ASME FOUNDATION, INC. UTILIZES TO MONITOR THE EFFECTIVE USE OF GRANT FUNDS. THERE IS A COMMITTEE OF VOLUNTEERS THAT PROVIDES OVERSIGHT IN EACH SECTOR WHERE A GRANT HAS BEEN AWARDED. THESE COMMITTEES HAVE STAFF AND VOLUNTEER EXPERTS IN THE FIELD WHERE THE GRANT FUNDS ARE BEING USED. WITH RESPECT TO THE FEDERAL FELLOW GRANTS, MEETINGS ARE HELD MONTHLY WHEN ASME STAFF TO MONITOR THE PROGRESS OF THE PROGRAM. THE ASME FOUNDATION, INC. BOARD OF DIRECTORS ALSO RECEIVE REPORTS FROM ASME LEADERSHIP ON EFFECTIVENESS OF PROGRAMS THAT ARE SUPPORTED BY ASME FOUNDATION GRANTS. SCHOLARSHIPS ARE AWARDED TO STUDENTS ONCE THEY MEET CERTAIN CRITERIA. THE FUNDS ARE GIVEN DIRECTLY TO THE SCHOOLS THAT THE STUDENT ATTENDS. FEDERAL FELLOWSHIPS ARE AWARDED TO SELECTED ASME MEMBERS ALLOWING THEM TO DEVOTE A YEAR TO WORKING IN GOVERNMENT, PROVIDING ENGINEERING AND TECHNICAL ADVICE TO POLICY MAKERS. GRADUATE TEACHING FELLOWS ARE DOCTORAL CANDIDATES AWARDED FUNDING AND ARE ENCOURAGED TO PURSUE A CAREER IN ENGINEERING EDUCATION. THE RESPECTIVE SCHOOLS MONITOR THE STUDENT ACCOUNTS TO ENSURE APPROPRIATE USAGE OF THE FUNDS. 0 1 0 0 0 0 0 0 0 THOMAS COSTABILE DIRECTOR- EX-OFFICIO 0 549631 0 275000 0 35002 0 50276 0 34894 0 944803 0 0 THOMAS MEEHAN TREASURY 0 229684 0 34953 0 753 0 16455 0 15234 0 297079 0 0 KATHLEEN LOBB EXECUTIVE DIRECTOR 0 226169 0 26500 0 32748 0 11444 0 15327 0 312188 0 0 PART I, LINE 3 THE ASME FOUNDATION, INC. DOES NOT PAY COMPENSATION. ALL COMPENSATION IS PAID BY THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS, A RELATED COMPENSATION COMMITTEE, INDEPENDENT CONSULTANT, COMPENSATION SURVEY OR COMPENSATION COMMITTEE IN ORDER TO ESTABLISH THE COMPENSATION OF ITS ORGANIZATION. THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS USES A STUDY, FORM 990 OF OTHER ORGANIZATIONS, AND AN APPROVAL BY THE BOARD OR CEO/EXECUTIVE DIRECTOR. PART I, LINE 4B THE FOLLOWING INDIVIDUAL PARTICIPATED IN A SUPPLIMENTAL NONQUALIFIED RETIREMENT PLAN DURING 2019 AND THE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C) THOMAS COSTABILE, $33,476 FORM 990, PART V, LINE 2A: THE FOUNDATION HAS NO EMPLOYEES. ALL INDIVIDUALS PROVIDING SERVICES TO THE FOUNDATION ARE EMPLOYED AND PAID BY THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS ("ASME"). ALL FORMS W-2 ARE ISSUED BY ASME. THE PORTION OF THEIR SALARIES ALLOCATED TO TIME WORKED FOR THE FOUNDATION HAS BEEN PROPERLY REPORTED AS FOUNDATION SALARY EXPENSE. FORM 990, PART VI, SECTION B, LINE 11B AN INDEPENDENT ACCOUNTING FIRM PREPARES THE IRS FORM 990 AND PROVIDES AN ELECTRONIC COPY TO THE ASME FOUNDATION INC.'S TREASURER. THE TREASURER REVIEWS THE 990 AND UPON COMPLETION CIRCULATES TO THE CHAIR AND THE EXECUTIVE DIRECTOR. THIS OCCURS PRIOR TO THE DATE REQUIRED FOR SUBMISSION TO THE IRS. THE FINAL DRAFT THAT WILL BE SUBMITTED TO THE IRS IS THEN DISTRIBUTED TO THE FULL ASME FOUNDATION INC. BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990 IS FILED WITH THE IRS ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C THE ASME FOUNDATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY WHICH APPLIES TO BOARD MEMBERS, OFFICERS AND COMMITTEE MEMBERS OF THE ASME FOUNDATION, INC. ON AN ANNUAL BASIS, INDIVIDUALS COVERED UNDER THE CONFLICTS OF INTEREST POLICY ARE REQUIRED TO COMPLETE AND SIGN A STATEMENT THAT HE OR SHE IS IN COMPLIANCE WITH THE POLICY. IF A CONFLICT IS IDENTIFIED, THE INDIVIDUAL WITH SUCH CONFLICT IS PROHIBITED FROM PARTICIPATION IN THE DELIBERATIONS AND DECISIONS IN THE TRANSACTION. THE AUDIT COMMITTEE OVERSEES THE IMPLEMENTATION OF AND COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS THE FOUNDATIGN USES THE ASME.ORG WEBSITE TO MAKE AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS INCLUDING THE BY LAWS AND POLICIES AS WELL AS ITS ANNUAL REPORT WITH THE FINANCIAL STATEMENTS. PRINTED COPIES OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET ASSET TRANSFERRED FROM ASME 25,087. PRESNET VALUE ADJUSTMENT TO ANNUITIES PAYABLE -140,705. THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS TWO PARK AVENUE NEW YORK NY 10016 131623899 ENGINEERING ASSOCIATION NY 501(C)(3) 10 N/A 0 ASME AUXILIARY TWO PARK AVENUE NEW YORK NY 10016 136128507 EDUCATION LOANS NY 501(C)(3) 10 N/A 0 FBO JOHN A SWANSON 2006 ASME CHARITABLE REMAINDER TRUST TWO PARK AVENUE NEW YORK NY 10016 137493865 TRUST NJ N/A T 3169 396598 1.00000 0 ASME INDIA PRIVATE LIMITED 573 1ST FLOOR MAIN ROAD CHIRAGE DEHLI IN MARKETING IN THE AMERICAN SOCIETY OF MECHANICAL C 296390 260301 1.00000 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 0