2018-05-14T11:32:29-05:00 2017-06-30 KPMG LLP 345 PARK AVENUE NEW YORK NY 10154 990 2016-07-01 133372934 THE ASME FOUNDATION INC % THOMAS MEEHAN ASME 2125917000 TWO PARK AVENUE NEW YORK NY 100165990 THOMAS MEEHAN TREASURER 2125917000 2018-05-14 true MARY-EVELYN ANTONETTI P00431862 2127589700 2018-05-14 2016 2022-09-23 18:48:47Z PAUL SCOTT TWO PARK AVENUE NEW YORK NY 100165990 6764251 false X WWW.ASME.ORG/ABOUT-ASME/VOLUNTEER-RESOURCES X 1986 NY THE ASME FOUNDATION, INC. FUNDS AND DEVELOPS PROGRAMS THAT SUPPORT, CREATE, AND ADVANCE THE FIELD OF ENGINEERING. 11 10 0 75 0 0 1410745 1490317 0 0 720512 718946 0 0 2131257 2209263 846077 855627 0 0 0 221836 303840 224546 309272 1596388 1233079 2746305 2535088 -615048 -325825 21045866 21820700 1034110 774680 20011756 21046020 X ASME FOUNDATION, THROUGH THE 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. false false 667627 667627 SCHOLARSHIPS: ASME FOUNDATION AWARDS SCHOLARSHIPS TO THE BRIGHTEST, AND MOST TALENTED, MECHANICAL ENGINEERING STUDENTS WHO HAVE A DEMONSTRATED FINANCIAL NEED, AND ARE ACTIVE IN ASME. IN FISCAL YEAR 2017 WE AWARDED OVER $667,627 TO OVER 76 DESERVING STUDENTS. WE ARE COMMITTED TO CONTINUE OUR SUPPORT OF THE EDUCATION OF FUTURE ENGINEERING LEADERS. ADDITIONALLY, THE FOUNDATION SUPPORTED 3 FEDERAL FELLOWS WHO SERVED IN EXECUTIVE AND LEGISLATIVE BRANCHES OF THE FEDERAL GOVERNMENT. 500000 EDUCATION PROGRAMS: THE ASME FOUNDATION CONTRIBUTED $500,000 TO HELP SUPPORT A SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) EDUCATION PROGRAM CALLED INSPIRE. INSPIRE IS A UNIQUE DIGITAL COURSE THAT USES ONLINE 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 THIRD YEAR, INSPIRE HAS BEEN ENGAGED IN MORE THAN 1,000 MIDDLE AND HIGH SCHOOLS, REACHING MORE THAN 48,000 STUDENTS ACROSS 47 STATES. 250000 188000 ACHIEVEMENTS IN MECHANICAL ENGINEERING: PARTNERING WITH NASA, THE ASME FOUNDATION IS INVOLVED IN A PROGRAM THAT WILL GIVE K-12 STUDENTS THE CHANCE TO DESIGN ITEMS THAT COULD ULTIMATELY BE MANUFACTURED ON THE INTERNATIONAL SPACE STATION. THROUGH THE PROGRAM, FUTURE ENGINEERS, THE SPACE AGENCY AND THE FOUNDATION WILL DEVELOP A SERIES OF 3D DESIGN CHALLENGES AND CURRICULA INTENDED TO INSPIRE STUDENTS TO SOLVE REAL-WORLD EXPLORATION CHALLENGES. 592700 2010327 true true false false false false false false false true false false false false true true true false false false false false false true false false false true true true false false false false true false false false false false false false false true false false false true 0 0 false 0 false false false false false false false false false false X 11 10 false false false false false false false true true false false true true true true true false false false false AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X THOMAS MEEHAN 9732442255 150 CLOVE ROAD LITTLE FALLS NJ 07424 X FRANK ADAMEK DIRECTOR 1.5 0.0 X 0 0 0 HARRY ARMEN DIRECTOR 1.5 0.0 X 0 0 0 KENNETH R BALKEY DIRECTOR 1.5 0.0 X 0 0 0 K KEITH ROE DIR., EX-OFFICIO AS OF 7/1/16 1.0 4.0 X 0 0 0 JENNIFER JEWERS BOWLIN DIRECTOR 1.5 0.0 X 0 0 0 LYNDEN F DAVIS PE VICE CHAIRMAN 1.5 0.0 X X 0 0 0 RUDOLF LANDWAARD DIRECTOR 1.5 0.0 X 0 0 0 THOMAS G LOUGHLIN DIRECTOR, EX-OFFICIO 2.5 40.0 X 0 690052 201142 LORETTA C MCHUGH DIRECTOR 1.5 0.0 X 0 0 0 TOM PESTORIUS CHAIRMAN 5.0 0.0 X X 0 0 0 SUSAN H SKEMP DIRECTOR 1.5 0.0 X 0 0 0 DEANNA BELL TRUSTEE THRU 09/2016 1.5 0.0 X 0 0 0 GRETCHEN CRUTCHFIELD SECRETARY 1.0 40.0 X 0 81906 31549 WILLIAM GAROFALO ASSISTANT TREASURER 2.5 40.0 X 0 384658 15126 THOMAS MEEHAN TREASURER 1.0 40.0 X 0 215489 22250 NOHA EL-GHOBASHY MANAGING DIRECTOR 1.0 40.0 X 0 333014 62002 PAUL SCOTT EXECUTIVE DIRECTOR BEG 02/2017 1.0 40.0 X 0 158907 19773 0 1864026 351842 0 false true false EVERFI PO BOX 200034 PITTSBURGH PA 152510034 INSPIRE PRGM ASSIST. 500000 IPM ADVANCEMENT LLC 2340 EAST BEARDSLEY ROAD SUITE 100 PHOENIX AZ 85024 FUNDRAISING 120899 DCM 330 WEST 38TH ST SUITE 207 NEW YORK NY 10018 FUNDRAISING 103647 3 538250 952067 1490317 0 455130 455130 0 0 0 0 0 4818804 4554988 263816 263816 263816 0 0 0 0 0 0 0 0 0 0 2209263 718946 188000 188000 667627 667627 0 0 0 0 221836 221836 0 0 0 849813 775063 74750 48651 48651 14000 14000 0 224546 224546 20894 20894 0 2211 199 362 1650 95607 5103 7878 82626 0 0 30756 3729 27027 59587 29516 30071 0 385 75 310 0 0 0 0 CERT., PLAQUES & MEDALS 96732 95538 1194 OTHER 11174 2747 7977 450 BAD DEBT ALLOWANCE 3269 3269 2535088 2010327 215489 309272 1154278 571367 31520 14799 80155 29940 0 0 0 0 0 0 238464 154333 217300 261219 0 28750 0 0 19324149 20712292 0 0 0 0 0 48000 0 0 21045866 21820700 189189 23349 0 0 0 0 0 0 0 0 0 0 0 0 0 0 844921 751331 1034110 774680 X 4988967 4794418 9965614 11045427 5057175 5206175 20011756 21046020 21045866 21820700 X -325825 1403647 -43558 X false true X true false X X 1 THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS 131623899 9 true 188000 0 1 188000 true false false false false false false false false false false false false false false false false SCHEDULE A, PART IV, SECTION C, LINE 1 MANAGEMENT OF THE ASME FOUNDATION IS VESTED IN THE SAME PERSONS THAT MANAGE ASME. ASME'S EXECUTIVE DIRECTOR IS A MEMBER OF THE ASME FOUNDATION'S BOARD. THE FOUR OFFICERS OF THE ASME FOUNDATION ARE EMPLOYEES OF ASME AND THEY SERVE AS THE ASME FOUNDATION 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. ALSO NOTABLE, AT LEAST HALF OF THE MEMBERS OF THE ASME FOUNDATION'S BOARD ARE REQUIRED TO HAVE SERVED ASME IN THE PAST IN A DIRECTOR, OR OFFICER CAPACITY. AS A RESULT OF THESE RELATIONSHIPS, THE ASME FOUNDATION IS RESPONSIVE TO THE NEEDS OF ASME. MOREOVER, 36% OF THE ASME FOUNDATION'S CONTRIBUTIONS, AND ABOUT 24% OF ITS TOTAL REVENUE, WAS CONTRIBUTED BY ASME. PROGRAMMATICALLY, OVER 18% OF THE ASME FOUNDATION'S DIRECT GRANT DOLLARS WERE PAID AS SCHOLARSHIPS FOR ACTIVE STUDENT MEMBERS OF ASME. THESE FACTS CLEARLY DEMONSTRATE THE ASME FOUNDATION'S SIGNIFICANT INVOLVEMENT IN ASME AND ITS LONG TERM INVESTMENT IN ASME'S SUCCESS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14969576 235581 1441863 202965 16444055 15871920 142400 -151917 892827 14969576 16426260 374317 -310352 618305 15871920 15119511 35280 2493094 941416 280209 16426260 18686630 260576 1701179 1029376 19619009 0.27640 0.31660 0.40700 false false 0 DUE TO ASME 279289 ANNUITIES PAYABLE 472042 751331 X 3548458 1403647 1403647 2144811 20894 43558 64452 2209263 2514194 2514194 20894 20894 2535088 PART V, LINE 4 THE ASME FOUNDATION USES ENDOWMENT FUNDS FOR SCHOLARSHIPS, ENGINEERING AWARDS AND STUDENT FELLOWSHIPS. THE ASME FOUNDATION ALSO USES ENDOWMENT 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 Uncertain Tax Positions 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 managements estimation that there are no material income tax liabilities that need to be recorded at June 30, 2017. PART XI, LINE 4D PRESENT VALUE ADJUSTMENT TO ANNUITIES PAYABLE $43,558. X X X true DCM 330 WEST 38TH STREET SUITE 207 NEW YORK NY 10018 FUNDRAISING false 107062 103647 3415 IPM ADVANCEMENT LLC 2340 EAST BEARDSLEY ROAD SUITE 100 PHOENIX AZ 85024 FUNDRAISING false 74026 120899 -46873 181088 224546 -43458 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI SCHEDULE G PART I LINE 2B LIST OF TEN HIGHEST PAID FUNDRAISERS (I) NAME OF FUNDRAISER : DCM (I) ADDRESS OF FUNDRAISER : 330 WEST 38TH STREET, STE 207, NEW YORK, NY 10018 (II) NAME OF FUNDRAISER : IPM ADVANCEMENT LLC (II) ADDRESS OF FUNDRAISER : 2340 EAST BEARDSLEY ROAD, STE 100, PHOENIX, AZ 85024 true AMERICAN SOCIETY OF MECHANCIAL ENGINEERS TWO PARK AVENUE NEW YORK NY 10016 131623899 501(C)(3) 188000 FMV N/A INSPIRE PROGRAM 1 0 SCHOLARSHIPS 76 359567 FMV N/A FELLOWSHIPS 3 308060 FMV N/A SCHEDULE I, PART I, LINE 2: THE ASME FOUNDATION AWARDS GRANTS TO THE PARENT ORGANIZATION, ASME. THERE ARE MANY DIFFERENT METHODS THAT THE ASME FOUNDATION 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 WITH ASME STAFF TO MONITOR THE PROGRESS OF THE PROGRAM. THE ASME FOUNDATION BOARD OF DIRECTORS ALSO RECEIVE REPORTS FROM ASME LEADERSHIP ON THE EFFECTIVENESS OF PROGRAMS THAT ARE SUPPORTED BY ASME FOUNDATION GRANTS. THE SCHOLARSHIPS ARE AWARDED TO STUDENTS ONCE THEY MEET CERTAIN CRITERIA. THEY ARE GIVEN EITHER DIRECTLY TO THE STUDENT OR THE SCHOOL HE OR SHE ATTENDS. ONCE THE SCHOLARSHIP IS AWARDED, THERE ARE NO PROCEDURES TO MONITOR THE USE OF THE GRANTS. false true false false false false false false false THOMAS G LOUGHLIN DIRECTOR, EX-OFFICIO 496289 156900 36863 167320 33822 891194 WILLIAM GAROFALO ASSISTANT TREASURER 295222 70200 19236 13250 1876 399784 THOMAS MEEHAN TREASURER 0 186619 0 28470 0 400 0 9570 0 12680 0 237739 NOHA EL-GHOBASHY MANAGING DIRECTOR 0 271417 0 56250 0 5347 0 50151 0 11851 0 395016 PAUL SCOTT EXECUTIVE DIRECTOR BEG 02/2017 0 152121 0 6500 0 286 0 4868 0 14905 0 178680 SCHEDULE J, PART I, LINE 3 RELATED ORGANIZATION COMPENSATION DISCLOSURE THE ASME FOUNDATION, INC. DOES NOT PAY COMPENSATION. ALL COMPENSATION IS PAID BY THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS, A RELATED ORGANIZATION. THE AMERICAN SOCIETY OF MECHANICAL ENGINEERS USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, FORM 990 OF OTHER ORGANIZATIONS, AND AN APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE IN ORDER TO ESTABLISH THE COMPENSATION OF ITS CEO/EXECUTIVE DIRECTOR. SCHEDULE J, PART I, LINE 4B THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DURING 2016 AND THE AMOUNTS ARE REPORTED IN SCHEDULE J: PART II, COLUMN (C): THOMAS LOUGHLIN $156,720 FUTURE ENGINEERS SEE PART V 250000 OTHER ASSISTANCE SPONSORSHIP SCHEDULE L, PART III, COLUMN B RELATIONSHIP: ORGANIZATION OWNED BY BOARD MEMBER FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES THE ASME FOUNDATION, INC. ("FOUNDATION") FUNDS PROGRAMS IN K12 SCIENCE TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM): UNIVERSITY STUDENT & EARLY CAREER DEVELOPMENT; GLOBAL DEVELOPMENT & HUMANITARIAN ENGINEERING; AND NONPARTISAN TECHNICALLY SOUND PUBLIC POLICY. EXPENSES $362,614. INCLUDING GRANTS OF $ 0. REVENUE $ 0. FORM 990, PART V, LINE 2A THE FOUNDATION HAS NO EMPLOYEES. ALL INDIVIDUALS WORKING FOR 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 FOUNDATION HAS BEEN PROPERLY REPORTED AS FOUNDATION SALARY EXPENSE. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW AN INDEPENDENT ACCOUNTING FIRM PREPARES THE IRS FORM 990 AND PROVIDES AN ELECTRONIC COPY TO THE FOUNDATION'S TREASURER. THE TREASURER REVIEWS 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 AS WILL BE SUBMITTED TO THE IRS IS THEN DISTRIBUTED TO THE FULL FOUNDATION BOARD OF DIRECTORS PRIOR TO SUBMISSION TO THE IRS. FORM 990 IS FILED WITH THE IRS ELECTRONICALLY. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE FOUNDATION HAS ADOPTED A CONFLICT OF INTEREST POLICY WHICH APPLIES TO BOARD MEMBERS, OFFICERS, COMMITTEE MEMBERS AND KEY EMPLOYEES OF THE ASME FOUNDATION. 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 FOUNDATION 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 OTHER CHANGES IN NET ASSETS PRESENT VALUE ADJUSTMENT TO ANNUITIES PAYABLE $(43,558) AMERICAN SOCIETY OF MECHANICAL ENGINEERS TWO PARK AVENUE NEW YORK NY 10016 131623899 ENGIN. ASSOC NY 501(C) (3) 10 NA false CHARITABLE REMAINDER TRUST (1) TRUST NJ NA false true true false false false false false false false false true true true true false false false