NATURAL STONE INSTITUTE

EIN: 382817639

OBERLIN, OH

Total Revenue
$3,380,681
Total Expenses
$3,351,307
Total Assets
$4,199,896
Net Assets
$3,058,552
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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
MI
Principal Officer
JAMES HIEB
Phone
4402509222
Tax Period
2023-01-01 to 2023-12-31

NATURAL STONE INSTITUTE, founded in 1988, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2023.

Mission

THE NATURAL STONE INSTITUTE'S MISSION STATEMENT IS: TO LEAD, SUPPORT, AND PROMOTE A UNIFIED NATURAL STONE INDUSTRY THROUGH AUTHORITIVE INFORMATION, EDUCATION, STANDARDS, AND ADVOCACY. ADDITIONALLY, ITS CORE VALUES INCLUDE LEADERSHIP, STEWARDSHIP, COLLABORATION, AND PROFESSIONALISM.THE NATURAL STONE INSTITUTE (NSI) WAS FORMED IN 2018 AS A MERGER OF THE MARBLE INSTITUTE OF AMERICA (MIA) AND THE BUILDING STONE INSTITUTE (BSI). THE BUILDING STONE INSTITUTE WAS FORMED IN 1894 AS THE INTERNATIONAL CUT STONE CONTRACTORS AND QUARRYMEN'S ASSOCIATION; THE NAME WAS CHANGED TO THE BUILDING STONE INSTITUTE IN 1955. ESTABLISHED IN 1903 AS THE NATIONAL ASSOCIATION OF MARBLE DEALERS, THE MARBLE INSTITUTE OF AMERICA OFFICIALLY FORMED IN 1944, WHEN THE ASSOCIATION MERGED WITH THE NATIONAL ASSOCIATION OF MARBLE PRODUCERS. IN 1962, THE NATIONAL ASSOCIATION OF MARBLE BUILDERS MERGED WITH MARBLE INSTITUTE OF AMERICA.

Program Service Accomplishments

Program 1
Expenses: $984,975 Revenue: $825,228

ELECTRONIC MEDIA AND PUBLICATIONS:THE ORGANIZATION PROVIDES A VARIETY OF PRINT AND ELECTRONIC PUBLICATIONS, INCLUDING A BI-MONTHLY MEMBER NEWSLETTER AND MAGAZINE FOR THE DESIGN COMMUNITY. THE...

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ELECTRONIC MEDIA AND PUBLICATIONS:THE ORGANIZATION PROVIDES A VARIETY OF PRINT AND ELECTRONIC PUBLICATIONS, INCLUDING A BI-MONTHLY MEMBER NEWSLETTER AND MAGAZINE FOR THE DESIGN COMMUNITY. THE ORGANIZATION ALSO PROVIDES THE DIMENSION STONE DESIGN MANUAL, A TECHNICAL PUBLICATION CONTAINING SPECIFICATIONS AND TECHNICAL DATA REGARDING WORKING WITH NATURAL STONE. CONSUMER BROCHURES AND SAFETY RESOURCES ARE ALSO PROVIDED.

Program 2
Expenses: $329,602 Revenue: $184,399

INDUSTRY EDUCATION:THE ORGANIZATION PROVIDES HIGH QUALITY EDUCATIONAL PROGRAMMING FOR NATURAL STONE PROFESSIONALS THROUGH THE FOLLOWING OUTLETS: TRADE SHOWS, REGIONAL SEMINARS, ONLINE EDUCATION, AND...

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INDUSTRY EDUCATION:THE ORGANIZATION PROVIDES HIGH QUALITY EDUCATIONAL PROGRAMMING FOR NATURAL STONE PROFESSIONALS THROUGH THE FOLLOWING OUTLETS: TRADE SHOWS, REGIONAL SEMINARS, ONLINE EDUCATION, AND WEBINARS. CONTINUING EDUCATION TO THE ARCHITECTURE AND DESIGN COMMUNITY IS PROVIDED THROUGH TRADE SHOWS, ONLINE EDUCATION, WEBINARS, AND IN PERSON SEMINARS.

Program 3
Expenses: $160,529 Revenue: $544,529

PROMOTION OUTREACH (TRADE ADVERTISING AND TRADE SHOW PARTICIPATION):NSI ADVERTISES REGULARLY TO PROMOTE THE ATTRIBUTES OF, AND THE USE OF, NATURAL STONE TO ARCHITECTS, DESIGNERS, AND KITCHEN & BATH...

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PROMOTION OUTREACH (TRADE ADVERTISING AND TRADE SHOW PARTICIPATION):NSI ADVERTISES REGULARLY TO PROMOTE THE ATTRIBUTES OF, AND THE USE OF, NATURAL STONE TO ARCHITECTS, DESIGNERS, AND KITCHEN & BATH DEALERS. THE ASSOCIATION ALSO EXHIBITS AT SEVERAL TRADE SHOWS IN THE U.S. AND INTERNATIONALLY PROMOTING THE USE OF NATURAL STONE AS WELL AS THE TECHNICAL STANDARDS PUBLISHED BY THE NATURAL STONE INSTITUTE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,680,788
Program Service Revenue $1,601,559
Investment Income $98,334
Other Revenue $0
TOTAL REVENUE $3,380,681

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,832,474
Fundraising Expenses $0
Program Expenses $1,475,106
Other Expenses $1,518,833
TOTAL EXPENSES $3,351,307

Year-over-Year Comparison

2023 2022 Change
Revenue $3,380,681 $3,312,010 +0.0%
Expenses $3,351,307 $3,039,204 +0.1%
Net Income $29,374 $272,806 -0.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
24
Volunteers
13

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$244,487
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BADIA ONTRA IMMEDIATE PAST PRESIDENT 1.00
Officer Director
$0 $0 $0
DUANE NAQUIN PRESIDENT 1.00
Officer Director
$0 $0 $0
KATIE JENSEN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
BLAKE CHRISTENSEN DIRECTOR 1.00
Director
$0 $0 $0
EVAN COHEN TREASURER 1.00
Officer Director
$0 $0 $0
FILIPPO EMANUEL DIRECTOR 1.00
Director
$0 $0 $0
JEFF ERICKSON SECRETARY 1.00
Director
$0 $0 $0
DARRELL PETIT DIRECTOR 1.00
Director
$0 $0 $0
AMIT GUPTA DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN MITNICK DIRECTOR 1.00
Director
$0 $0 $0
SAM ARCOT DIRECTOR 1.00
Director
$0 $0 $0
SAL BANCHITTA DIRECTOR 1.00
Director
$0 $0 $0
IRINI PAPAGIANNOULI DIRECTOR 1.00
Director
$0 $0 $0
JAMES HIEB CHIEF EXECUTIVE OFFICER 40.00
Officer
$214,254 $30,233 $244,487
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,380,681 $3,351,307 $4,199,896 $29,374
2022 $3,312,010 $3,039,204 $3,618,705 $272,806
2021 $2,903,068 $2,547,718 $4,154,749 $355,350
2020 $2,495,042 $2,433,540 $3,520,874 $61,502
2019 $2,802,462 $2,851,385 $3,011,163 $-48,923
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