ASPHALT INSTITUTE FOUNDATION INC

EIN: 471154832 501(c)(3) Employment

LEXINGTON, KY

Total Revenue
$661,373
Total Expenses
$499,077
Total Assets
$4,849,437
Net Assets
$4,686,454
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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
KY
Principal Officer
REED RYAN
Phone
8592884960
Tax Period
2024-01-01 to 2024-12-31

ASPHALT INSTITUTE FOUNDATION INC, founded in 2014, is a small nonprofit in the Employment sector that reported $661K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $162K, a strong 25% operating margin.

Mission

TO CONDUCT STRATEGIC RESEARCH AND EDUCATIONAL ACTIVITIES THAT ARE DESIGNED TO ADVANCE AND IMPROVE BOTH THE LIQUID ASPHALT INDUSTRY AND THE WELFARE OF THE GENERAL PUBLIC BY ENCOURAGING THE DEVELOPMENT OF FUTURE LEADERS IN THE SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS AREAS BY PROVIDING STUDENTS WITH THE OPPORTUNITY TO DISCOVER, HANDS-ON, THE TYPES OF CAREER OPPORTUNITIES AVAILABLE TO THEM IN THESE VITAL AREAS. THE FOUNDATION FOCUSES RESOURCES ON PUBLICLY AVAILABLE RESEARCH THAT WILL IMPROVE PUBLIC SAFETY BY PROVIDING BETTER AND MORE RELIABLE PRODUCTS AND THAT WILL REDUCE INFRASTRUCTURE COSTS BY EXTENDING PRODUCT LIVES.

Program Service Accomplishments

Program 1
Expenses: $52,994

INTERNSHIP PROGRAM - THIS PROGRAM IS AN ANNUAL TWO-DAY EVENT HELD FOR INTERNS FROM ASPHALT INSTITUTE MEMBER COMPANIES TO ATTEND AND LEARN MORE ABOUT THE LIQUID ASPHALT INDUSTRY. THE PROGRAM FOCUSES...

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INTERNSHIP PROGRAM - THIS PROGRAM IS AN ANNUAL TWO-DAY EVENT HELD FOR INTERNS FROM ASPHALT INSTITUTE MEMBER COMPANIES TO ATTEND AND LEARN MORE ABOUT THE LIQUID ASPHALT INDUSTRY. THE PROGRAM FOCUSES ON HELPING STUDENTS UNDERSTAND THE VARIED INDUSTRY CAREER OPPORTUNITIES. THE STUDENTS TAKE PART IN LABORATORY TOURS, "ASPHALT 101" PRESENTATIONS AND LEARN PRACTICAL ADVICE FOR THEIR INTERNSHIP EXPERIENCE. STUDENT PARTICIPANTS ALSO HAVE AN OPPORTUNITY TO ATTEND THE ASPHALT INSTITUTE'S SUMMER MEETING TO NETWORK WITH MEMBER COMPANIES AND FURTHER LEARN ABOUT JOB AVENUES WITHIN THE INDUSTRY.BILL AND SHIREEN KIRK SCHOLARSHIP FUND - THIS FUND ANNUALLY AWARDS COLLEGE SCHOLARSHIPS TO STUDENTS PURSUING BACHELORS, MASTERS OR DOCTORAL DEGREES IN AREAS DESIGNATED BY THE SCHOLARSHIP GUIDELINES. SPECIAL CONSIDERATION IS GIVEN TO STUDENTS WHO ARE PURSUING DEGREES IN CIVIL INFRASTRUCTURE, PARTICULARLY IN THE AREA OF ASPHALT MATERIALS AND THEIR USE. SCHOLARSHIP MONIES ARE PAID DIRECTLY TO A RECIPIENT'S INSTITUTION AND MAY BE APPLIED TO QUALIFIED EDUCATION EXPENSES SUCH AS TUITION, BOOKS AND RELATED COURSE FEES. ASPHALT TECHNOLOGY MODULE & TEXTBOOK PROGRAM - LAUNCHED IN 2020, THE ASPHALT TECHNOLOGY MODULE CONSISTS OF LECTURES DESIGNED TO ASSIST PROFESSORS IN INTEGRATING ASPHALT CURRICULUM INTO A BASIC ENGINEERING OR CONSTRUCTION MATERIALS COURSE FOR UNDERGRADUATE STUDENTS. THE MODULE PACKAGE INCLUDES SYLLABUS, POWERPOINT SLIDES, LECTURE NOTES, TEACHING TIPS, PRACTICE PROBLEMS AND ELECTRONIC BOOK PUBLICATIONS FOR STUDENTS TO UTILIZE DURING THE COURSE. THE MODULE IS COMPLIMENTARY TO UNIVERSITY PROFESSORS IN THE UNITED STATES AND CANADA FOR CLASSROOM USE. ADDITIONALLY, INDIVIDUAL AND CORPORATE DONORS HAVE SPONSORED HARDCOPY PUBLICATIONS FOR THESE CLASSROOMS THROUGH THE AI FOUNDATION'S TEXTBOOK PROGRAM, WHICH ALLOW STUDENTS TO BUILD THEIR OWN PROFESSIONAL RESOURCE LIBRARIES WITH RELEVANT INDUSTRY PUBLICATIONS.

Program 2
Expenses: $360,166

STRATEGIC ASPHALT RESEARCH (STAR) SYMPOSIUM - THE STRATEGIC ASPHALT RESEARCH (STAR) SYMPOSIUM AIMS TO IDENTIFY LONG-TERM STRATEGIC RESEARCH AND INNOVATION THAT WILL BE NEEDED TO ENSURE A ROBUST...

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STRATEGIC ASPHALT RESEARCH (STAR) SYMPOSIUM - THE STRATEGIC ASPHALT RESEARCH (STAR) SYMPOSIUM AIMS TO IDENTIFY LONG-TERM STRATEGIC RESEARCH AND INNOVATION THAT WILL BE NEEDED TO ENSURE A ROBUST ASPHALT INDUSTRY FOR GENERATIONS TO COME. EVENTS HELD IN 2017 AND 2022 ASSEMBLED A DIVERSE GROUP OF INDIVIDUALS TO PARTICIPATE IN THE SYMPOSIUM THAT ALLOWED DISCUSSION AND IDEA SHARING AROUND TOPICS SUCH AS: HUMAN NEEDS/WORKFORCE DEVELOPMENT, ENVIRONMENTAL SUSTAINABILITY, PERFORMANCE/DURABILITY, AND ECONOMICS/INFRASTRUCTURE POLICY AND FUNDING. IDEAS GENERATED WERE PRIORITIZED INTO GOALS AND STRATEGIES LEADING TO THE CREATION OF SYMPOSIUM REPORTS THAT SEEK TO IDENTIFY AND BUILD SOLUTIONS FOR THE BETTERMENT OF THE ASPHALT BINDER INDUSTRY'S FUTURE. THE INFORMATION CONTAINED IN THESE REPORTS SERVES AS A CATALYST TO IDENTIFY FUTURE RESEARCH NEEDS AND PROJECTS.FRED M. FEHSENFELD, SR. CATALYST FOR CHANGE INITIATIVE FUND - THIS FUND PROMOTES THE DEVELOPMENT OF INITIATIVE COMPATIBLE RESEARCH NEEDS STATEMENTS. THE FUND SUPPORTS AND PROMOTES INNOVATION IN THE ASPHALT INDUSTRY INCLUDING PUBLIC PROCUREMENT METHODOLOGY, TRANSPORTATION SYSTEM DESIGNS FEATURING ASPHALT PAVEMENTS, TESTING METHODOLOGY ENABLING PERFORMANCE PREDICTION OF ASPHALT BINDERS AND MIXTURES AND RESEARCH ON THE HUMAN HEALTH EFFECTS FROM EXPOSURE TO ASPHALT PRODUCTS AND MIXTURES.ERGON FOUNDATION, INC. FUND - THIS FUND SUPPORTS RESEARCH AGENDAS, TOPICS AND NEEDS STATEMENTS THAT ARE CONSISTENT WITH THE ERGON FOUNDATION'S INTEREST AND VISION TO ADVANCE THE LIQUID ASPHALT BINDER INDUSTRY. SUSTAINABILITY RESEARCH FUND - THIS FUND SUPPORTS RESEARCH FOCUSED ON A PRAGMATIC UNDERSTANDING OF MARKETS, VELOCITY OF CHANGE AND THE REALITIES OF AN ASPHALT BINDER TRANSITION TO A NET-ZERO CARBON FUTURE AS THE US DEPARTMENT OF TRANSPORTATION SEEKS AN ECONOMY WIDE NET-ZERO TRANSITION BY THE YEAR 2050. THE FUND SUPPORTS RESEARCH TO HELP UNDERSTAND THESE IMPORTANT DYNAMICS AND THEIR IMPACTS ON THE FUTURE USE OF ASPHALT AS A CONSTRUCTION MATERIAL. IT WILL ALSO HELP ENSURE FULL UNDERSTANDING OF THE BENEFITS OF A FULLY RECYCLABLE PAVING SYSTEM WHEN USING ASPHALT BINDERS. THE RESEARCH IS INTENDED TO BE A MAJOR AID IN THE SUSTAINABILITY EDUCATION OF POLICY MAKERS, AGENCIES, AND CUSTOMERS AT ALL LEVELS. STRATEGIC RESEARCH PROGRAM - THIS PROGRAM, GUIDED BY THE AIF RESEARCH COMMITTEE, FOCUSES ON FULFILLING RESEARCH NEEDS STATEMENTS AND PROPOSALS THAT FOCUS ON PERTINENT ISSUES IDENTIFIED BY TECHNICAL INDUSTRY EXPERTS. OUTSIDE DONORS MAY FUND RESEARCH PROJECTS MANAGED BY THE AI FOUNDATION. RESEARCH IS CONDUCTED BY QUALIFIED RESEARCH FACILITIES WITH WORK AND PROJECT MILESTONES MONITORED BY THE AIF RESEARCH COMMITTEE. FINAL REPORTS OF RESEARCH FINDINGS ARE PUBLISHED UNDER THE AI FOUNDATION'S NAME AND AVAILABLE TO THE PUBLIC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $490,402
Program Service Revenue $0
Investment Income $214,022
Other Revenue $-43,051
TOTAL REVENUE $661,373

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $14,315
Program Expenses $413,160
Other Expenses $499,077
TOTAL EXPENSES $499,077

Year-over-Year Comparison

2024 2023 Change
Revenue $661,373 $890,236 -0.3%
Expenses $499,077 $244,265 +1.0%
Net Income $162,296 $645,971 -0.7%
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
12
Independent Members
12
Employees
N/A
Volunteers
54

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
2
$725,132
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN BARRINGTON CHAIR 3.00
Director
$0 $0 $0
BOB CHEEVER VICE CHAIR 1.00
Director
$0 $0 $0
SEAN JENDRY TREASURER 1.00
Director
$0 $0 $0
JEREMY ALEXANDER DIRECTOR 1.00
Director
$0 $0 $0
CHRIS CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
DAVE HENDERSON DIRECTOR 1.00
Director
$0 $0 $0
LEE SCHLOSS DIRECTOR 1.00
Director
$0 $0 $0
PATRICK NATION DIRECTOR 1.00
Director
$0 $0 $0
CHARLES BOAN AI VICE CHAIR 1.00
Director
$0 $0 $0
HAROLD CHIP RAY IMMEDIATE PAST AIF BOARD CHAIR 1.00
Director
$0 $0 $0
RALPH SHIRTS DIRECTOR 1.00
Director
$0 $0 $0
LAURAND LEWANDOWSKI DIRECTOR 1.00
Director
$0 $0 $0
PETER GRASS PRESIDENT 7.30
Officer
$0 $27,083 $538,643
DANIELLE STEINBERG DIRECTOR OF FINANCE AND ADMINISTRATION 4.50
Officer
$0 $34,603 $186,489
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 $661,373 $499,077 $4,849,437 $162,296
2023 $890,236 $244,265 $4,453,054 $645,971
2022 $895,988 $337,089 $3,122,274 $558,899
2021 $874,436 $249,471 $3,293,757 $624,965
2020 $334,003 $83,268 $2,655,907 $250,735
2019 $1,486,913 $92,496 $2,119,591 $1,394,417
2018 $264,871 $52,749 $642,405 $212,122
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