THE MANUFACTURING INSTITUTE (EIN 521073576) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1976

Legal Domicile

Principal Officer

CAROLYN LEE

Phone

2026373426

Tax Period

2023-01-01 to 2023-12-31

THE MANUFACTURING INSTITUTE, founded in 1976, is a community nonprofit that reported $8.2M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $9.6M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE MANUFACTURING INSTITUTE'S MISSION IS TO BUILD A RESILIENT MANUFACTURING WORKFORCE PREPARED FOR THE CHALLENGES AND OPPORTUNITIES OF THE FUTURE. THROUGH IMPLEMENTING GROUNDBREAKING PROGRAMS, CONVENING INDUSTRY LEADERS AND CONDUCTING INNOVATIVE RESEARCH, THE MI FURTHERS INDIVIDUAL OPPORTUNITY, COMMUNITY PROSPERITY AND A MORE COMPETITIVE MANUFACTURING INDUSTRY. AS THE 501 (C)3 NONPROFIT WORKFORCE DEVELOPMENT AND EDUCATION AFFILIATE OF THE NATIONAL ASSOCIATION OF MANUFACTURERS, THE MI IS A TRUSTED ADVISER TO MANUFACTURERS, EQUIPPING THEM WITH SOLUTIONS TO ADDRESS THE TOUGHEST WORKFORCE ISSUES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,432,887

Program Service Revenue $1,637,554

Investment Income $134,823

Other Revenue $8,942

TOTAL REVENUE $8,214,206

Expense Breakdown

Grants Paid $227,500

Salaries & Benefits $4,230,321

Fundraising Expenses $612,000

Program Expenses $8,543,281

Other Expenses $5,133,786

TOTAL EXPENSES $9,591,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,214,206	$8,998,894	-0.1%
Expenses	$9,591,607	$11,637,765	-0.2%
Net Income	$-1,377,401	$-2,638,871	-0.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$5,842,430

Total Directors

$5,017,964

Key Employees

$468,607

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY TIMMONS	BOARD CHAIR	2.00	Officer Director	$0	$871,639	$4,349,004
TODD BOPPELL	DIRECTOR & ACTING TREASURER	1.00	Officer Director	$0	$41,769	$668,960
MARY ANDRINGA	DIRECTOR	1.00	Director	$0	$0	$0
KARL HUTTER	DIRECTOR	1.00	Director	$0	$0	$0
ROSE LEE	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS NIELSEN	DIRECTOR	1.00	Director	$0	$0	$0
NICOLAS PINCHUK	DIRECTOR	1.00	Director	$0	$0	$0
KATHY WENGEL	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN LEE	PRESIDENT & EXECUTIVE DIRECTOR	40.00	Officer	$502,298	$49,139	$551,437
JULIE CHASE	GENERAL COUNSEL AND SECRETARY	1.00	Officer	$0	$28,498	$273,029
KEITH SMITH	CHIEF ADMINISTRATIVE OFFICER	34.00	Key Emp	$368,604	$34,955	$468,607
HERBERT GRANT	VP - PROGRAM EXECUTION	40.00	Highest	$232,641	$9,720	$242,361
GARDNER CARRICK	VP - WORKFORCE SOLUTIONS	40.00	Highest	$232,284	$18,979	$251,263
POOJA TRIPATHI	SENIOR DIRECTOR WORKFORCE INNOVATION	40.00	Highest	$156,722	$20,022	$176,744
JAMES DAVIS	NATIONAL DIRECTOR - FAME USA	40.00	Highest	$152,214	$35,216	$187,430
AMY THOMAS	NATIONAL DIRECTOR - MILITARY & VETERANS INITIATIVE	40.00	Highest	$148,308	$13,475	$161,783

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	$8,214,206	$9,591,607	$8,505,501	$-1,377,401
2022	$8,998,894	$11,637,765	$10,834,691	$-2,638,871
2021	$11,688,291	$7,177,784	$12,149,684	$4,510,507
2020	$8,055,776	$3,952,303	$7,243,553	$4,103,473
2019	$3,834,569	$3,903,338	$3,091,131	$-68,769
2018	$4,095,507	$2,685,325	$3,604,566	$1,410,182

THE MANUFACTURING INSTITUTE