NATIONAL BARREL & DRUM ASSOC INC

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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

1942

Legal Domicile

Principal Officer

Paul Rankin

Phone

3015773786

Tax Period

2024-01-01 to 2024-12-31

NATIONAL BARREL & DRUM ASSOC INC, founded in 1942, is a small nonprofit that reported $884K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year.

Mission

THE ASSOCIATION IS PRIMARILY ENGAGED IN EDUCATING AND INFORMING MEMBERS ON STATE, FEDERAL, AND INTERNATIONAL LAWS AND REGULATIONS, AND ADVANCING THE COMMON WELFARE OF THE INDUSTRIAL PACKAGING INDUSTRY BEFORE CONGRESS AND GOVERNMENT AGENCIES. FURTHERMORE, THE ASSOCIATION IS ACTIVELY ENGAGED IN EDUCATING AND INFORMING MEMBERS OF TECHNICAL, PRODUCT, AND COMMERCE ADVANCEMENTS AND UPDATES.

Program Service Accomplishments

Program 1

Expenses: $80,556 Revenue: $82,586

ANNUAL CONVENTION - THE ASSOCIATION HOLDS AN ANNUAL CONFERENCE EACH YEAR IN A DIFFERENT LOCATION IN THE U.S. THE CONFERENCE INCLUDES A BOARD OF DIRECTORS MEETING AND THE ANNUAL MEMBERSHIP MEETING, IN ACCORDANCE WITH STATUTORY AND BY-LAWS REQUIREMENTS. APPROXIMATELY 120 ASSOCIATION MEMBERS ATTEND THE MEETING.

Program 2

Expenses: $59,879 Revenue: $47,310

SPRING TECHNICAL CONFERENCE - EACH SPRING THE ASSOCIATION SPONSORS A TECHNICAL MEETING WHICH DRAWS ABOUT 100 MEMBERS. THE MEETING FOCUSES ON TECHNICAL AND BUSINESS DEVELOPMENTS, AND GENERALLY...

SPRING TECHNICAL CONFERENCE - EACH SPRING THE ASSOCIATION SPONSORS A TECHNICAL MEETING WHICH DRAWS ABOUT 100 MEMBERS. THE MEETING FOCUSES ON TECHNICAL AND BUSINESS DEVELOPMENTS, AND GENERALLY INCLUDES A PLANT TOUR.

Program 3

Expenses: $36,506 Revenue: $37,365

MSDS PROGRAM - U.S. REGULATIONS REQUIRE EMPLOYERS TO PROVIDE EMPLOYEES WITH ACCESS TO "MATERIAL SAFETY DATA SHEETS" (MSDS) WHICH CONTAIN SAFETY AND EMERGENCY AID INFORMATION ON HAZARDOUS SUBSTANCES ENCOUNTERED IN THE WORKPLACE. FOR THE CONVENIENCE OF ITS MEMBERS, FOR A FEE THAT COVERS ONLY ACTUAL COSTS, THE ORGANIZATION PROVIDES MEMBERS WITH ACCESS TO A GLOBAL COMPUTERIZED LIST OF MSDS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $687,240

Program Service Revenue $178,261

Investment Income $8,789

Other Revenue $9,795

TOTAL REVENUE $884,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $440,427

Fundraising Expenses $0

Program Expenses $797,954

Other Expenses $438,900

TOTAL EXPENSES $879,327

Year-over-Year Comparison

	2024	2023	Change
Revenue	$884,085	$937,133	-0.1%
Expenses	$879,327	$1,007,067	-0.1%
Net Income	$4,758	$-69,934	-1.1%

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

Volunteers

N/A

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

$415,664

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM EVOY JR	DIRECTOR	0.00	Director	$0	$0	$0
NOAH FLOM	DIRECTOR	0.00	Director	$0	$0	$0
MIKE CHORPASH	DIRECTOR	0.00	Director	$0	$0	$0
WILL MALLINSON	DIRECTOR	0.00	Director	$0	$0	$0
JOHN SMYTH	DIRECTOR	0.00	Director	$0	$0	$0
RICK HASKINS	DIRECTOR	0.00	Director	$0	$0	$0
BRIAN EVOY	DIRECTOR	0.00	Director	$0	$0	$0
DEAN RICKER	DIRECTOR	0.00	Director	$0	$0	$0
RANDY SPEIGHTS	DIRECTOR	0.00	Director	$0	$0	$0
JIM GILLIS	DIRECTOR	0.00	Director	$0	$0	$0
HILTON GERICKE	DIRECTOR	0.00	Director	$0	$0	$0
BRANDON O'BRYAN	DIRECTOR	0.00	Director	$0	$0	$0
FREDERIK WENZEL	DIRECTOR	0.00	Director	$0	$0	$0
PAUL RANKIN	PRESIDENT	40.00	Officer	$240,563	$53,001	$293,564
CL PETTIT	TECHNICAL DIRECTOR	40.00	Officer	$93,500	$28,600	$122,100
ERIC BERNATH	CHAIR	0.00	Officer	$0	$0	$0
MIKE STEPHEN	TREASURER	0.00	Officer	$0	$0	$0
DAVID LEVINE	VICE CHAIRMAN	0.00	Officer	$0	$0	$0

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	$884,085	$879,327	$589,107	$4,758
2023	$937,133	$1,007,067	$529,900	$-69,934
2022	$826,323	$824,573	$590,326	$1,750
2021	$725,554	$613,639	$561,790	$111,915
2020	$711,870	$660,637	$459,995	$51,233
2019	$775,151	$869,477	$410,684	$-94,326
2018	$824,603	$1,017,079	$553,318	$-192,476