ASPHALT INSTITUTE 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

1919

Legal Domicile

Principal Officer

PETER T GRASS

Phone

8592884960

Tax Period

2024-01-01 to 2024-12-31

ASPHALT INSTITUTE INC, founded in 1919, is a community nonprofit that reported $9.6M in total revenue in fiscal year 2024.

Mission

THROUGH EDUCATION, ENGINEERING, TECHNICAL DEVELOPMENT, ENVIRONMENTAL STEWARDSHIP AND MARKETING LEADERSHIP, THE ASPHALT INSTITUTE PROMOTES THE SAFE USE, BENEFITS, AND QUALITY PERFORMANCE OF PETROLEUM ASPHALTS IN A UNIFIED VOICE FOR OUR MEMBERSHIP.

Program Service Accomplishments

Program 1

Expenses: $185,657 Revenue: $540,064

PUBLICATIONS PROGRAM. THE ASPHALT INSTITUTE DEVELOPS A WIDE RANGE OF SAFETY AND EDUCATIONAL MATERIALS. THESE INCLUDE TEXTBOOK-SIZED TECHNICAL MANUALS, SMALLER TOPICAL PUBLICATIONS, A...

PUBLICATIONS PROGRAM. THE ASPHALT INSTITUTE DEVELOPS A WIDE RANGE OF SAFETY AND EDUCATIONAL MATERIALS. THESE INCLUDE TEXTBOOK-SIZED TECHNICAL MANUALS, SMALLER TOPICAL PUBLICATIONS, A SUBSCRIPTION-FREE ON-LINE AND PRINT MAGAZINE AIMED AT PROMOTING QUALITY CONSTRUCTION OF ASPHALT PAVEMENTS, AMONG MANY OTHERS. SAFETY-RELATED PUBLICATIONS INCLUDE BOTH PRINT AND VIDEO MEDIA TO HELP EDUCATE WORKERS AND PREVENT ACCIDENTS. PROPRIETARY SOFTWARE IS OFFERED TO HELP MANAGE LABORATORY QUALITY MANUALS A KEY COMPONENT OF LAB CERTIFICATION PROGRAMS.

Program 2

Expenses: $15,275 Revenue: $299,169

INDUSTRY RESEARCH. THE ASPHALT INSTITUTE CONDUCTS BOTH FUNDED AND NON-FUNDED RESEARCH RELATED TO ASPHALT MIXTURES, ASPHALT BINDERS, AND ASPHALT EMULSIONS. THE GENERAL GOAL OF THIS RESEARCH IS TO...

INDUSTRY RESEARCH. THE ASPHALT INSTITUTE CONDUCTS BOTH FUNDED AND NON-FUNDED RESEARCH RELATED TO ASPHALT MIXTURES, ASPHALT BINDERS, AND ASPHALT EMULSIONS. THE GENERAL GOAL OF THIS RESEARCH IS TO ADVANCE THE KNOWLEDGE OF ASPHALT BINDERS AND MIXTURES AND TO IMPROVE PERFORMANCE. PUBLIC RESEARCH IS PUBLISHED AND PRESENTED IN TECHNICAL CONFERENCES WORLDWIDE.

Program 3

Expenses: $152,861 Revenue: $887,184

TRAINING. UNDER THE ASPHALT ACADEMY BRAND, THE ASPHALT INSTITUTE DEVELOPS AND OFFERS A WIDE RANGE OF TRAINING, BOTH WEB-BASED AND IN-PERSON, TO AUDIENCES WORLDWIDE. SOME TRAINING COURSES CAN LEAD TO INDIVIDUAL CERTIFICATION BY SPECIALTY. EXAMPLES OF TRAINING INCLUDE BASIC BINDER TECHNICIAN TRAINING, CONSTRUCTION OF QUALITY ASPHALT PAVEMENTS, PAVEMENT INSPECTOR CERTIFICATION, BASIC ROOFING TECHNICIAN TRAINING, TO LIST A FEW. THESE TRAINING PROGRAMS ARE A MAJOR PART OF THE ASPHALT INSTITUTE'S MISSION TO PROVIDE CONTINUING EDUCATION FOR THE INDUSTRY.

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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 $0

Program Service Revenue $8,624,062

Investment Income $437,508

Other Revenue $500,827

TOTAL REVENUE $9,562,397

Expense Breakdown

Grants Paid $10,007

Salaries & Benefits $5,187,680

Fundraising Expenses $0

Program Expenses $1,199,230

Other Expenses $4,244,782

TOTAL EXPENSES $9,442,469

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,562,397	$9,273,389	+0.0%
Expenses	$9,442,469	$8,550,075	+0.1%
Net Income	$119,928	$723,314	-0.8%

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

245

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

$725,132

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB TREECE	CHAIR	3.00	Director	$0	$0	$0
CRAIG FABRIZIO	TREASURER	1.00	Director	$0	$0	$0
CHARLES BOAN	VICE CHAIR	1.00	Director	$0	$0	$0
SETH HANKOWSKI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BROWNIE	DIRECTOR	1.00	Director	$0	$0	$0
LORA COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN YOCCA	DIRECTOR	1.00	Director	$0	$0	$0
DAMON KREHBIEL	DIRECTOR	1.00	Director	$0	$0	$0
MATT JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
GENEVIEVE THERIAULT	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
STEVE MUSON	DIRECTOR	1.00	Director	$0	$0	$0
DONNA KWAPIS	DIRECTOR	1.00	Director	$0	$0	$0
LEE SCHLOSS	DIRECTOR	1.00	Director	$0	$0	$0
LUIS BENAVIDES	DIRECTOR	1.00	Director	$0	$0	$0
CHIP RAY	DIRECTOR	1.00	Director	$0	$0	$0
BOB CHEEVER	DIRECTOR	1.00	Director	$0	$0	$0
JEFF GIBBS	DIRECTOR	1.00	Director	$0	$0	$0
BRENT BANACH	DIRECTOR	1.00	Director	$0	$0	$0
MARTIIN RAY	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK NATION	DIRECTOR	1.00	Director	$0	$0	$0
JAMES RAWSON	DIRECTOR	1.00	Director	$0	$0	$0
BRAD SCHMITZ	DIRECTOR	1.00	Director	$0	$0	$0
STEVE THWEATT	DIRECTOR	1.00	Director	$0	$0	$0
DOMINIC KRUGGEL	DIRECTOR	1.00	Director	$0	$0	$0
KRISTINA EITING	DIRECTOR	1.00	Director	$0	$0	$0
CLINT RYBAK	DIRECTOR	1.00	Director	$0	$0	$0
ED STARBUCK	DIRECTOR	1.00	Director	$0	$0	$0
BOB SEDON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MUHR	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SUITS JR	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN RICKETTS	DIRECTOR	1.00	Director	$0	$0	$0
ROD PULLEN	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW PAKKALA	DIRECTOR	1.00	Director	$0	$0	$0
PETER T GRASS	PRESIDENT	45.00	Officer	$511,560	$27,083	$538,643
DANIELLE STEINBERG	DIR. FINANCE & ADMIN/SECRETARY	45.00	Officer	$151,886	$34,603	$186,489
TRACIE SCHLICH	DIRECTOR OF MARKETING & MEMBERSHIP	40.00	Highest	$206,778	$16,863	$223,641
MARK BUNCHER	DIRECTOR OF ENGINEERING	40.00	Highest	$219,334	$20,022	$239,356
MIKE ANDERSON	DIRECTOR OF RESEARCH & LAB	40.00	Highest	$187,967	$37,293	$225,260
PAUL SOHI	DIRECTOR HS & E	40.00	Highest	$193,376	$36,368	$229,744
DANIEL GIERHART	DEPUTY DIRECTOR OF ENGINEERING	40.00	Highest	$193,293	$37,572	$230,865

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	$9,562,397	$9,442,469	$14,798,159	$119,928
2023	$9,273,389	$8,550,075	$13,421,979	$723,314
2022	$7,898,545	$8,500,617	$11,736,157	$-602,072
2021	$7,949,306	$7,221,323	$13,937,095	$727,983
2020	$6,788,608	$6,618,032	$12,375,354	$170,576
2019	$8,021,855	$8,532,396	$12,037,306	$-510,541
2018	$7,790,865	$7,586,467	$11,730,008	$204,398