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Nonprofit · EIN 23-7258534

POWER TOOL INSTITUTE INC

Tax-exempt · CLEVELAND, OH 44115

Financials

$1.1M$1.2M2024
Revenue Expenses · by fiscal year end
Financials of POWER TOOL INSTITUTE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,147,263$1,185,940-$38,677$475,671$340,596$135,075
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$700,632
Membership dues
$700,632
Program service revenue
$446,631
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$49,821
Accounting fees
$11,235
Travel
$4,055

Balance sheet and other

Total assets, start of year
$433,064
Total assets, end of year
$475,671
Total liabilities, end of year
$340,596
Net assets, end of year
$135,075
Net assets without donor restrictions
$135,075
Gross receipts
$1,147,263
Employees
0
Volunteers
82
Year formed
1969
State of legal domicile
IL

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
LARRY ALBERTDIRECTOR
Trustee or director
0.5$0
ERIN ASHCROFTDIRECTOR
Trustee or director
0.5$0
TIM BAKERDIRECTOR
Trustee or director
0.5$0
RICH CHAPMANDIRECTOR
Trustee or director
0.5$0
BRADY GROTHDIRECTOR
Trustee or director
0.5$0
ROBERT HATFIELDDIRECTOR
Trustee or director
0.5$0
KEN HEFLEYDIRECTOR
Trustee or director
0.5$0
ART HEROLDDIRECTOR
Trustee or director
0.5$0
MARK HICKOKDIRECTOR
Trustee or director
0.5$0
MICHAEL HOFFMANNDIRECTOR
Trustee or director
0.5$0
DREW HORNICKDIRECTOR
Trustee or director
0.5$0
AMANDA JOHNSONDIRECTOR
Trustee or director
0.5$0
FRANK MANNARINODIRECTOR
Trustee or director
0.5$0
MIKE MCGOWANDIRECTOR
Trustee or director
0.5$0
SUSAN ORENGAPRESIDENT
Trustee or director, Officer
0.5$0
5 more people on this return
NameTitleHours / weekCompensation
AL PIERGADIRECTOR
Trustee or director
0.5$0
DARLENE RALICKIDIRECTOR
Trustee or director
0.5$0
STEVE SHEPHERDDIRECTOR
Trustee or director
0.5$0
STEPHANIE THOMPSONDIRECTOR
Trustee or director
0.5$0
KRIS WILLIAMSDIRECTOR
Trustee or director
0.5$0

Address and contacts

Address (IRS master file)
1300 SUMNER AVE, CLEVELAND, OH 44115-2851
Principal officer (990 for 2024)
SUSAN ORENGA, 1300 SUMNER AVENUE, CLEVELAND, OH 441152851
Signed the 990
MELISSA ALLAY, EXECUTIVE MANAGER
Phone
(216) 241-7333
Return prepared by
CIUNI & PANICHI INC

Mission

TO PROMOTE THE BUSINESS INTERESTS OF THE POWER TOOL INDUSTRY; TO REPRESENT THE INDUSTRY BEFORE GOVERNMENT; TO EDUCATE THE PUBLIC AS TO THE USEFULNESS AND IMPORTANCE OF POWER TOOLS; TO ENCOURAGE HIGH STANDARDS OF SAFETY AND QUALITY CONTROL IN (CONTINUED ON SCHEDULE O) THE MANUFACTURING OF POWER TOOLS; AND TO PREPARE AND DISTRIBUTE INFORMATION ABOUT SAFE USE OF POWER TOOLS.

990 for the year ended December 31, 2024

Program accomplishments

  • JOINT VENTURE: POWER TOOL INSTITUTE HAS DEVELOPED A LICENSE AGREEMENT AND CONTINUES TO MONITOR PATENTS WHICH FURTHERS THE EXEMPT PURPOSE OF PROMOTING THE BUSINESS INTERESTS OF THE INDUSTRY AND ENCOURAGE HIGH STANDARDS OF SAFETY AND QUALITY CONTROL IN MANUFACTURING POWER TOOLS.
  • CONSUMER PRODUCT SAFETY COMMISSION PETITION: POWER TOOL INSTITUTE HAS A PROJECT TO ADDRESS A PETITION FILED BEFORE CPSC BY STEPHEN GASS REQUESTING A MANDATORY SAFETY STANDARD FOR TABLE SAWS WHICH FURTHERS THE EXEMPT PURPOSE OF SAFETY AND QUALITY CONTROL IN THE MANUFACTURING OF POWER TOOLS.
  • GLOBAL HARMONIZATION: POWER TOOL INSTITUTE HAS A PROJECT TO HARMONIZE POWER TOOL STANDARDS WITH EUROPE AND JAPAN WHICH FURTHERS THE EXEMPT PURPOSE OF SAFETY AND QUALITY CONTROL IN THE MANUFACTURING OF POWER TOOLS.
  • BATTERY PROJECT: POWER TOOL INSTITUTE LEADS A LITHIUM-ION BATTERY SAFETY CAMPAIGN, TAKE CHARGE OF YOUR BATTERY. IT INCLUDES PUBLIC RELATIONS, SOCIAL MEDIA, VIDEO, AND EDUCATIONAL RESOURCES FOR THE SAFE SELECTION, USE, AND DISPOSAL OF POWER TOOL BATTERIES WHICH FURTHERS THE EXEMPT PURPOSE OF EDUCATING THE PUBLIC AS TO USEFULNESS AND IMPORTANCE OF POWER TOOLS.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
23-7258534
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1973
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$475,671
Income (IRS master file)
$1,147,263

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024–––IRS
990December 2023$991,021$1,084,088$433,064IRS
990December 2022$833,452$806,273$570,328IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about POWER TOOL INSTITUTE INC

What is the EIN of POWER TOOL INSTITUTE INC?
The employer identification number (EIN) of POWER TOOL INSTITUTE INC is 23-7258534.
Is POWER TOOL INSTITUTE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1973.
Are donations to POWER TOOL INSTITUTE INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does POWER TOOL INSTITUTE INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of POWER TOOL INSTITUTE INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did POWER TOOL INSTITUTE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of POWER TOOL INSTITUTE INC?
The 990 for the year ended December 31, 2024 names SUSAN ORENGA.
Who are the officers and directors of POWER TOOL INSTITUTE INC?
The 990 for the year ended December 31, 2024 lists 20 people; 0 received compensation from the organization.
How much revenue does POWER TOOL INSTITUTE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,147,263, expenses of $1,185,940 and total assets of $475,671 at year end.

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