Overview
What is Product Stewardship Institute Inc?
The Product Stewardship Institute Inc, situated in Boston, Massachusetts, is a distinguished nonprofit organization dedicated to advocating for and advancing responsible product management from creation to disposal. As a pioneer in product stewardship in the U.S., PSI has played a significant role in mediating extended producer responsibility (EPR) policies, programs, and laws since 2000. With a broad base of members, including governments, businesses, and environmental organizations spanning 48 states, PSI has been instrumental in enacting 131 EPR laws for 16 product categories, such as packaging, in 33 states. Their work has led to a significant shift in policies towards reducing waste, boosting reuse, and recycling, creating green jobs, and lowering public costs. In 2022, PSI celebrated milestones in packaging EPR in Colorado, California, and other states, and expanded their partnerships with trade associations and industry leaders.
Official website here: www.productstewardship.us/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Product Stewardship Institute Inc has received a two-star rating from Charity Navigator, indicating a need for improvement. While the organization excels in accountability and finance, achieving a perfect score of 100% in this area, it faces significant challenges in its overall financial health, particularly with a high liabilities to assets ratio of 193.83%. This suggests potential financial instability, which is a critical concern for stakeholders.
The institute demonstrates strong governance practices with all board members being independent and an effective audit and oversight committee in place. However, it lacks key policies, such as a whistleblower policy and the posting of its tax form on its website, which are essential for transparency and trust. These gaps in governance may raise concerns among donors and supporters regarding the organization's operational integrity.
Additionally, the program expense ratio is relatively low at 56.65%, which implies that a smaller portion of its expenditures is going directly towards its mission-related activities. This may lead to questions about the effectiveness of its programs and overall impact. The organization will need to address these issues to improve its rating and gain greater trust from the public and potential funders.
This AI summary has been generated from information found on Charity Navigator.
Is Product Stewardship Institute Inc legitimate?
Product Stewardship Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Product Stewardship Institute Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $168,487
Professional Fundraising Fees: $0
Other Salaries and Wages: $496,232
For more financial information, click here
Official website here: www.productstewardship.us/
What is the mission statement of Product Stewardship Institute Inc?
The Product Stewardship Institute Inc, acting as a policy advocate and consulting nonprofit, is dedicated to driving the circular economy. Their mission is to ensure that products are managed responsibly from their design phase through to the end of their life cycle. Established in 2000, PSI pioneered extended producer responsibility (EPR) policies in the U.S., bringing together various stakeholders to develop and mediate related laws and programs. Drawing on global best practices and international relationships, PSI's expert testimony and model legislation have contributed to the enactment of 131 EPR laws across 33 states and 16 product categories, including packaging. The organization's network includes state, local, and tribal governments from 48 states, as well as more than 120 business partners, academic institutions, environmental nonprofits, and international governments. Collectively, PSI advances scalable solutions that safeguard both people and the environment.
Official website here: www.productstewardship.us/
Who is the CEO of Product Stewardship Institute Inc?
Scott Cassel is the Chief Executive Officer of Product Stewardship Institute Inc. The CEO's salary of Product Stewardship Institute Inc is $140,078 and their total compensation is $140,078.
Official website here: www.productstewardship.us/
What is the revenue of Product Stewardship Institute Inc?
Product Stewardship Institute Inc's revenue in 2022 was $933,235.
Official website here: www.productstewardship.us/
Who are the executives of Product Stewardship Institute Inc and what are their salaries?
The average compensation at Product Stewardship Institute Inc during 2022 was $51,132. There are 13 employees at Product Stewardship Institute Inc.
Here are 15 key members and their salaries (Product Stewardship Institute Inc's CEO's salary is $140,078 and their total compensation is $140,078):
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Official website here: www.productstewardship.us/
Where can I find the form 990 for Product Stewardship Institute Inc?
Product Stewardship Institute Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.productstewardship.us/
Learn more at the official website: www.productstewardship.us/
Mission Statement of Product Stewardship Institute Inc
The Product Stewardship Institute, a renowned policy advocate and consulting nonprofit, is dedicated to driving the emergence of a circular economy. Their mission is to ensure that products are responsibly managed from their inception to their disposal. Established in 2000, PSI pioneered the concept of product stewardship in the United States, bringing together various stakeholders to develop and negotiate extended producer responsibility (EPR) policies, programs, and laws. By leveraging global best practices and maintaining extensive multinational relationships, PSI has significantly contributed to the enactment of 131 EPR laws in 33 states across 16 product categories, including packaging. The Institute's influential expert testimony and model legislation have not only shaped policy but also paved the way for sustainable solutions that safeguard both people and the environment. With a diverse membership base comprising state, local, and tribal governments from 48 states, as well as over 120 businesses, academic institutions, environmental nonprofits, and international governments, PSI is at the forefront of advancing scalable solutions that promote responsible product management from design to end of life.
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Impact
August, 2024
Product Stewardship Institute Inc has made a significant impact in advancing extended producer responsibility (EPR) policies for various product categories, most notably in packaging, paint, carpet, mattresses, and pharmaceuticals. In 2022, the organization celebrated milestones such as the enactment of packaging EPR laws in Colorado and California, following similar legislations in Maine and Oregon. These efforts have not only contributed to the proliferation of EPR dialogues and programs in multiple states but also fostered a shift in stakeholder perspectives towards seeing EPR as a crucial component of the circular economy.
Specific achievements include providing technical support for the establishment of packaging EPR programs in Colorado and California, facilitating the launch of paint recycling programs in New York, and advocating for carpet EPR laws that promote sustainable practices and job creation. Additionally, PSI played a key role in the enactment of mattress EPR laws in several states, leading to the recycling of millions of mattresses and significant waste diversion from landfills.
Furthermore, the organization's efforts in promoting pharmaceutical EPR legislation, such as in Illinois, have paved the way for drug manufacturers to fund and operate statewide take-back programs. These initiatives have not only enhanced waste management practices but also garnered bipartisan support and coalition-building efforts around responsible product stewardship.
Overall, Product Stewardship Institute Inc's advocacy and consulting work have resulted in the enactment of 131 EPR laws across 33 states, demonstrating a commitment to advancing scalable solutions that protect both people and the planet in partnership with various stakeholders.
This information is meant to be a general summary of Product Stewardship Institute Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4
- Program Service Revenue: $441,822
- Gross Receipts: $933,235
Assets and Liabilities:
- Total Assets: $160,387
- Total Liabilities: $339,507
- Net Assets: -$179,120
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Organization Details
Founding Year
2004
Phone
(617) 236-4855Principal Officer
Scott Cassel
Main Address
One Beacon Street Suite 1500, Boston, MA, 02108
Website
www.productstewardship.us/NTEE Category
Code: S05 - Community improvement
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