Overview
What is Industrial Technology Institute?
The Industrial Technology Institute, also known as Michigan Manufacturing Technology Center (MMTC), is a Michigan-based nonprofit organization dedicated to enhancing the global competitiveness of small to medium-sized manufacturers. With support from the US Department of Commerce, NIST Manufacturing Extension Partnership (MEP), and the Michigan Economic Development Corporation (MEDC), MMTC operates the Michigan MEP Center. Their projects primarily focus on quality, lean manufacturing, six sigma, cyber security services, Industry 4.0, research services, leadership, environmental, food, diversity, and growth services. In 2022, clients reported that their MMTC projects led to $148.2 million in created sales, $603.5 million in retained sales, 7,607 jobs created and retained, $622.5 million in new investments, and $83.8 million in cost savings. MMTC provides research-based training and consulting to manufacturers in Michigan and offers modified versions of its content to manufacturers, service companies, and hospitals in the US, Canada, and beyond.
Official website here: www.the-center.org
What are the reviews and ratings of this charity?
Charity Navigator has rated the Industrial Technology Institute with a Four-Star out of Four Star rating, scoring 96%. This high score reflects the organization’s strong commitment to accountability and finance, which is critical for gaining the trust of donors and stakeholders. The rating is based entirely on the accountability and finance beacon, indicating a robust financial health and transparency.
The Industrial Technology Institute excels with a fully independent board comprising eight members, as well as strong oversight mechanisms like an audit and oversight committee. Their fiscal management is noteworthy, with a program expense ratio of over 80%, showing that a significant portion of their expenses goes directly to programs rather than administrative costs. Additionally, they have comprehensive policies in place, including conflict of interest and whistleblower policies, contributing to their operational integrity.
While the rating suggests a strong performance in governance and financial management, it does not provide insights into their programmatic impact or community engagement. Stakeholders may want to explore these aspects further to gain a complete picture of the organization’s effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Industrial Technology Institute legitimate?
Industrial Technology Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Industrial Technology Institute 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: $556,697
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,802,265
For more financial information, click here
Official website here: www.the-center.org
What is the mission statement of Industrial Technology Institute?
The Industrial Technology Institute is dedicated to enhancing the global competitiveness of small to medium-sized manufacturers. They provide research-based training and consulting in various areas, including quality and environmental management, lean manufacturing, sales, marketing, and cost estimation. With support from the US Department of Commerce, NIST Manufacturing Extension Partnership, and the Michigan Economic Development Corporation, the Institute focuses on projects primarily in quality, lean manufacturing, six sigma, cyber security services, industry 4.0, research services, leadership, environmental, food, diversity, and growth services. The results from third-party post-project surveys in 2022 revealed that their projects contributed to created sales of $148.2 million, retained sales of $603.5 million, job creation and retention of 7,607, new investments of $622.5 million, and cost savings of $83.8 million.
Official website here: www.the-center.org
Who is the CEO of Industrial Technology Institute?
Ingrid Tighe is the Board Member of Industrial Technology Institute. The CEO's salary of Industrial Technology Institute is $137,439 and their total compensation is $137,439.
Official website here: www.the-center.org
What is the revenue of Industrial Technology Institute?
Industrial Technology Institute's revenue in 2022 was $13,199,043.
Official website here: www.the-center.org
Who are the executives of Industrial Technology Institute and what are their salaries?
The average compensation at Industrial Technology Institute during 2022 was $104,245. There are 61 employees and 12 volunteers at Industrial Technology Institute.
Here are 20 key members and their salaries (Industrial Technology Institute's CEO's salary is $137,439 and their total compensation is $137,439):
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- Compensation: $167,348
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- Compensation: $304,345
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- Compensation: $137,439
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- Compensation: $201,244
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- Compensation: $171,195
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- Compensation: $171,918
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- Other: $38,015
- Compensation: $168,590
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- Other: $40,647
Official website here: www.the-center.org
Where can I find the form 990 for Industrial Technology Institute?
Industrial Technology Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.the-center.org
Learn more at the official website: www.the-center.org
Mission Statement of Industrial Technology Institute
The Industrial Technology Institute, a Michigan-based nonprofit organization, is dedicated to enhancing the global competitiveness of small to medium-sized manufacturers. Through its Michigan Manufacturing Technology Center, the Institute provides research-based training and consulting services to these businesses in various subjects such as quality and environmental management, lean manufacturing, sales, marketing, cost estimation, and more.
The Institute's activities extend beyond Michigan's borders, as it uses modified versions of its training and consulting content to work with manufacturers, service companies, and hospitals in the US and Canada. The Institute's projects primarily focus on quality, lean manufacturing, six sigma, cyber security services, industry 4.0, research services, leadership, environmental, food, diversity, and growth services. The impressive results from clients' third-party post-project surveys in 2022 showcased sales of $148.2 million created, $603.5 million retained, 7,607 jobs created and retained, new investments of $622.5 million, and cost savings of $83.8 million. By offering these comprehensive services, the Industrial Technology Institute plays a vital role in helping manufacturers improve their operations and remain competitive in the global market.
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Impact
October, 2024
The Industrial Technology Institute, through its Michigan Manufacturing Technology Center (MMTC), significantly enhances the global competitiveness of small and medium-sized manufacturers in Michigan and beyond. By providing research-based training and consulting services, the Institute equips these manufacturers with critical skills in areas such as quality management, lean manufacturing, and advanced technologies like Industry 4.0.
In 2022, the impact of MMTC's interventions was evident in impressive metrics reported by clients. Projects facilitated by the Institute contributed to the creation of $148.2 million in new sales, the retention of $603.5 million in existing sales, and the creation and retention of 7,607 jobs. Additionally, these initiatives attracted new investments totaling $622.5 million and generated cost savings of $83.8 million.
By working closely with manufacturers, service companies, and hospitals throughout the U.S. and Canada, the Industrial Technology Institute fosters a collaborative environment that promotes sustainable growth, quality improvement, and innovation. Its services are pivotal in addressing the challenges faced by the manufacturing sector, thereby strengthening regional economies and supporting the broader community's economic health.
This information is meant to be a general summary of Industrial Technology Institute. 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: $16,362
- Program Service Revenue: $3,111,349
- Gross Receipts: $13,199,043
Assets and Liabilities:
- Total Assets: $11,116,629
- Total Liabilities: $3,705,282
- Net Assets: $7,411,347
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRAINING & CONSULTING
Revenue
$3,111,349
Organization Details
Founding Year
1981
Phone
(734) 451-4211Principal Officer
Ingrid Tighe
Main Address
45501 HELM STREET, PLYMOUTH, MI, 481702461
Website
www.the-center.orgNTEE Category
Code: S40 - Community improvement
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