United States Cutting Tool Institute
EIN: 341568258 · Cleveland, OH
| Metric | Value |
|---|---|
| Total Revenue | $607K |
| Total Expenses | $685K |
| Net Assets | $881K |
Is United States Cutting Tool Institute Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About United States Cutting Tool Institute
United States Cutting Tool Institute (EIN: 341568258) is a nonprofit organization based in Cleveland, OH. The organization reported total revenue of $607K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of United States Cutting Tool Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
United States Cutting Tool Institute is a small nonprofit that has been operating for 37 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $722K |
| Total Expenses | $685K |
| Surplus / Deficit | +$38K |
| Total Assets | $1.0M |
| Total Liabilities | $128K |
| Net Assets | $881K |
| Operating Margin | 5.2% |
| Debt-to-Asset Ratio | 12.7% |
| Months of Reserves | 17.7 months |
Financial Health Grade: A
In 2023, United States Cutting Tool Institute reported a surplus of $38K with revenue exceeding expenses, holds 17.7 months of operating reserves (strong position), has a debt-to-asset ratio of 12.7% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), United States Cutting Tool Institute's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.7% | +1.9% | -4.9% |
| 2022 | +27.1% | +13.0% | +9.8% |
| 2021 | +21.9% | +67.7% | +2.3% |
| 2020 | -31.4% | -41.1% | +17.8% |
| 2019 | -5.9% | -1.9% | +6.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for United States Cutting Tool Institute has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates United States Cutting Tool Institute with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $38K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.7%.
Frequently Asked Questions about United States Cutting Tool Institute
Is United States Cutting Tool Institute a legitimate charity?
United States Cutting Tool Institute (EIN: 341568258) is a registered tax-exempt nonprofit based in Ohio. It has 14 years of IRS 990 filings on record. Total revenue: $607K. No red flags identified. Financial health grade: A.
How does United States Cutting Tool Institute spend its money?
United States Cutting Tool Institute reported $607K in total revenue in IRS 990 filings. 14 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to United States Cutting Tool Institute tax-deductible?
United States Cutting Tool Institute is registered as a tax-exempt nonprofit (EIN: 341568258). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is United States Cutting Tool Institute located?
United States Cutting Tool Institute is headquartered in Cleveland, Ohio and files with the IRS under EIN 341568258.
How many years of IRS 990 filings does United States Cutting Tool Institute have?
United States Cutting Tool Institute has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $607K in total revenue.
Filing History
IRS 990 filing history for United States Cutting Tool Institute showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), United States Cutting Tool Institute's revenue has grown by 48.8%, moving from $485K to $722K. Total assets increased by 413.1% over the same period, from $197K to $1.0M. Total functional expenses rose by 47.6%, from $464K to $685K. In its most recent filing year (2023), United States Cutting Tool Institute reported a surplus of $38K, with revenue exceeding expenses. The organization holds $128K in liabilities against $1.0M in assets (debt-to-asset ratio: 12.7%), resulting in net assets of $881K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $722K | $685K | $1.0M | $128K | — | — |
| 2022 | $711K | $672K | $1.1M | $217K | — | View 990 |
| 2021 | $559K | $594K | $965K | $161K | — | View 990 |
| 2020 | $459K | $354K | $944K | $104K | — | View 990 |
| 2019 | $669K | $602K | $801K | $66K | — | — |
| 2018 | $711K | $614K | $752K | $83K | — | View 990 |
| 2017 | $697K | $569K | $650K | $79K | — | View 990 |
| 2016 | $836K | $768K | $543K | $99K | — | View 990 |
| 2015 | $645K | $562K | $460K | $85K | — | View 990 |
| 2014 | $646K | $620K | $406K | $114K | — | View 990 |
| 2013 | $482K | $424K | $329K | $63K | — | View 990 |
| 2012 | $603K | $570K | $306K | $97K | — | View 990 |
| 2011 | $417K | $417K | $205K | $30K | — | View 990 |
| 2010 | $485K | $464K | $197K | $21K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $722K, expenses of $685K, and assets of $1.0M (revenue +1.7% year-over-year).
- 2022: Revenue of $711K, expenses of $672K, and assets of $1.1M (revenue +27.1% year-over-year).
- 2021: Revenue of $559K, expenses of $594K, and assets of $965K (revenue +21.9% year-over-year).
- 2020: Revenue of $459K, expenses of $354K, and assets of $944K (revenue -31.4% year-over-year).
- 2019: Revenue of $669K, expenses of $602K, and assets of $801K (revenue -5.9% year-over-year).
- 2018: Revenue of $711K, expenses of $614K, and assets of $752K (revenue +2.0% year-over-year).
- 2017: Revenue of $697K, expenses of $569K, and assets of $650K (revenue -16.6% year-over-year).
- 2016: Revenue of $836K, expenses of $768K, and assets of $543K (revenue +29.5% year-over-year).
- 2015: Revenue of $645K, expenses of $562K, and assets of $460K (revenue -0.1% year-over-year).
- 2014: Revenue of $646K, expenses of $620K, and assets of $406K (revenue +34.0% year-over-year).
- 2013: Revenue of $482K, expenses of $424K, and assets of $329K (revenue -20.1% year-over-year).
- 2012: Revenue of $603K, expenses of $570K, and assets of $306K (revenue +44.7% year-over-year).
- 2011: Revenue of $417K, expenses of $417K, and assets of $205K (revenue -14.1% year-over-year).
- 2010: Revenue of $485K, expenses of $464K, and assets of $197K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for United States Cutting Tool Institute:
Data Sources and Methodology
This transparency report for United States Cutting Tool Institute is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.