TIN:
SCHEDULE O
(Form 990)
Department of the Treasury
Internal Revenue Service
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Inspection
Name of the organization
FRACTIONATION RESEARCH INC
Employer identification number
73-0603358
73-0603358
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | BYLAW CHANGES FOR FUTURE EXPANDED TRAINING SERVICES OFFERED TO MEMBERS - ARTICLE VIII, CORPORATE ACTIVITIES SECTION 1. THIS CORPORATION IS FORMED AS A NON-PROFIT CORPORATION TO DEVELOP AND PROMOTE SCIENTIFICALLY THE FRACTIONAL-DISTILLATION-USING INDUSTRY. THE INTENT AND PURPOSE OF THE CORPORATION IS TO CONDUCT ONLY ENGINEERING AND RESEARCH WORK WHICH WILL HAVE GENERAL APPLICATION IN THE INDUSTRY AND WHICH WILL BE OF INTEREST TO THE ENTIRE INDUSTRY. THE CORPORATION SHALL NOT UNDERTAKE ANY SPECIFIC ENGINEERING, TRAINING, CONSULTING OR RESEARCH WORK FOR ANY MEMBER OR ANY NON-MEMBER FOR A FEE, IF ANY SUCH ACTIVITY SHALL JEOPARDIZE THE CORPORATION'S TAX- EXEMPT STATUS UNDER 501(C)(6) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ALSO CERTIFICATE OF INCORPORATION CHANGES - (E) TO DO ALL AND EVERYTHING NECESSARY, SUITABLE AND PROPER FOR THE ACCOMPLISHMENT OF ANY OF THE PURPOSES OR ATTAINMENT OF ANY OF THE OBJECTS OR THE EXERCISE OF ANY OF THE POWERS HEREINABOVE SET FORTH, EITHER ALONE OR IN CONNECTION WITH OTHER FIRMS, INDIVIDUALS OR CORPORATIONS, BOTH IN THIS STATE AND THROUGHOUT THE UNITED STATES AND ELSEWHERE, AND TO DO ANY OTHER ACT OR ACTS, THING OR THINGS, INCIDENTAL OR APPURTENANT TO OR GROWING OUT OF OR CONNECTED WITH THE SAID PURPOSES, OBJECTS OR POWERS, IF NOT INCONSISTENT WITH THE LAWS UNDER WHICH THIS CORPORATION IS ORGANIZED, OR THE LAWS GOVERNING ITS TAX-EXEMPT STATUS UNDER 501(C)(6) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). THE CORPORATION SHALL COMPLY WITH ALL PROVISIONS OF THE CODE NECESSARY TO CONSTITUTE A CORPORATION AS EXEMPT FROM INCOME TAX UNDER 501(C)(6) THE OF THE CODE. IN THE EVENT THE CORPORATION LIQUIDATES, DISSOLVES, OR TERMINATES ITS ACTIVITIES, ALL PROPERTY, INCLUDING MONEY, THEN OWNED BY IT SHALL BE GIVEN TO SOME NON-PROFIT EDUCATIONAL INSTITUTION OR INSTITUTIONS, WHICH IS OR ARE QUALIFIED AS EXEMPT ORGANIZATIONS UNDER SECTION 50L(C) OF THE CODE, TO BE SELECTED BY THE BOARD OF DIRECTORS OF THE CORPORATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE GOVERNING BODY OF FRACTIONATION RESEARCH, INC. IS MADE OF MEMBER COMPANIES. EACH COMPANY HAS EQUAL VOTING RIGHTS. THE MEMBERS DIRECT THE RESEARCH PROGRAM AND OVERSEE THE BUSINESS PART OF THE COMPANY. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH MEMBER MUST ELECT A TECHNICAL REPRESENTATIVE TO SERVE ON TECHNICAL ADVISORY COMMITTEE (TAC). TAC GOVERNS RESEARCH PROGRAM. EACH MEMBER CAN ELECT A DIRECTOR TO SERVE ON BOARD OF DIRECTORS (BOD). BOD GOVERNS BUSINESS FUNCTIONS OF CORPORATION. EACH MEMBER IS ENTITLED TO ONE VOTE AT ANNUAL MEMBERS MEETING. VARIOUS TOPICS ARE DISCUSSED AND VOTED ON AT MEMBERS MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE BOARD OF DIRECTORS APPROVE MINUTES OF ALL MEETINGS, THUS APPROVING ACTIONS TAKEN AT MEETINGS. MEMBERS ELECT THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | EACH YEAR AN OUTSIDE AUDIT FIRM CONDUCTS AN AUDIT OF FRACTIONATION RESEARCH, INC. THE FINAL AUDIT REPORT IS USED TO PREPARE THE 990 FORM. THE AUDIT AND 990 FORM ARE REVIEWED INTERNALLY BY THE PRESIDENT, CORPORATE ADMINISTRATION DIRECTOR, AND FINANCIAL ASSOCIATE. |
| FORM 990, PART VI, SECTION B, LINE 15 | BENCHMARKING FOR ALL JOB DESCRIPTIONS ARE DONE EVERY THREE YEARS. THE EXECUTIVE COMMITTEE APPROVES A SALARY BUDGET EACH YEAR. THE LEADERSHIP TEAM OF FRACTIONATION RESEARCH, INC. (PRESIDENT, CHIF SCIENTIST, TECHNICAL DIRECTOR & CORPORATE ADMINISTRATION DIRECTOR) DISCUSS AND APPROVE ALL RAISES AND COMPENSATION. THE EXECUTIVE COMMITTEE APPROVES RAISES FOR THE PRESIDENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND AUDITED YEAR END FINANCIALS ARE AVAILABLE ON THE WEBSITE. |
| FORM 990, PART I, LINE 1 & PART III, LINE 1 - ORGANIZATION MISSION: | FRI'S PURPOSE IS TO OPERATE WELL-PLANNED EXPERIMENTAL PROGRAMS TO COLLECT LARGE SCALE MASS TRANSFER EQUIPMENT HARDWARE PERFORMANCE DATA WITH INDUSTRIALLY REPRESENTATIVE CHEMICAL SYSTEMS, AND TO REPORT SUCH DATA TO ITS MEMBERS CLEARLY, IN USEFUL FORMATS, AND IN A TIMELY MANNER. THE COLLECTED DATA WILL BE INTERPRETED, ANALYZED, AND PRESENTED PROMPTLY BY CLEAR ORAL PRESENTATION AT MEMBERSHIP MEETINGS, AND IN PROGRESS REPORTS AND TOPICAL REPORTS. ACCURATE PREDICTIVE MATHEMATICAL MODELS WILL BE DEVELOPED AND FURNISHED TO THE MEMBERSHIP AS COMPUTER PROGRAMS AND DESIGN HANDBOOKS, AND IN OTHER APPROPRIATE AND CONVENIENT FORMATS. THE DATA MODELS WILL ENABLE PRACTICING ENGINEERS OF MEMBER COMPANIES TO SELECT AND DESIGN COST EFFECTIVE FRACTIONATION EQUIPMENT WITH A HIGH PROBABILITY OF SUCCESS. FRI'S LARGE SCALE EXPERIMENTAL FACILITY WILL SERVE AS THE PRIMARY INDEPENDENT TEST FORUM FOR NEW TYPES OF FRACTIONATION EQUIPMENT TO VALIDATE CLAIMS OF IMPROVED PERFORMANCE RELATIVE TO ACCEPTED STANDARD EQUIPMENT. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021
Additional Data
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