irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $1.13MFEDERAL FELLOWS AND GLOBAL DEVELOPMENT: AS PART OF A CONTINUED EFFORT TO HELP ENGINEERS PLAY CRITICAL ROLES AS ADVISORS, RESEARCHERS, AND TEACHERS, THE ASME FOUNDATION, INC. SUPPORTED 10 FELLOWSHIPS. INCLUDED ARE: GRADUATE TEACHING FELLOWS WHO ARE OUTSTANDING DOCTORAL CANDIDATES IN MECHANICAL ENGINEERING EDUCATION, AND FEDERAL FELLOWS WHO SERVED IN EXECUTIVE AND LEGISLATIVE BRANCHES OF THE FEDERAL GOVERNMENT AND ADVISE ON ENERGY, MANUFACTURING, INFRASTRUCTURE, AND TECHNOLOGY.
- #2 $1.36MSTEM: IN ORDER TO SPARK A PASSION FOR STEM IN YOUTH, PROVIDING STUDENTS WITH A DYNAMIC LOOK AT THE WORLD OF ENGINEERING INNOVATION IS A CRITICAL FIRST STEP TO A REWARDING, FULLFILLING CAREER IN THE FIELD. THE ASME FOUNDATION, INC. SUPPORTS INITIATIVES IN K-12 SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM); UNIVERSITY STUDENT & EARLY CAREER DEVELOPMENT; INCLUDING INSPIRE. INSPIRE IS A UNIQUE DIGITAL PLATFORM THAT UTILIZES DIGITAL TOOLS LIKE GAMING AND VIRTUAL SIMULATIONS TO TEACH CRITICAL, CAREER-FOCUSED TECHNOLOGY AND CODING SKILLS WHILE EXPOSING STUDENTS TO STEM OPPORTUNITIES THAT THEY MIGHT NEVER HAVE DREAMED WERE WITHIN THEIR REACH. DURING ITS ELEVENTH YEAR, THE ASME'S FOUNDATION'S K-12 PROGRAMS WERE AVAILABLE TO SCHOOLS IN ALL 50 STATES, REACHING A TOTAL OF 50,000 STUDENTS NATIONWIDE.
named programs · 8 · from sources
What they call their work
ASME E-Fests® and ASME EFx®
Global engineering festivals for college students featuring design competitions, skill-building workshops, and networking with industry professionals
ASME Scholarships
Financial aid program to reduce barriers for students pursuing engineering careers
Community College Engineering Pathways (CCEP)
Initiative creating alternative pathways to technical careers by aligning community college curricula with industry needs
Engineering for Change (E4C) Fellowships
5-month workforce development program for early-career engineers and students to work on sustainable development projects with industry partners
Federal Fellows
Supports doctoral candidates and early-career engineers serving in federal government branches to advise on energy, manufacturing, infrastructure, and technology policy
Honors & Awards
Recognition program for outstanding engineering achievements and contributions to the development of future engineers
ISHOW/IDEA LAB
Global hardware accelerator providing equity-free grants and engineering review to social entrepreneurs solving critical quality-of-life challenges
Transforming Engineering Education
Program supporting mechanical engineering educators through conferences and curriculum alignment with industry needs via ABET accreditation
activities · 11 groups
What they do
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Impact Investing Knowledge & Technology Platforms 2 activities
- Operating Engineering for Change as a knowledge and networking hubRuns Engineering for Change (E4C) as a global digital platform engaging over 68,000 members in knowledge sharing, advisory services, and access to the E4C Solutions Library to advance sustainable development through engineering.
- Supporting engineering innovation aligned with Sustainable Development GoalsEngages engineers in developing hardware and technical solutions that address global challenges and advance the United Nations Sustainable Development Goals through innovation programs and impact projects.
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Recognition and Awards Programs 1 activity
- Administering honors and awards programs for engineersRecognizes and motivates excellence in engineering by administering over 100 endowed honors and awards annually to outstanding engineers and emerging leaders for technical contributions and mentorship.
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Industry-Specific Student Scholarships and Competitions 1 activity
- Administering scholarships for engineering studentsProvides financial scholarships to reduce barriers for students, particularly those from underrepresented or historically underserved backgrounds, pursuing engineering education and careers.
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Educator Conferences & Professional Development Events 1 activity
- Advancing mechanical engineering education through summits and digital platformsOrganizes the Mechanical Engineering Education (MEEd) Summit and operates the Mechanical Engineering Department Heads (MEDH) digital platform to connect educators, share best practices, and align curricula with industry needs.
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STEM Competition and Robotics Programs 1 activity
- Organizing E-Fests and EFx events for engineering studentsHosts annual global and regional engineering festivals (E-Fests and EFx) featuring competitions, workshops, and networking events that engage thousands of college students in engineering innovation and professional development.
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Student Career Readiness and Internship Placement 1 activity
- Providing E4C fellowships for sustainable development projectsOffers competitive fellowships to early-career engineers and students for a 5-month workforce development program focused on sustainable development, including impact projects in collaboration with academic, nonprofit, and government partners.
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Hands-On STEM Education Programs 1 activity
- Providing K-12 STEM education access through ASME INSPIREDelivers digital STEM education programs, including ASME INSPIRE, to over 100,000 K-12 students across more than 1,300 schools in all 50 states to inspire interest in engineering and technical careers.
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Startup Acceleration & Business Growth Support 1 activity
- Running ISHOW/IDEA LAB as a hardware innovation acceleratorOperates ISHOW and IDEA LAB as global hardware accelerators that provide equity-free seed grants, design services, and expert reviews to social entrepreneurs, supporting over 273 startups across more than 35 countries in developing hardware innovations for underserved communities.
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Career and Technical Education Programs 1 activity
- Supporting community college pathways into engineering careersImplements the Community College Engineering Pathways (CCEP) initiative to expand access to technical engineering careers by aligning curricula with industry needs, building employer networks, and supporting student transitions from community colleges to STEM fields.
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Professional Certification and Continuing Education 1 activity
- Training program evaluators for engineering education accreditationPartners with ABET to select and train program evaluators for mechanical engineering programs globally, supporting quality assurance and continuous improvement in engineering education.
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Uncategorized 1 activity
- Placing engineering fellows in federal and global development rolesPlaces early-career engineers and doctoral candidates as fellows in federal policymaking roles (Congress, White House, federal agencies) and in global development, academia, and public policy positions to provide technical expertise and support sustainable development.
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financials · form 990 · fy2024
revenue
Total revenue$5.19M
Contributions & grants$3.79M73%
Program service revenue$00%
Investment income$1.29M25%
Other revenue$107K
expenses
Total expenses$3.78M
Program expenses98%
Admin / overhead2%
Fundraising0%
Salaries & benefits$1.38M
Grants paid out$2.03M
Largest expense lineCompensation
balance sheet
Total assets$42.19M
Cash$1.97M
Investments$39.39M
Liabilities$2.33M
Net assets$39.86M
Liquid reserves131.3 mo
6 years on record · 2019–2024 · YoY revenue -16.2%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 5
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| THOMAS COSTABILE | DIRECTOR, EX-OFFICIO | 3 | $2.09M |
| THOMAS MEEHAN | TREASURER | 3 | $507K |
| ANAND SETHUPATHY | FORMER INTERIM EXECUTIVE DIRECTOR | 0 | $499K |
| STEPHANIE VIOLA | EXECUTIVE DIRECTOR | 3 | $391K |
| GRETCHEN CRUTCHFIELD | SECRETARY | 3 | $162K |
board members · 4
- COLUMBIA MISHRA — DIRECTOR
- KAREN OHLAND — DIRECTOR
- OSCAR BARTON — DIRECTOR
- SONYA SMITH — CHAIR
relationships · 14
Who they work with
- ASME Network — ASME Foundation is affiliated with ASME and supports its broader mission.
- ASME Network — ASME Foundation operates ASME E-Fests and EFx as part of the broader ASME organization's educational initiatives.
- ASME Network — Member of the ASME professional society network
- Accreditation Board for Engineering and Technology Partner — Partners with ABET to select and train program evaluators for mechanical engineering programs globally.
- Engineering for Change Network — Hosts and publishes E4C Fellowship Impact Projects on its global digital platform.
- Engineering for Change Partner — Operates Engineering for Change as a knowledge and networking hub for social entrepreneurs.
- Federal agencies Government — Hosts ASME Federal Fellows to advise on technical policy matters
- ISHOW Network — THE ASME FOUNDATION INC operates the ISHOW international accelerator as part of its innovation network.
- SpaceX Partner — Organization led by Gwynne Shotwell, recipient of the ASME Ralph Coats Roe Medal.
- U.S. Congress Government — Hosts ASME Federal Fellows to advise on technical policy matters
- United Nations Government — Aligns engineering innovation programs with the Sustainable Development Goals.
- United Nations Government — Aligns fellowship projects with the Sustainable Development Goals.
- Valencia College Partner — Collaborates with Valencia College through the CCEP program, including faculty leadership on the Faculty Advisory Committee.
- White House Government — Hosts ASME Federal Fellows to advise on technical policy matters
strategies · 5
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Aligning Education and Innovation with Workforce and Global Needsmethodology: curriculum-market_alignmentBy aligning engineering curricula and innovation pipelines with industry demands and the UN Sustainable Development Goals, the ASME Foundation improves student readiness and drives impactful technical solutions, because curricula informed by market and societal needs produce more relevant, employable, and innovative engineers.
- Cross-Sector Collaboration to Strengthen Engineering Pathwaysmethodology: cross-sector_collaborationBy fostering partnerships among industry, academia, government, and NGOs, the ASME Foundation enhances access to engineering careers—especially for underrepresented groups—because coordinated ecosystems improve resource sharing, expand opportunities, and better align training with real-world needs.
- Equity-Driven Support for Underrepresented Engineersmethodology: diversity_through_scholarshipsBy providing scholarships and targeted resources to women and underserved students, the ASME Foundation increases diversity in engineering, because financial and professional support removes systemic barriers and enables broader participation in the technical workforce.
- Experiential Learning to Build Engineering Capacitymethodology: experiential_learningBy combining hands-on projects, competitions, and real-world problem solving with professional development, the ASME Foundation increases student engagement and prepares future engineers for technical careers, because experiential methods deepen learning and motivation more than traditional instruction alone.
- Hardware Innovation Acceleration for Sustainable Developmentmethodology: hardware-acceleration-modelBy providing equity-free funding, expert review, and engineering support to hardware-led social innovators, the ASME Foundation accelerates the development and deployment of solutions for global challenges, because early-stage technical ventures require targeted, non-dilutive support to reach market readiness.