HEAT EXCHANGE INSTITUTE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1942

Legal Domicile

Principal Officer

RANGA NADIG

Phone

2162417333

Tax Period

2023-01-01 to 2023-12-31

HEAT EXCHANGE INSTITUTE INC, founded in 1942, is a small nonprofit that reported $191K in total revenue in fiscal year 2023.

Mission

TO PROMOTE AND FURTHER THE INTEREST OF MANUFACTURERS OF HEAT EXCHANGE AND VACUUM APPARATUS AND THE INTERESTS OF THE PUBLIC IN MANUFACTURING, ENGINEERING, SAFETY, TRANSPORTATION AND OTHER ITEMS OF INTEREST IN THE INDUSTRY.

Program Service Accomplishments

Program 1

MEETINGS: TECHNICAL COMMITTEE MEETINGS ARE WHERE STANDARDS AND TECHNICAL STATISTICS ARE DEVELOPED. INSTITUTE MEETINGS BRING EXECUTIVES TOGETHER TO REVIEW TECHNICAL DATA AND DISCUSS INDUSTRY ISSUES...

MEETINGS: TECHNICAL COMMITTEE MEETINGS ARE WHERE STANDARDS AND TECHNICAL STATISTICS ARE DEVELOPED. INSTITUTE MEETINGS BRING EXECUTIVES TOGETHER TO REVIEW TECHNICAL DATA AND DISCUSS INDUSTRY ISSUES FACING THE POWER GENERATION INDUSTRY. THIS FURTHERS THE EXEMPT PURPOSE TO PROMOTE AND FURTHER THE INTERESTS OF THE MANUFACTURERS IN THE INDUSTRY AND THE INTERESTS OF THE PUBLIC.

Program 2

WEBSITE: THE WEBSITE ALLOWS ANYONE TO BUY HEAT EXCHANGE STANDARDS, OBTAIN TECHNICAL SHEETS AND EDUCATION MATERIAL AND PROMOTE THE MEMBERS COMPANIES AND INDUSTRIES THEY SERVE. THIS FURTHERS THE EXEMPT PURPOSE TO PROMOTE AND FURTHER THE INTERESTS OF THE MANUFACTURERS IN THE INDUSTRY AND THE INTERESTS OF THE PUBLIC.

Program 3

PUBLICATIONS: THE PUBLICATIONS ARE THE INDUSTRY'S LEADING STANDARDS FOR DESIGN AND PERFORMANCE OF EQUIPMENT IN THE POWER GENERATION INDUSTRY. THIS FURTHERS THE EXEMPT PURPOSE TO PROMOTE AND FURTHER...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $124,000

Program Service Revenue $10,025

Investment Income $582

Other Revenue $56,124

TOTAL REVENUE $190,731

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $204,585

TOTAL EXPENSES $204,585

Year-over-Year Comparison

	2023	2022	Change
Revenue	$190,731	$184,332	+0.0%
Expenses	$204,585	$233,690	-0.1%
Net Income	$-13,854	$-49,358	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AKHILESH BAPAT	DIRECTOR	0.50	Director	$0	$0	$0
CRAIG BRUCKER	DIRECTOR	0.50	Director	$0	$0	$0
FRANK COSKEY	DIRECTOR	0.50	Director	$0	$0	$0
GEOFF GREENBERG	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
ANDREAS KOBUS	DIRECTOR	0.50	Director	$0	$0	$0
MIKE KOONTZ	DIRECTOR	0.50	Director	$0	$0	$0
THOMAS MULDOON	DIRECTOR	0.50	Director	$0	$0	$0
RANGA NADIG	PRESIDENT	0.50	Officer Director	$0	$0	$0
ROB PETRICK	DIRECTOR	0.50	Director	$0	$0	$0
GORDON RASMUSSEN	DIRECTOR	0.50	Director	$0	$0	$0
PHILIP REYNOLDS	DIRECTOR	0.50	Director	$0	$0	$0
CHERYL SHOEMAKER	DIRECTOR	0.50	Director	$0	$0	$0
DOUG STINSON	DIRECTOR	0.50	Director	$0	$0	$0
RALPH WYNDRUM	DIRECTOR	0.50	Director	$0	$0	$0
JAKE YOUNG	DIRECTOR	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$190,731	$204,585	$103,844	$-13,854
2022	$184,332	$233,690	$133,438	$-49,358
2021	$181,282	$221,422	$262,052	$-40,140
2020	$188,671	$182,633	$268,813	$6,038
2019	$242,505	$242,159	$253,932	$346
2018	$265,339	$233,967	$256,238	$31,372