HOBART INSTITUTE OF WELDING TECHNOLOGY

EIN: 316032186 501(c)(3)

TROY, OH

Total Revenue
$9,881,312
Total Expenses
$9,060,338
Total Assets
$28,515,669
Net Assets
$26,718,495
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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
1930
Legal Domicile
OH
Principal Officer
TOM FUNDERBURG
Phone
8003329448
Tax Period
2024-01-01 to 2024-12-31

HOBART INSTITUTE OF WELDING TECHNOLOGY, founded in 1930, is a community nonprofit that reported $9.9M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $9.1M left a modest 8% surplus.

Mission

POST SECONDARY EDUCATION AND JOB TRAINING

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $22,000
Program Service Revenue $8,579,740
Investment Income $438,644
Other Revenue $840,928
TOTAL REVENUE $9,881,312

Expense Breakdown

Grants Paid $55,645
Salaries & Benefits $5,012,616
Fundraising Expenses $0
Program Expenses $7,081,217
Other Expenses $3,992,077
TOTAL EXPENSES $9,060,338

Year-over-Year Comparison

2024 2023 Change
Revenue $9,881,312 $10,693,427 -0.1%
Expenses $9,060,338 $9,397,301 0.0%
Net Income $820,974 $1,296,126 -0.4%
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

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Governance

Voting Members
5
Independent Members
5
Employees
59
Volunteers
7

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
3
$391,167
Total Directors
10
$391,167
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOM FUNDERBURG PRESIDENT 45.00
Officer Director
$148,269 $0 $148,269
CHARLES CARPENTER VICE PRESIDENT 45.00
Officer Director
$123,149 $25,015 $148,164
TRACY BRAGG TREASURER/DIRECTOR OF FINANCE (THRU OCT) 45.00
Officer Director
$86,046 $8,688 $94,734
CHARLIE RIBARDO DIRECTOR 1.00
Director
$0 $0 $0
KEVIN GARMAN DIRECTOR (THRU NOV) 1.00
Director
$0 $0 $0
SAM BROWN DIRECTOR 1.00
Director
$0 $0 $0
STEVE STAUB DIRECTOR 1.00
Director
$0 $0 $0
JOE REDDING DIRECTOR (THRU NOV) 1.00
Director
$0 $0 $0
RICHARD CULTICE DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL TECKLENBURG DIRECTOR (STARTING IN MAY) 1.00
Director
$0 $0 $0
CHAD SCHMELZER DIRECTOR OF CORP SERVICES 45.00
Highest
$121,635 $4,273 $125,908
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 $9,881,312 $9,060,338 $28,515,669 $820,974
2023 $10,693,427 $9,397,301 $26,345,317 $1,296,126
2022 $10,377,174 $9,112,806 $24,037,388 $1,264,368
2021 $11,075,973 $8,874,089 $24,538,964 $2,201,884
2020 $8,624,823 $7,570,926 $21,990,854 $1,053,897
2019 $8,478,863 $7,831,548 $22,087,946 $647,315
2018 $9,278,938 $8,462,246 $21,413,179 $816,692
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