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
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

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

THE HOBART INSTITUTE OF WELDING TECHNOLOGY IS A NONPROFIT INSTITUTION DEDICATED TO WELDING TRAINING AND EDUCATION EXCELLENCE. HOBART INSTITUTE IS COMMITTED TO HELPING INDIVIDUALS DEVELOP MARKETABLE WELDING SKILLS THROUGH QUALITY TRAINING AT MINIMUM COST. THE INSTITUTE EDUCATES AND TRAINS INDIVIDUALS IN THE USE AND APPLICATION OF WELDING TECHNOLOGIES; DEVELOPS AND DISSEMINATES WELDING TRAINING AND EDUCATIONAL MATERIALS; AND CONDUCTS CERTIFICATION RESEARCH AND QUALIFICATIONS FOR THE WELDING INDUSTRY. HOBART INSTITUTE STRIVES TO DEVELOP NEW AND BETTER WELDING TRAINING METHODS AND TRAINING MATERIALS AND TO MAKE WELDING TRAINING AVAILABLE TO ALL.

Program Service Accomplishments

Program 1
Expenses: $7,081,217 Revenue: $9,182,918

THE HOBART INSTITUTE OF WELDING TECHNOLOGY IS A NONPROFIT INSTITUTION DEDICATED TO WELDING TRAINING AND EDUCATION EXCELLENCE. HOBART INSTITUTE IS COMMITTED TO HELPING INDIVIDUALS DEVELOP MARKETABLE...

Read more

THE HOBART INSTITUTE OF WELDING TECHNOLOGY IS A NONPROFIT INSTITUTION DEDICATED TO WELDING TRAINING AND EDUCATION EXCELLENCE. HOBART INSTITUTE IS COMMITTED TO HELPING INDIVIDUALS DEVELOP MARKETABLE WELDING SKILLS THROUGH QUALITY TRAINING AT MINIMUM COST. THE INSTITUTE EDUCATES AND TRAINS INDIVIDUALS IN THE USE AND APPLICATION OF WELDING TECHNOLOGIES; DEVELOPS AND DISSEMINATES WELDING TRAINING AND EDUCATIONAL MATERIALS; AND CONDUCTS CERTIFICATION RESEARCH AND QUALIFICATIONS FOR THE WELDING INDUSTRY. HOBART INSTITUTE STRIVES TO DEVELOP NEW AND BETTER WELDING TRAINING METHODS AND TRAINING MATERIALS AND TO MAKE WELDING TRAINING AVAILABLE TO ALL.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

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
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

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
Explore More Nonprofits
→Top 100 Nonprofits in Ohio →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare HOBART INSTITUTE OF WELDING TECHNOLOGY with other nonprofits in Ohio and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.