NEW HORIZONS FOUNDATION - A SHEET METAL INDUSTRY INITIATIVE

EIN: 411998303 501(c)(3) Education

CHANTILLY, VA

Total Revenue
$455,931
Total Expenses
$278,270
Total Assets
$5,400,204
Net Assets
$5,379,133
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
VA
Principal Officer
THOMAS J SOLES
Phone
7038032980
Tax Period
2023-01-01 to 2023-12-31

NEW HORIZONS FOUNDATION - A SHEET METAL INDUSTRY INITIATIVE, founded in 2001, is a small nonprofit in the Education sector that reported $456K in total revenue in fiscal year 2023. Revenue surged 79% from the prior year, signaling strong growth momentum. The organization ran a surplus of $178K, a strong 39% operating margin.

Mission

THE FOUNDATION'S PURPOSE IS TO PROVIDE RESEARCH THAT WILL GIVE HVAC AND SHEET METAL CONTRACTORS A COMPETITIVE EDGE.

Program Service Accomplishments

Program 1
Expenses: $26,250

PERFORMANCE MEASUREMENT - A GUIDE TO DEVELOPING YOUR MEASURES OF SUCCESS - THE PURPOSE OF ADOPTING PERFORMANCE MEASURES AND IMPROVEMENT EFFORTS IS TO ALLOW LEADERSHIP TO "SEE" WORK THEY ARE NOT...

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PERFORMANCE MEASUREMENT - A GUIDE TO DEVELOPING YOUR MEASURES OF SUCCESS - THE PURPOSE OF ADOPTING PERFORMANCE MEASURES AND IMPROVEMENT EFFORTS IS TO ALLOW LEADERSHIP TO "SEE" WORK THEY ARE NOT DIRECTLY ENGAGED IN RUNNING. WHETHER THEY ARE CALLED KEY PERFORMANCE MEASURES, INDICATORS, OR OTHER TERMS, EFFECTIVE MEASURES TO TRACK PERFORMANCE ENABLE IMPROVEMENT INITIATIVES, EARLY WARNING OF PROBLEMS, RESOURCE OPTIMIZATION, AND DATA DRIVEN DECISION MAKING. THIS PROJECT WILL PRODUCE A GUIDE TO SUPPORT SHEET METAL AND HVAC CONTRACTORS IN ORGANIZING THEIR PERFORMANCE MEASUREMENT SYSTEM. THE PROJECT HAS BEEN AWARDED TO PENN STATE WITH COMPLETION AND PUBLICATION OF THE GUIDE BY YEAR END 2024.

Program 2
Expenses: $90,110

WORKFORCE DEVELOPMENT BEST PRACTICES IDENTIFICATION, COMMUNICATION AND TRAINING - THIS MULTI-YEAR PROJECT SEEKS TO IDENTIFY SUCCESSFUL STRATEGIES USED TO HIRE, DEVELOP AND RETAIN EMPLOYEES IN SHEET...

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WORKFORCE DEVELOPMENT BEST PRACTICES IDENTIFICATION, COMMUNICATION AND TRAINING - THIS MULTI-YEAR PROJECT SEEKS TO IDENTIFY SUCCESSFUL STRATEGIES USED TO HIRE, DEVELOP AND RETAIN EMPLOYEES IN SHEET METAL, HVAC, AND MECHANICAL CONSTRUCTION COMPANIES. IN THE FIRST PHASE OF THIS PROJECT, WHICH WAS INITIATED IN DECEMBER 2022, THE NEW HORIZONS FOUNDATION INVESTIGATED AND REPORTED ON THE FOLLOWING CURRENT ISSUES IN WORKFORCE DEVELOPMENT. 1. INVESTIGATED WHAT YOUNG WORKERS WANT AND NEED IN THEIR CAREERS. 2. EXPLORED CHARACTERISTICS UNIQUE TO THE NEXT GENERATION OF WORKERS. 3. EXAMINED WHAT THE YOUNGER GENERATION EXPECTS FROM THEIR JOBS. 4. ASSESSED DIVERSITY, EQUITY, AND INCLUSION PRACTICES IN LOCAL AREAS. THE NHF IDENTIFIED, MET WITH AND PROFILED 28 WORKFORCE DEVELOPMENT ORGANIZATIONS (WDOS) TO UNDERSTAND THEIR OBJECTIVES, CONTENT, DELIVERY METHODS, HISTORY AND RESULTS, ESPECIALLY AS THEY IMPACT THE ABOVE ISSUES. IN THE CURRENT SECOND PHASE OF THIS PROJECT, THE FOUNDATION IS HIGHLIGHTING THE TOP 25% OF WDOS THROUGH FACILITATED PODCASTS. TWO OF THE SEVEN RECORDINGS HAVE BEEN COMPLETED AND ARE BEING EDITED FOR RELEASE IN JULY. THE REMAINING FIVE PODCASTS ARE SCHEDULED FOR COMPLETION BY THE 3RD QUARTER 2024. THESE WDOS FOCUS ON BRINGING UNDER-REPRESENTED GROUPS (WOMEN AND MINORITIES) INTO BUILDING TRADES AND THEIR SUCCESSES (AND STRUGGLES) ARE FEATURED IN THE PODCASTS. A THIRD PROJECT PHASE IS UNDERWAY WITH THE FOLLOWING OBJECTIVES IDENTIFIED. 1. CURATE THE CAPTURED WDOS CONTENT INTO CONCISE INFOGRAPHICS. 2. FOCUS ON LEADERSHIP DEVELOPMENT FOR TRADE AND NON-TRADE HIRES AND PRODUCE SHORT VIDEOS TO SHOWCASE SUCCESSFUL PRACTICES (MENTORING, SHADOWING, AND ONBOARDING). 3. DEVELOP A ROADMAP/TEMPLATE FOR IMPLEMENTATION BY CONTRACTORS AND LOCAL ASSOCIATIONS (SMACNA CHAPTERS). 4. CONTINUE INDUSTRY PRESENTATIONS ON PROJECT FINDINGS AND CONTINUE TO EXPAND SUCCESSFUL WDO CONTACTS AND RELATIONSHIPS. 5. DEVELOP A WDO MEDIA SITE ON THE NHF WEBSITE AND CONTINUE WORK TO IMPROVE THE SEARCH ENGINE PRESENCE AND FUNCTIONALITY OF THE NHF WEBSITE, PARTICULARLY AS IT RELATES TO WORKFORCE DEVELOPMENT ISSUES AND INTERESTS.

Program 3
Expenses: $74,625

A SERIES OF 7 PODCASTS BETWEEN A SMACNA CONTRACTOR AND A CUSTOMER - THE FOUNDATION HAS COMMISSIONED ERIC ANDERTON TO FACILITATE A SERIES OF SEVEN PODCASTS BETWEEN A SMACNA CONTRACTOR AND CUSTOMER...

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A SERIES OF 7 PODCASTS BETWEEN A SMACNA CONTRACTOR AND A CUSTOMER - THE FOUNDATION HAS COMMISSIONED ERIC ANDERTON TO FACILITATE A SERIES OF SEVEN PODCASTS BETWEEN A SMACNA CONTRACTOR AND CUSTOMER EXAMINING HOW SUCCESSFUL PARTNERSHIPS THROUGH STRATEGIC ALIGNMENT FACILITATES COMMUNICATIONS, PROBLEM SOLVING, OVERCOMING POTENTIAL CONFLICTS AND ENHANCES WORK DEVELOPMENT. FOUR OF THE SEVEN PODCASTS HAVE BEEN RELEASED TO MEMBERS AND THE FINAL THREE WILL BE COMPLETED BY THE END OF THE THIRD QUARTER 2024.

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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 (2023)

Revenue Breakdown

Contributions & Grants $327,474
Program Service Revenue $1,456
Investment Income $127,001
Other Revenue $0
TOTAL REVENUE $455,931

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $205,941
Other Expenses $278,270
TOTAL EXPENSES $278,270

Year-over-Year Comparison

2023 2022 Change
Revenue $455,931 $254,709 +0.8%
Expenses $278,270 $233,689 +0.2%
Net Income $177,661 $21,020 +7.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
14
Employees
N/A
Volunteers
288

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
$0
Total Directors
14
$535,478
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GUY M GAST CHAIR 1.00
Officer Director
$0 $0 $0
ANGELA SIMON VICE CHAIR 1.00
Officer Director
$0 $0 $0
RON RODGERS CHAIR EMERITUS 1.00
Director
$0 $0 $0
CHAD BUNTING DIRECTOR 1.00
Director
$0 $0 $0
CAROL DUNCAN DIRECTOR 1.00
Director
$0 $0 $0
KEVIN R GILL JR DIRECTOR 1.00
Director
$0 $0 $0
AARON HILGER DIRECTOR 2.00
Director
$0 $59,135 $535,478
TODD HILL DIRECTOR 1.00
Director
$0 $0 $0
ANTHONY KOCUREK DIRECTOR 1.00
Director
$0 $0 $0
CARMEN KOO DIRECTOR 1.00
Director
$0 $0 $0
TOM MARTIN DIRECTOR 1.00
Director
$0 $0 $0
ERNIE P MENOLD DIRECTOR 1.00
Director
$0 $0 $0
JULIE A MULLER ESQ DIRECTOR 1.00
Director
$0 $0 $0
SCOTT VIDIMOS DIRECTOR 1.00
Director
$0 $0 $0
THOMAS J SOLES EXECUTIVE DIRECTOR 5.00
Officer
$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 $455,931 $278,270 $5,400,204 $177,661
2022 $254,709 $233,689 $4,793,801 $21,020
2021 $248,223 $280,839 $5,594,199 $-32,616
2020 $189,757 $227,253 $4,972,773 $-37,496
2019 $196,900 $321,812 $4,564,212 $-124,912
2018 $227,019 $211,097 $4,068,219 $15,922
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