INDUSTRIAL HEATING EQUIPMENT ASSOC… - Form 990 Financial Data

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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

1929

Legal Domicile

Principal Officer

ANNE GOYER

Phone

9413731830

Tax Period

2024-01-01 to 2024-12-31

INDUSTRIAL HEATING EQUIPMENT ASSOCIATION, founded in 1929, is a small nonprofit that reported $359K in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum.

Mission

THE INDUSTRIAL HEATING EQUIPMENT ASSOCIATION (IHEA) IS A VOLUNTARY NATIONAL TRADE ASSOCIATION REPRESENTING THE MAJOR SEGMENTS OF THE INDUSTRIAL HEAT PROCESSING EQUIPMENT INDUSTRY. ESTABLISHED IN 1929 TO MEET THE NEED FOR EFFECTIVE GROUP ACTION IN PROMOTING THE INTERESTS OF

Program Service Accomplishments

Program 1

ANNUAL MEETING - BROUGHT TOGETHER MEMBERSHIP FOR EDUCATIONAL SESSIONS AND EXCHANGE OF IDEAS AMONG MEMBER COMPANIES.

Program 2

SEMINARS - BROUGHT TOGETHER PARTICIPANTS FOR EDUCATIONAL SESSIONS ON TOPICS DEALING WITH INDUSTRIAL HEAT PROCESSING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $9,700

Program Service Revenue $348,908

Investment Income $0

Other Revenue $0

TOTAL REVENUE $358,608

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $373,875

TOTAL EXPENSES $373,875

Year-over-Year Comparison

	2024	2023	Change
Revenue	$358,608	$274,298	+0.3%
Expenses	$373,875	$297,806	+0.3%
Net Income	$-15,267	$-23,508	-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

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
JEFF RAFTER	PRESIDENT	5.00	Officer Director	$0	$0	$0
GARY BERWICK	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JASON SAFARZ	SECRETARY/ TREASURER	5.00	Officer Director	$0	$0	$0
JEFF VALUCK	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
BEN GASBARRE	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN KELLY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PODACH	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT BISHOP	DIRECTOR	1.00	Director	$0	$0	$0
DOUG GLENN	DIRECTOR	1.00	Director	$0	$0	$0
HELEN TUTTLE	DIRECTOR	1.00	Director	$0	$0	$0
BOB FINCKEN	DIRECTOR	1.00	Director	$0	$0	$0
ANNE GOYER	EXEC. VICE PRESIDENT (SEE SCHED. O)	15.00	Officer	$0	$0	$0
ANDREW GOYER	CHIEF OPER. OFFICER (SEE SCHED. O)	15.00	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	$358,608	$373,875	$34,864	$-15,267
2023	$274,298	$297,806	$45,616	$-23,508
2022	$294,514	$292,263	$45,565	$2,251
2021	$279,524	$273,613	$125,692	$5,911
2020	$221,788	$205,907	$106,013	$15,881
2019	$335,309	$290,454	$83,793	$44,855
2018	$349,063	$432,434	$42,853	$-83,371

INDUSTRIAL HEATING EQUIPMENT ASSOCIATION