HEATING PIPING & REFRIGERATION TRAINING FUND

EIN: 530238872 501(c)(3)

LANDOVER, MD

Total Revenue
$17,225,395
Total Expenses
$10,764,118
Total Assets
$51,154,431
Net Assets
$47,750,414
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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
1955
Legal Domicile
MD
Principal Officer
SIDNEY BONILLA
Phone
3013332356
Tax Period
2024-09-01 to 2025-08-31

HEATING PIPING & REFRIGERATION TRAINING FUND, founded in 1955, is a mid-sized nonprofit that reported $17.2M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.5M, a strong 38% operating margin.

Mission

THE PURPOSE OF THE FUND IS TO PROVIDE, THROUGH CONTRIBUTIONS TO A TRUST FUND, EDUCATION AND TRAINING PROGRAMS FOR APPRENTICE AND JOURNEYMEN STEAMFITTERS.

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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 $5,500
Program Service Revenue $14,586,846
Investment Income $2,577,304
Other Revenue $55,745
TOTAL REVENUE $17,225,395

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,309,961
Fundraising Expenses $0
Program Expenses $8,441,209
Other Expenses $7,454,157
TOTAL EXPENSES $10,764,118

Year-over-Year Comparison

2024 2023 Change
Revenue $17,225,395 $13,299,126 +0.3%
Expenses $10,764,118 $9,852,227 +0.1%
Net Income $6,461,277 $3,446,899 +0.9%
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
8
Independent Members
8
Employees
111
Volunteers
8

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
1
$0
Total Directors
8
$0
Key Employees
1
$278,135
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY MURDOCK TRAINING DIRECTOR 39.0
Key Emp
$170,798 $107,337 $278,135
JAMES BALDERSON JR ASSISTANT TRAINING DIRECTOR 40.0
Highest
$152,460 $102,752 $255,212
CHARLES CLAWSON ASSISTANT TRAINING DIRECTOR 40.0
Highest
$152,460 $102,752 $255,212
JUSTIN BENNETT ASSISTANT TRAINING DIRECTOR 40.0
Highest
$152,460 $102,752 $255,212
CLINT E WALKER JR ASSISTANT TRAINING DIRECTOR 40.0
Highest
$150,234 $102,200 $252,434
JOHN COBURN WELDING INSTRUCTOR 40.0
Highest
$131,055 $88,337 $219,392
LEROY WATSON TRUSTEE 2.0
Director
$0 $0 $0
JERRY TAYLOR TRUSTEE 2.0
Director
$0 $0 $0
CHRISTOPHER MADELLO CHAIRMAN 2.0
Officer Director
$0 $0 $0
K SEAN PERDUE TRUSTEE 2.0
Director
$0 $0 $0
JEFFREY GADDY TRUSTEE 2.0
Director
$0 $0 $0
SIDNEY BONILLA TRUSTEE 2.0
Director
$0 $0 $0
TOMMY GIFFORD TRUSTEE 2.0
Director
$0 $0 $0
JOSEPH HAINES TRUSTEE 2.0
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
2025 $17,225,395 $10,764,118 $51,154,431 $6,461,277
2024 $13,299,126 $9,852,227 $48,238,133 $3,446,899
2023 $11,693,815 $8,415,706 $41,117,545 $3,278,109
2022 $12,123,226 $8,549,130 $43,256,129 $3,574,096
2021 $11,368,274 $7,184,939 $40,125,047 $4,183,335
2020 $10,691,645 $6,894,423 $34,978,683 $3,797,222
2019 $10,036,252 $5,116,416 $33,197,553 $4,919,836
2018 $8,245,228 $4,962,045 $25,959,930 $3,283,183
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