FOUNDATION FOR MECHANICAL INSULATI… - 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

2021

Legal Domicile

Principal Officer

MICHELE M JONES

Phone

7034646422

Tax Period

2023-01-01 to 2023-12-31

FOUNDATION FOR MECHANICAL INSULATION EDUCATION TRAINING & INDUSTRY ADVANCEMEN, founded in 2021, is a small nonprofit in the Education sector that reported $217K in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $252K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO DEVELOP AND IMPLEMENT STRATEGIES AND RECOMMEND PROCESSES TO ADVANCE AND EXPAND THE COMMERCIAL AND INDUSTRIAL INSULATION INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $108,356

DEVELOPMENT OF INDUSTRY DATA, RESEARCH, AND EDUCATIONAL CONTENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $217,005

Program Service Revenue $0

Investment Income $0

Other Revenue $301

TOTAL REVENUE $217,306

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $83,790

Fundraising Expenses $41,370

Program Expenses $108,356

Other Expenses $158,094

TOTAL EXPENSES $251,884

Year-over-Year Comparison

	2023	2022	Change
Revenue	$217,306	$255,534	-0.1%
Expenses	$251,884	$245,527	+0.0%
Net Income	$-34,578	$10,007	-4.5%

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

$316,291

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID J COX	PRESIDENT	14.00	Officer Director	$0	$0	$0
JOHN LAMBERTON	TREASURER	14.00	Officer Director	$0	$0	$0
MARC NAPOLITANO	SECRETARY	14.00	Officer Director	$0	$0	$0
WALLY BLEWITT	BOARD MEMBER	14.00	Director	$0	$0	$0
R DEAN BUROWS	BOARD MEMBER	14.00	Director	$0	$0	$0
MATT HYMER	BOARD MEMBER	14.00	Director	$0	$0	$0
JACK BITTNER	BOARD MEMBER	14.00	Director	$0	$0	$0
JON PERRY	BOARD MEMBER	14.00	Director	$0	$0	$0
LAURA DOVER	BOARD MEMBER	14.00	Director	$0	$0	$0
MICHELE M JONES	PROGRAM MANAGER/LEAD	7.00	Officer	$0	$42,917	$316,291

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	$217,306	$251,884	$53,161	$-34,578
2022	$255,534	$245,527	$85,678	$10,007

FOUNDATION FOR MECHANICAL INSULATION EDUCATION TRAINING & INDUSTRY ADVANCEMEN