INSTITUTE OF HEATING AND AIR CONDI… - 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

1948

Legal Domicile

Principal Officer

CARLOS RUIZ

Phone

8185511555

Tax Period

2023-01-01 to 2023-12-31

INSTITUTE OF HEATING AND AIR CONDITIONING INDUSTRIES INC, founded in 1948, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $2.4M left a modest 5% surplus.

Mission

A TRADE ASSOCIATION OF CONTRACTORS, MANUFACTURERS, DISTRIBUTORS, UTILITY FIRMS, AND RELATED BUSINESSES ACTIVELY ENGAGED IN THE HEATING, VENTILATION, AIR CONDITIONING, REFRIGERATION AND SHEET METAL INDUSTRIES DEDICATED TO THE EDUCATION, PROMOTION AND GROWTH OF THE INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $843,594

PUBLICATION : "INDOOR COMFORT NEWS ; MONTHLY MAGAZINE WITH ARTICLES OF INTEREST TO ARCHITECTS, CONTRACTORS & OTHERS IN THE HEATING, VENTILATING & AIR CONDITIONING INDUSTRIES

Program 2

Expenses: $278,935 Revenue: $337,054

TRADE SHOW: SPONSOR ANNUAL TRADE SHOW IN SOUTHERN CALIFORNIA AT WHICH ORGANIZATIONS TANGING FROM THE EPA TO MANUFACTURES CAN DEMONSTRATE NEW PRODUCTS AND SHOW EQUIPMENT

Program 3

Expenses: $1,158,277 Revenue: $678,483

EDUCATION: OFFERS EDUCATIONAL AND LICENSING PROGRAMS. AMONG OTHERS IS ON THAT MEETS THE STATE REGULATION THAT ALL PROFESSIONALS WORKING WITH REFRIGERATORS BE CERTIFIED.

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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 $336,710

Program Service Revenue $1,810,159

Investment Income $407,806

Other Revenue $-11,730

TOTAL REVENUE $2,542,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $611,219

Fundraising Expenses $24,961

Program Expenses $2,380,640

Other Expenses $1,799,855

TOTAL EXPENSES $2,411,074

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,542,945	$2,173,831	+0.2%
Expenses	$2,411,074	$2,273,867	+0.1%
Net Income	$131,871	$-100,036	-2.3%

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

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

$252,150

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE ADAMS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JIM BATTS	DIRECTOR	2.00	Director	$0	$0	$0
BOB WISEMAN	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
PENNY YONAN PADGETT	DIRECTOR	2.00	Director	$0	$0	$0
DEAN GILFORD	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEVE CLINTON	DIRECTOR	2.00	Director	$0	$0	$0
MITCH MAILEY	DIRECTOR	2.00	Director	$0	$0	$0
JEB BALL	DIRECTOR	2.00	Director	$0	$0	$0
HARVEY BRINGAS	DIRECTOR	2.00	Director	$0	$0	$0
LAWRENCE CASTILLO	DIRECTOR	2.00	Director	$0	$0	$0
TYLER KEENE	DIRECTOR	2.00	Director	$0	$0	$0
LYMAN LOCKWOOD	DIRECTOR	2.00	Director	$0	$0	$0
EUGENE SILBERSTEIN	DIRECTOR	2.00	Director	$0	$0	$0
CARLOS RUIZ	EXECUTIVE DIRECTOR	40.00	Officer	$252,150	$0	$252,150

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	$2,542,945	$2,411,074	$5,507,907	$131,871
2022	$2,173,831	$2,273,867	$5,425,162	$-100,036
2021	$2,082,044	$1,822,945	$6,597,946	$259,099
2020	$1,273,273	$1,721,897	$6,403,935	$-448,624
2019	$1,977,102	$2,149,802	$6,308,639	$-172,700
2018	$2,125,189	$1,974,705	$5,990,833	$150,484

INSTITUTE OF HEATING AND AIR CONDITIONING INDUSTRIES INC