HOBART INSTITUTE OF WELDING TECHNOLOGY Charity Report

Public IRS 990 nonprofit record

HOBART INSTITUTE OF WELDING TECHNOLOGY

EIN 31-6032186 · Education (B)

What they do

THE HOBART INSTITUTE of WELDING TECHNOLOGY is A NONPROFIT INSTITUTION DEDICATED to WELDING TRAINING and EDUCATION EXCELLENCE. HOBART INSTITUTE is COMMITTED to HELPING INDIVIDUALS DEVELOP MARKETABLE WELDING SKILLS THROUGH QUALITY TRAINING AT MINIMUM COST. THE INSTITUTE EDUCATES and TRAINS INDIVIDUALS IN THE USE and APPLICATION of WELDING TECHNOLOGIES; DEVELOPS and DISSEMINATES WELDING TRAINING and EDUCATIONAL MATERIALS; and CONDUCTS CERTIFICATION RESEARCH and QUALIFICATIONS for THE WELDING INDUSTRY. HOBART INSTITUTE STRIVES to DEVELOP NEW and BETTER WELDING TRAINING METHODS and TRAINING MATERIALS and to MAKE WELDING TRAINING AVAILABLE to ALL.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $78.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders11 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

71.66%of revenue went to mission work78.2% of expenses · Program services

$82.47spent for every $100 of revenueRevenue covered expenses this year.

20.03%of revenue went to management and office costs21.8% of expenses

$3.33in assets for every $1 spent this yearSome assets cannot be spent right away.

0.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $148,269 for TOM FUNDERBURG (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$9,881,312

Mission workProgram services$7,081,21771.66% of revenue78.2% of expenses

ManagementOffice and general costs$1,979,12120.03% of revenue21.8% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$820,9748.31% of revenueShown in gray on the chart

Total expenses$9,060,33891.69% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 78.2% mission · 21.8% management · 0.0% fundraisingTotal expenses: 91.69% of revenue

2023Expense mix: 82.1% mission · 17.9% management · 0.0% fundraisingTotal expenses: 87.88% of revenue

2022Expense mix: 89.3% mission · 10.7% management · 0.0% fundraisingTotal expenses: 87.82% of revenue

2021Expense mix: 90.2% mission · 9.8% management · 0.0% fundraisingTotal expenses: 80.12% of revenue

2020Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 87.78% of revenue

2019Expense mix: 88.6% mission · 11.4% management · 0.0% fundraisingTotal expenses: 92.37% of revenue

2018Expense mix: 89.6% mission · 10.4% management · 0.0% fundraisingTotal expenses: 91.20% of revenue

2017Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 88.32% of revenue

Money in and money out

Revenue$10,986,689

Expenses$9,060,338

Annual surplus $1,926,351 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$7,081,217 · 78.2% of expenses

Management and office costs$1,979,121 · 21.8% of expenses

See all reported dollar amounts

Revenue$10,986,689

Expenses$9,060,338

Assets$30,136,152

Income$12,362,113

Contributions$22,000

Mission work (program services)$7,081,217

Management and general$1,979,121

Stocks and bonds$11,970,412

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

TOM FUNDERBURGPRESIDENT · 45 hrs/week $148,269

CHARLES CARPENTERVICE PRESIDENT · 45 hrs/week $148,164Base $123,149 · Other $25,015

CHAD SCHMELZERDIRECTOR OF CORP SERVICES · 45 hrs/week $125,908Base $121,635 · Other $4,273

TRACY BRAGGTREASURER/DIRECTOR OF FINANCE (THRU OCT) · 45 hrs/week $94,734Base $86,046 · Other $8,688

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (11)

TOM FUNDERBURGPRESIDENT

CHARLES CARPENTERVICE PRESIDENT

CHAD SCHMELZERDIRECTOR OF CORP SERVICES

TRACY BRAGGTREASURER/DIRECTOR OF FINANCE (THRU OCT)

CHARLIE RIBARDODIRECTOR

JOE REDDINGDIRECTOR (THRU NOV)

KEVIN GARMANDIRECTOR (THRU NOV)

MICHAEL TECKLENBURGDIRECTOR (STARTING IN MAY)

RICHARD CULTICEDIRECTOR

SAM BROWNDIRECTOR

STEVE STAUBDIRECTOR

About this charity

Recognized since: January 1940
Location: 400 TRADE SQ E, TROY, OH 45373-2463
County: Miami
In care of: AUSTIN LEFELD
Primary officer: AUSTIN LEFELD, FINANCE MANAGER

How to reach them

WebsiteVisit the charity’s website Emailhiwt@welding.org Phone(800) 332-9448

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: CLARK SCHAEFER HACKETT & CO
NTEE classification: Education (B)
IRS tax category: Education