Hobart Institute Of Welding Technology
- Assets
- $22.0m
- Revenue
- $8.6m
- Investments
- $790.8k
- Employees
- 59
- Location
- Troy, OH
- Founding
- 09/1940
- Data as of
- 12/2020
- EIN
- 31-6032186
Organization Overview
Hobart Institute Of Welding Technology is located in Troy, OH. The organization was established in 1940. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2021, Hobart Institute Of Welding Technology employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hobart Institute Of Welding Technology is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Hobart Institute Of Welding Technology generated $8.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $7.6m during the year ending 12/2020. While expenses have increased by 0.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
POST SECONDARY EDUCATION AND JOB TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Mazzulla President | OfficerTrustee | 45 | $196,197 |
Ruth Clark Secretary/treasurer | Officer | 45 | $155,042 |
Charles Carpenter Director Of Skill Education | 45 | $104,351 | |
Charlie Ribardo Director | Trustee | 1 | $0 |
Steve Staub Director | Trustee | 1 | $0 |
Lois Bertke Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
D9 Technologies It Products & Services | 12/30/21 | $222,648 |
Clean Team Cleaning Services | 12/30/21 | $136,337 |
Mccarthy Industrial Contractor Booths - Purchase & Installation | 12/30/21 | $172,309 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,350,626 |
| Investment income | $125,086 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,504 |
| Net Rental Income | $295,452 |
| Net Gain/Loss on Asset Sales | -$53,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $410,188 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,624,823 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $355,263 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $391,613 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,891,841 |
| Pension plan accruals and contributions | $113,115 |
| Other employee benefits | $521,535 |
| Payroll taxes | $224,323 |
| Fees for services: Management | $40,345 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $142,812 |
| Advertising and promotion | $76,189 |
| Office expenses | $22,950 |
| Information technology | $130,593 |
| Royalties | $0 |
| Occupancy | $246,423 |
| Travel | $25,257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,882 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $895,350 |
| Insurance | $82,929 |
| All other expenses | $0 |
| Total functional expenses | $7,570,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,468 |
| Savings and temporary cash investments | $3,962,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,363 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $315,937 |
| Prepaid expenses and deferred charges | $147,804 |
| Investments—publicly traded securities | $7,288,379 |
| Investments—other securities | $790,807 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,990,854 |
| Accounts payable and accrued expenses | $402,706 |
| Grants payable | $0 |
| Deferred revenue | $1,273,618 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $269,288 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,945,612 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $20,045,242 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hobart Institute Of Welding Technology has recieved totaling $10,005.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $790,807 |
| Earnings | $131,042 |
| Net Contributions | $48,725 |
| Grants | $79,909 |
| Ending Balance | $890,665 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alternative Services Inc Livonia, MI | $7,366,865 | $19,260,282 |
Eastern Kentucky Concentrated Employment Program Inc Hazard, KY | $3,193,926 | $15,607,928 |
Berrien-Cass-Vanburen Workforce Development Board Inc Benton Harbor, MI | $2,581,468 | $13,721,312 |
Jobworks Inc Fort Wayne, IN | $2,850,480 | $13,765,612 |
Ohio Operating Engineers Apprenticeship Fund Columbus, OH | $28,221,332 | $11,797,420 |
Nueva Esperanza Philadelphia, PA | $22,032,264 | $12,218,705 |
United Labor Agency Inc Cleveland, OH | $1,262,964 | $7,870,324 |
Hobart Institute Of Welding Technology Troy, OH | $21,990,854 | $8,624,823 |
International Union Of Operating Engineers Local 324 Health & Welfa Troy, MI | $11,444,859 | $7,479,654 |
Eastern Atlantic States Carpenters Technical College Philadelphia, PA | $14,328,660 | $6,924,336 |
Michigan Statewide Carpenters And Millwrights Jatc Fund Lansing, MI | $41,111,289 | $11,191,955 |
Northeast Indian Works Inc Fort Wayne, IN | $1,136,996 | $7,211,329 |