Institute Of Heating & Air Conditioning Industries Inc
- Assets
- $5.4m
- Revenue
- $2.2m
- Investments
- $3.8m
- Employees
- 9
- Location
- Glendale, CA
- Founding
- 01/1958
- Data as of
- 12/2022
- EIN
- 95-6092523
Organization Overview
Institute Of Heating & Air Conditioning Industries Inc is located in Glendale, CA. The organization was established in 1958. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Institute Of Heating & Air Conditioning Industries Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Heating & Air Conditioning Industries Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Institute Of Heating & Air Conditioning Industries Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 5.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ANNUAL TRADE SHOW AND DEDICATION TO THE EDUCATION, PROMOTION, AND GROWTH OF THE HVAC INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATION: "INDOOR COMFORT NEWS": MONTHLY MAGAZINE WITH ARTICLES OF INTEREST TO ARCHITECTS, CONTRACTORS & OTHERS IN THE HEATING, VENTILATING & AIR CONDITIONING INDUSTRIES
MEMBERSHIPS: OVER 700 MEMBERS INCLUDE CONTRACTORS, MANUFACTURERS, DISTRIBUTORS AND UTILITY COMPANIES. MEMBERS MAY TAKE ADVANTAGE OF ADVISORY CONSULTANTS AND EDUCATION PROGRAMS.
TRADE SHOW: SPONSOR ANNUAL TRADE SHOW IN SOUTHERN CALIFORNIA AT WHICH ORGANIZATIONS RANGING FROM THE EPA TO MANUFACTURERS CAN DEMONSTRATE NEW PRODUCTS AND SHOW EQUIPMENT
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Adams Vice President | OfficerTrustee | 2 | $0 |
Jim Batts Director | Trustee | 2 | $0 |
Bob Wiseman Secretary/treasurer | OfficerTrustee | 2 | $0 |
Penny Yonan Padgett Director | Trustee | 2 | $0 |
Dean Gilford President | OfficerTrustee | 2 | $0 |
Steve Clinton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $133,060 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $194,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $327,400 |
| Total Program Service Revenue | $1,602,547 |
| Investment income | $218,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,185 |
| Net Income from Fundraising Events | $12,437 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,173,831 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $559,296 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,835 |
| Payroll taxes | $38,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,663 |
| Advertising and promotion | $0 |
| Office expenses | $5,762 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,127 |
| Travel | $5,846 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,547 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,446 |
| Insurance | $10,246 |
| All other expenses | $411,612 |
| Total functional expenses | $2,273,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $844,512 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $206,816 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,037 |
| Net Land, buildings, and equipment | $431,584 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,838,841 |
| Investments—program-related | $0 |
| Intangible assets | $14,915 |
| Other assets | $24,457 |
| Total assets | $5,425,162 |
| Accounts payable and accrued expenses | $28,185 |
| Grants payable | $0 |
| Deferred revenue | $83,945 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,477 |
| Total liabilities | $122,607 |
| Net assets without donor restrictions | $5,302,555 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,425,162 |