Hobart Institute of Welding Technology

Nonprofit profile at a glance

EIN
316032186
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-T 2024
Location
Troy, OH, USA
Phone
8003329448
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$10,986,689
Expenses
$10,527,106
Assets
$30,136,152
Liabilities
$1,587,651

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • TOM FUNDERBURG (PRESIDENT)
  • CHARLES CARPENTER (VICE PRESIDENT)

Highest reported compensation

  • CHARLES CARPENTER (VICE PRESIDENT): $172,488 total reported compensation
  • TOM FUNDERBURG (PRESIDENT): $149,135 total reported compensation
  • CHAD SCHMELZER (BUSINESS DEVELOPMENT REPRESENTATIVE): $147,799 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hobart institute of welding technology provides welding education and training resources, developing highly skilled welding professionals worldwide.

What it reported doing in 2025

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.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.2%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 2.86; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 74.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.9M in reported program spending
  • Leadership: top reported pay $172K · 9 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $657K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 41/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.