Hydraulic Institute Inc

Nonprofit profile at a glance

EIN
223525903
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Parsippany, NJ, USA
Phone
9732679700
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,765,828
Expenses
$3,476,522
Assets
$6,583,083
Liabilities
$2,515,641

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • MICHAEL MICHAUD (EXECUTIVE DIRECTOR)
  • JOHN DONATIELLO (President)

Highest reported compensation

  • MICHAEL MICHAUD (EXECUTIVE DIRECTOR): $476,983 total reported compensation
  • PETER GAYDON (DIRECTOR OF TECHNICAL AFFAIRS): $267,084 total reported compensation
  • MIKE REIMERS (CONTROLLER): $197,848 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

The hydraulic institute publishes industry standards, the engineering data book, sealing guidelines, the lcc guide, the vsp guide, the optimizing systems guide, power plant guideline, pump test lab approval guide and offers subscriptions to economic reports about the pumping industry. These publications provide information for pump users to enable them to maximize effective application testing, installation, operation and maintenance of pumps and pumping systems.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.1%; rating input score 68
  • Program expense ratio: 83.8%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 7.7%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 1.89; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 27.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 68.1% of revenue deployed · 83.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $477K · 19 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • Review — Sustainability: Operating margin scored 58/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.