Texas High School Welding Series Inc

Nonprofit profile at a glance

EIN
842182863
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
Weimar, TX, USA
Phone
9797327179
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$303,543
Expenses
$290,294
Assets
$94,620
Liabilities
$0

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Mike Higgins (President)
  • Jeff Sockwell (Vice President)
  • Eric Pesak (Executive Director)

Highest reported compensation

  • Eric Pesak (Executive Director): $34,800 total reported compensation

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

Overview

Mission

Texas High School Welding Series is an organization dedicated to bridging the gap between students, educators, and industry leaders to develop the technical and employability skills necessary in Texas High School Students for tomorrows welding industry.

What it reported doing in 2024

Welding events-hosting welding certification events all over the state of Texas. Students of all skill levels are challenged in an effort to improve ability and increase desire to pursue a career in welding. Industry professionals team up with educational leaders to create these events.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 82
  • Accountability: 63
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.1%; rating input score 92
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 73.4%; rating input score 73; 47th 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 12%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 34.5% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 92.1% of revenue deployed · 96.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $280K in reported program spending
  • Leadership: top reported pay $35K · 13 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.