New Horizons Foundations-A Sheet Metal Industry Initiative is located in Chantilly, VA. The organization was established in 2001. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Horizons Foundations-A Sheet Metal Industry Initiative 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 12/2023, New Horizons Foundations-A Sheet Metal Industry Initiative generated $455.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.7% each year . All expenses for the organization totaled $278.3k during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PURPOSE IS TO PROVIDE RESEARCH THAT WILL GIVE HVAC AND SHEET METAL CONTRACTORS A COMPETITIVE EDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMANCE MEASUREMENT - A GUIDE TO DEVELOPING YOUR MEASURES OF SUCCESS - THE PURPOSE OF ADOPTING PERFORMANCE MEASURES AND IMPROVEMENT EFFORTS IS TO ALLOW LEADERSHIP TO "SEE" WORK THEY ARE NOT DIRECTLY ENGAGED IN RUNNING. WHETHER THEY ARE CALLED KEY PERFORMANCE MEASURES, INDICATORS, OR OTHER TERMS, EFFECTIVE MEASURES TO TRACK PERFORMANCE ENABLE IMPROVEMENT INITIATIVES, EARLY WARNING OF PROBLEMS, RESOURCE OPTIMIZATION, AND DATA DRIVEN DECISION MAKING. THIS PROJECT WILL PRODUCE A GUIDE TO SUPPORT SHEET METAL AND HVAC CONTRACTORS IN ORGANIZING THEIR PERFORMANCE MEASUREMENT SYSTEM. THE PROJECT HAS BEEN AWARDED TO PENN STATE WITH COMPLETION AND PUBLICATION OF THE GUIDE BY YEAR END 2024.
VDC ENGINEERING STUDY - THIS JOINT PROJECT WITH THE GENTILLE AND ELECTRI FOUNDATIONS AND THE UNIVERSITY OF WASHINGTON HAS THE FOLLOWING OBJECTIVES:1. DEVELOP METRICS TO SUPPORT THE ESTIMATION OF VDC ENGINEERING FOR MEP TRADES2. BENCHMARK CURRENT VDC ENGINEERING PRACTICES AND PERFORMANCE, AND,3. DEVELOP METRICS TO EVALUATE THE EFFICIENCIES AND EFFECTIVENESS OF VIRTUAL DESIGN AND COORDINATION.THIS PROJECT ORIGINALLY CONTEMPLATED PERFORMANCE OF TIME STUDIES OF VDC PROCESSES. HOWEVER, A LACK OF VOLUNTEER PARTICIPATION FROM THE THREE AFFILIATED ASSOCIATIONS HAS RESULTED IN REVISITING THE DATA COLLECTION PROCESS. THE THREE FOUNDATIONS ARE PRESENTLY AWAITING A REVISED PROPOSAL FROM THE UNIVERSITY. THE NEW HORIZONS FOUNDATION IS EVALUATING ITS CONTINUED PARTICIPATION IN THE PROJECT.
WORKFORCE DEVELOPMENT BEST PRACTICES IDENTIFICATION, COMMUNICATION AND TRAINING - THIS MULTI-YEAR PROJECT SEEKS TO IDENTIFY SUCCESSFUL STRATEGIES USED TO HIRE, DEVELOP AND RETAIN EMPLOYEES IN SHEET METAL, HVAC, AND MECHANICAL CONSTRUCTION COMPANIES. IN THE FIRST PHASE OF THIS PROJECT, WHICH WAS INITIATED IN DECEMBER 2022, THE NEW HORIZONS FOUNDATION INVESTIGATED AND REPORTED ON THE FOLLOWING CURRENT ISSUES IN WORKFORCE DEVELOPMENT. 1. INVESTIGATED WHAT YOUNG WORKERS WANT AND NEED IN THEIR CAREERS. 2. EXPLORED CHARACTERISTICS UNIQUE TO THE NEXT GENERATION OF WORKERS. 3. EXAMINED WHAT THE YOUNGER GENERATION EXPECTS FROM THEIR JOBS. 4. ASSESSED DIVERSITY, EQUITY, AND INCLUSION PRACTICES IN LOCAL AREAS. THE NHF IDENTIFIED, MET WITH AND PROFILED 28 WORKFORCE DEVELOPMENT ORGANIZATIONS (WDOS) TO UNDERSTAND THEIR OBJECTIVES, CONTENT, DELIVERY METHODS, HISTORY AND RESULTS, ESPECIALLY AS THEY IMPACT THE ABOVE ISSUES. IN THE CURRENT SECOND PHASE OF THIS PROJECT, THE FOUNDATION IS HIGHLIGHTING THE TOP 25% OF WDOS THROUGH FACILITATED PODCASTS. TWO OF THE SEVEN RECORDINGS HAVE BEEN COMPLETED AND ARE BEING EDITED FOR RELEASE IN JULY. THE REMAINING FIVE PODCASTS ARE SCHEDULED FOR COMPLETION BY THE 3RD QUARTER 2024. THESE WDOS FOCUS ON BRINGING UNDER-REPRESENTED GROUPS (WOMEN AND MINORITIES) INTO BUILDING TRADES AND THEIR SUCCESSES (AND STRUGGLES) ARE FEATURED IN THE PODCASTS. A THIRD PROJECT PHASE IS UNDERWAY WITH THE FOLLOWING OBJECTIVES IDENTIFIED. 1. CURATE THE CAPTURED WDOS CONTENT INTO CONCISE INFOGRAPHICS. 2. FOCUS ON LEADERSHIP DEVELOPMENT FOR TRADE AND NON-TRADE HIRES AND PRODUCE SHORT VIDEOS TO SHOWCASE SUCCESSFUL PRACTICES (MENTORING, SHADOWING, AND ONBOARDING). 3. DEVELOP A ROADMAP/TEMPLATE FOR IMPLEMENTATION BY CONTRACTORS AND LOCAL ASSOCIATIONS (SMACNA CHAPTERS). 4. CONTINUE INDUSTRY PRESENTATIONS ON PROJECT FINDINGS AND CONTINUE TO EXPAND SUCCESSFUL WDO CONTACTS AND RELATIONSHIPS. 5. DEVELOP A WDO MEDIA SITE ON THE NHF WEBSITE AND CONTINUE WORK TO IMPROVE THE SEARCH ENGINE PRESENCE AND FUNCTIONALITY OF THE NHF WEBSITE, PARTICULARLY AS IT RELATES TO WORKFORCE DEVELOPMENT ISSUES AND INTERESTS.
A SERIES OF 7 PODCASTS BETWEEN A SMACNA CONTRACTOR AND A CUSTOMER - THE FOUNDATION HAS COMMISSIONED ERIC ANDERTON TO FACILITATE A SERIES OF SEVEN PODCASTS BETWEEN A SMACNA CONTRACTOR AND CUSTOMER EXAMINING HOW SUCCESSFUL PARTNERSHIPS THROUGH STRATEGIC ALIGNMENT FACILITATES COMMUNICATIONS, PROBLEM SOLVING, OVERCOMING POTENTIAL CONFLICTS AND ENHANCES WORK DEVELOPMENT. FOUR OF THE SEVEN PODCASTS HAVE BEEN RELEASED TO MEMBERS AND THE FINAL THREE WILL BE COMPLETED BY THE END OF THE THIRD QUARTER 2024.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Guy M Gast Chair | OfficerTrustee | 1 | $0 |
Angela Simon Vice Chair | OfficerTrustee | 1 | $0 |
Ron Rodgers Chair Emeritus | Trustee | 1 | $0 |
Chad Bunting Director | Trustee | 1 | $0 |
Carol Duncan Director | Trustee | 1 | $0 |
Kevin R Gill Jr Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $327,474 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $327,474 |
Total Program Service Revenue | $1,456 |
Investment income | $139,763 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$12,762 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $455,931 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
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 | $205,941 |
Advertising and promotion | $7,757 |
Office expenses | $35,537 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $19,035 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $10,000 |
Total functional expenses | $278,270 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $7,428 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $318,711 |
Accounts receivable, net | $11,772 |
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 | $3,335 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $4,983,958 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $75,000 |
Total assets | $5,400,204 |
Accounts payable and accrued expenses | $7,500 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $13,571 |
Total liabilities | $21,071 |
Net assets without donor restrictions | $5,060,422 |
Net assets with donor restrictions | $318,711 |
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 | $5,400,204 |