New Horizons Foundations-A Sheet Metal Industry Initiative
- Assets
- $5.6m
- Revenue
- $248.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Chantilly, VA
- Founding
- 10/2001
- Data as of
- 12/2021
- EIN
- 41-1998303
Organization Overview
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 12/2021, New Horizons Foundations-A Sheet Metal Industry Initiative generated $248.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $280.8k during the year ending 12/2021. While expenses have increased by 1.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESEARCH THAT WILL GIVE HVAC AND SHEET METAL CONTRACTORS A COMPETITIVE EDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATIONAL ADOPTION OF NEW TECHNOLOGIES:THIS RESEARCH PROJECT ADDRESSES THE QUESTION OF WHY SOME COMPANIES ARE ABLE TO SUCCESSFULLY ADOPT AND IMPLEMENT NEW TECHNOLOGIES AND METHODS, WHILE OTHER COMPANIES STRUGGLE. THROUGH A NATIONAL SURVEY AND INTERVIEWS OF SMACNA CONTRACTORS, THE TOP 8 MOST EFFECTIVE TECHNOLOGY IMPLEMENTATION MANAGEMENT PRACTICES FOR ORGANIZATIONAL ADOPTION OF NEW TECHNOLOGIES WERE IDENTIFIED. PUBLICATION DATE: JULY 2021RESEARCHERS: UNIVERSITY OF KANSAS AND UNC - CHARLOTTE
HUMAN DIMENSIONS ASSESSMENT OF TOP-PERFORMING PERSONNEL - PILOT STUDY:THIS RESEARCH PROJECT PILOTED A NATIONWIDE BENCHMARK OF HUMAN DIMENSIONS FOR PROJECT MANAGERS, FIELD LEADERS, ESTIMATORS, AND DETAILERS TO IDENTIFY WHAT IS "BEST-IN-CLASS" FOR THESE JOB FUNCTIONS. THE STUDY AIMS TO HELP SMACNA MEMBERS WITH HIRING NEW PERSONNEL, INTERNAL PROMOTION DECISIONS AND TALENT DEVELOPMENT. PUBLICATION DATE: SEPTEMBER 2021RESEARCHERS: ARIZONA STATE UNIVERSITY
EFFECTIVE PROJECT CLOSE-OUT FOR HVAC/SHEET METAL CONTRACTORS: SUCCESSFUL PRACTICES GUIDE:THIS PROJECT INVESTIGATES DIFFERENT PROJECT CLOSE-OUT PROCESSES CURRENTLY UTILIZED BY VARIOUS HVAC AND SHEET METAL COMPANIES IN THE INDUSTRY. THROUGH A QUESTIONNAIRE AND INTERVIEWS COMPANIES' INTERNAL OPERATING PROCEDURES WERE DOCUMENTED AND EXAMINED TO IDENTIFY PROACTIVE ELEMENTS AND AREAS OF DELAY IN THE COMPANY'S INTERNAL CLOSE-OUT PROCESSES, INCLUDING:A. INTERNAL CLOSE-OUT PROCESSESB. INTERNAL PROJECT CONTROLSC. KEY COMMUNICATION PROTOCOLS(CONTINUED ON SCHEDULE O)D. DOCUMENT REQUIREMENTSE. USE OF TECHNOLOGY COMPLETION DATE: DECEMBER 2021. PUBLICATION DATE: JANUARY 2022RESEARCHERS: CLEMSON UNIVERSITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Simon Vice Chairman | OfficerTrustee | 1 | $0 |
Guy Gus Chairman | OfficerTrustee | 1 | $0 |
Thomas J Soles Executive Director | Officer | 5 | $0 |
Daniel Kelly Director | Trustee | 1 | $0 |
Thomas Martin Director | Trustee | 1 | $0 |
Carol Duncan Director | Trustee | 1 | $0 |
Financial Statements
| 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 | $32,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,664 |
| Total Program Service Revenue | $1,980 |
| Investment income | $51,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $161,799 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $248,223 |
| 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 | $16,924 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,472 |
| Advertising and promotion | $5,918 |
| Office expenses | $1,220 |
| Information technology | $15,437 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,932 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,741 |
| All other expenses | $0 |
| Total functional expenses | $280,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,329 |
| Savings and temporary cash investments | $1,210,616 |
| Pledges and grants receivable | $190,160 |
| Accounts receivable, net | $129 |
| 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 | $3,191 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,155,774 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,594,199 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $5,404,039 |
| Net assets with donor restrictions | $190,160 |
| 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 | $5,594,199 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Horizons Foundations-A Sheet Metal Industry Initiative has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Smacna Greater Chicago Oak Brook, IL PURPOSE: INDUSTRY PROMOTION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chowan University Murfreesboro, NC | $92,478,442 | $40,741,279 |
Cedar Tree Academy Public Charter School Washington, DC | $23,312,011 | $10,362,283 |
Meba Training Plan Baltimore, MD | $15,796,900 | $7,564,374 |
Accreditation Alliance Of Career Schools And Colleges Arlington, VA | $26,046,219 | $7,869,062 |
Laurelbrook Sanitarium And School Incorporated Dayton, TN | $3,172,312 | $3,978,330 |
Brillare Beauty Institute Cleveland, TN | $1,097,021 | $2,779,261 |
Qualified Elevator Inspector Training Tr Columbia, MD | $488,825 | $1,547,894 |
Plumbers & Pipefitters Locals 352 & 572 Joint Apprenticeship Committee Nashville, TN | $1,903,387 | $1,719,621 |
Pathnorth Inc Washington, DC | $170,941 | $946,873 |
Tennessee Future Farmers Of America Foundation Inc Cookeville, TN | $8,783,000 | $1,550,962 |
Biotechnical Institutes Of Maryland Baltimore, MD | $870,239 | $730,410 |
Electrician Training Academy At Knoxville Knoxville, TN | $786,789 | $800,194 |