Ammonia Refrigeration Foundation Annual Report 2018-2019

A N N U A L R E P O RT FISCAL YEAR 2018–2019

Your Ammonia Refrigeration Foundation’s mission is to support research for the safe, reliable and efficient use of ammonia and other natural refrigerants and to promote the development of industry talent through scholarships, academic alliances and outreach.

FY 2018–2019 ANNUAL REPORT | A

E D U C AT I O N . R E S E A R C H . O U T R E A C H .

C H A R I TA B L E G I V I N G Your Ammonia Refrigeration Foundation continues to grow its services through education programs, quality research and outreach initiatives created to improve the refrigeration industry and benefit the IIAR membership. All of these valued programs rely on your charitable giving and participation in the process to achieve the Foundation’s mission.

Philanthropy offers each of you the great personal satisfaction to ensure that these programs continue to grow and to give back to your industry and invest in its future. It can also give you a current income tax deduction, let you avoid capital gains tax and reduce your potential estate tax liability.

Please consider the many ways you can contribute this next year and plan to give back to your Ammonia Refrigeration Foundation.

CONTENTS Letter from Michael Lynch, Foundation Chairman of the Board

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EDUCATION 2 RESEARCH 4 OUTREACH 6 4th Annual William E. Kahlert Memorial Golf Tournament

7

Planned Giving

8

Letter from Joseph Mandato, Chairman of the Foundation Board of Trustees

9

Board of Trustees

10

ARF Board of Directors

11

Statement of Financial Position

12

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Letter from Michael Lynch Foundation Chairman of the Board FY 2019–2020 Dear IIAR Members and Foundation Contributors, It’s been my honor to serve as your Foundation’s chairman for the 2019–2020 giving year. The end of a leadership term always brings with it a sense of completion and gratitude, and I’m excited to report that your Ammonia Refrigeration Foundation is accomplishing more than ever before, fueled by a year of exceptional member dedication to our essential mission.

In that spirit, I’m excited to highlight two important efforts that have seen great traction this year — our fundraising efforts and two newly completed research projects.

The Ammonia Refrigeration Foundation is classified as a 501(c)(3) education and research organization, which means your donations are tax deductible. Over the 13 years of its existence, the Foundation has received an outpouring of support, and the ways to give have grown along with this organization.

Whether you choose a large corporate gift, participate in our individual giving program, set up a planned gift, or participate in the upcoming 2020 annual William E. Kahlert Memorial Golf Tournament in Orlando, Florida, it’s never been easier to give back to your industry.

One reason for that is the incredible dedication of Foundation board member, Joe Mandato, who has created several new giving programs that make supporting our Foundation easier and more accessible than ever. I’d like to take this opportunity to recognize Joe, and his hard work this year. Without him, we would not be reporting a record giving year. He has been especially instrumental in greatly expanding the roster of 2019 Foundation trustees.

I’d also like to issue a challenge to each and every one of you. The work of your Foundation furthers the work of our industry…if you haven’t already found a way to support your Foundation, I urge you to get involved in the programs, opportunities and giving that sustains our collective future.

The return on that investment has never been as visible, as evidenced by two large research projects completed by your Foundation this year: CFD Simulation of an Ammonia Dispersion Within Refrigerated Spaces and Optimum Pipe Sizing and Vertical Suction Riser Analysis. Both have special implications for IIAR’s end users and will be presented at our upcoming conference in 2020.

The CFD Simulation used Computational Fluid Dynamics analysis to determine the numerical simulation of an ammonia release within refrigerated spaces and provide our industry with scientific data to support these findings.

The data generated from this project will now allow us to do everything from develop code language and standards to create industry guidelines. It’s one of the most valuable projects we’ve ever done for end-users when it comes to determining the design and safety information for the placement of ammonia sensors. And the guidelines published as a result of this project will have a positive influence on inherently safer design practices for ammonia systems and lower end-user costs for material and labor for years to come.

Meanwhile, the Pipe Sizing Analysis research was also completed this year. Like the CFD Simulation, this project yielded invaluable operating data and will make design decisions easier for end-users. The data obtained from the study was utilized to develop a new computer-based analysis tool that allows users to explore optimum pipe sizing based on input data including system capital cost information, system energy cost data, pipe system life expectancy and, most importantly, refrigeration operating efficiency.

These new engineering tools are now available in the IIAR Piping Handbook and should offer methods to significantly lower, piping system design and installation expenses, reduce material costs and improve system operating efficiencies for end-user members.

This research, fueled by our growing fundraising and the many other programs our Foundation supports are making our industry a better, safer and more rewarding place for all of us to work.

In closing, I hope you are as excited as I am to see your Foundation giving back so much to the industry, we have all devoted our professional careers to serving. And I hope you’ll join me in celebrating that victory and looking for ways that you, too, can be part of the giving that sustains it.

Sincerely,

Mike Lynch V.P. Engineering, United States Cold Storage FY 2018–2019 ANNUAL REPORT | 1

E D U CATION

“

The IIAR Founders Scholarship has made an incredible impact in my career as an engineering student. By receiving this award, I am under less pressure to work extensive hours on top of my studies, and have avoided taking out student loans. This scholarship has also given me an incredible opportunity to connect with companies and learn more about the natural refrigeration industry.

After I graduate, my hopes are to eventually make cheaper and safer ways to make ammonia/natural refrigeration a more widespread technology throughout the world.”

Introducing new engineering talent to the natural refrigeration industry

The Founders Scholarship Your Foundation’s scholarship program has grown steadily since its introduction in 2016 and continues to address our industry’s need for technically trained individuals. The Founders Scholarships honor the legacy of George Briley, Chuck Hansen, Don Niederer and Bill Richards who established the IIAR organization and always supported education for our industry. Each year the Founders Scholarship is awarded to students exhibiting exceptional character and interest in pursuing an engineering or related technical degree toward a career in the refrigeration field.

2018 Founders Scholars Attend IIAR Annual Conference Every year, the new Founders Scholarship recipients are invited to attend the IIAR annual conference. The conference experience provides each student with a unique opportunity to meet the leaders in our industry, participate in technical sessions, tour the EXPO floor and explore the many employment opportunities that are available in refrigeration. In March 2019, the scholars attending included Colby Rapp from the University of Missouri and Tom Sauer from Pennsylvania State University, both considered potential future leaders in our industry.

Sam Koske University of Missouri

“

The ARF scholarship I received over the summer of 2019 has had a significant impact on my studies here at Massachusetts Maritime Academy. After taking my refrigeration class last semester, I took the state exam and obtained my EPA 608 refrigeration license. Receiving this scholarship has increased my interest in potentially joining the refrigeration work force upon my graduation. I look forward to learning more about the refrigeration community and opportunities upon my attendance at the IIAR annual meeting in Orlando.”

Frank Ragge Cadet First Assistant Engineer Massachusetts Maritime Academy

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“

The conference visit is particularly beneficial. Every year the students are blown away by the attention received, the people they meet and job opportunities presented to them.”

Bob Port, IIAR Scholarship Subcommittee Chair

2019 Founders Scholarship Recipients The growing interest in education and the increased number of student applicants across the country has placed a new focus on the Founders Scholarship program.

In response to this growing demand and membership contributions, the Foundation Board of Directors voted to increase the funding for scholarships and expand the number of student recipients for 2019. Congratulations to the following students receiving a 2019 Founders Scholarship grant. This group of exemplary students represents the largest number of individuals receiving Foundation scholarship support in any given year.

NEW JUNIORS

Savannah Augustine

Samuel Koske

Nicholas Vogel

Utah State University

University of Missouri

Kansas State University

NEW AND RETURNING SENIORS

Hugh Gaevert

Franklin Ragge

David Rodriguez, Jr.

California Polytechnics University

Massachusetts Maritime Academy

Purdue University

Adam Tilghman

Colby Rapp

Thomas Sauer

University of Maryland Eastern Shore

University of Missouri

Pennsylvania State University

Individuals applying for the Founders Scholarship in 2019 competed with 26 applicants representing the largest field ever

Through this scholarship

received by the program. Interest in the Founders Scholarship

we are able to attract

program has steadily grown and now covers a broad geographical region of applicants extending from the United States to Canada, Latin America and even countries in Africa.

This broad outreach to students demonstrates the program’s value in addressing the industry’s need for technically trained individuals and the opportunity to bring new engineering talent to the natural refrigeration industry.

“

very talented, high-caliber individuals to the industry and share the benefits of natural refrigeration.”

Mark Stencel IIAR Education Committee Chair

FY 2018–2019 ANNUAL REPORT | 3

RE SE ARCH

Investing your contributions in research that drives innovation and creates value for IIAR membership and our industry.

Your Foundation continues to be focused on research programs that will explore new technology and drive

“

to expand our knowledge and support the IIAR education

A record number of attendees participated in the CFD research panel held at the IIAR conference last March.

Many indicated that this is the best research program ever initiated by the Foundation! They were impressed with the complexity of the analysis and the productive results provided in the statistical analysis methods.”

programs. The research scope must also demonstrate real

Wayne Wehber, IIAR Research Chair

scientific innovation for the application of natural refrigerants in all sectors of refrigeration. Every research program funded by the Foundation must complete a comprehensive vetting process to determine the significance of the research and the scientific importance

value to each membership sector and make a meaningful contribution to our industry through methods to improve improve the safety of refrigeration systems.

CFD Simulation of an Ammonia Dispersion Within Refrigerated Spaces

This year your Foundation will complete three research

The goal of this research project was to use Computational

projects that meet all of these goals and will bring

Fluid Dynamics analysis to determine the numerical

real value to our membership and all sectors of the

simulation of an ammonia release within refrigerated

refrigeration industry using natural refrigerants.

spaces and provide industry with scientific data to support

operating efficiencies, identify new technologies and

“

Many IIAR members have indicated an industry guidance document for the installation of insulation in our facilities will be of great benefit.

A significant amount of maintenance and repair is spent on this subject.”

Wayne Wehber, IIAR Research Chair

these findings. The research has been completed and a technical paper will be presented at the 2020 IIAR annual conference. The numerical data will now be used to develop code language in the IIAR standards and to determine design and safety information for the placement of ammonia sensors. The research data from this program is anticipated to create industry guidelines which have positive impact on safety design practices for ammonia systems and lower end-user costs for material and labor.

ARF Research Project Update and Contributions Development of a Mechanical Insulation Installation Guideline for Refrigeration Applications This project is on track for completion by the end of 2019 with a technical paper planned for the 2020 IIAR annual conference in Orlando, FL. The research study is intended to provide best practices and guidelines for insulation systems applied to a refrigeration system. Information will include the thorough treatment of vapor retarder and insulation joints, insulation system terminations and materials currently listed in the IIAR Piping Handbook.

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The guidelines will offer valuable information that can be applied to save material and labor, extend the service life of the piping system and reduce end-user installation and operating costs.

Gordon Struder, IIAR Piping Handbook Chair

ARF Research Project Update and Contributions (continued) Optimum Pipe Sizing and Vertical Suction Riser Analysis The Pipe Sizing and Vertical Suction Riser Analysis research was completed in 2019. Technical

RESEARCH PROGRAMS M O V I N G F O R WA R D The contributions realized through the completion of the three current programs demonstrates the important impact scientific research can have on the refrigeration industry and the important benefits

information was presented at the IIAR conference

provided to our membership and all sectors of

and additional workshops are planned for the

our industry. This presents a challenge to the IIAR

Orlando, FL conference. The objective of this

membership and its Research Committee to identify

research was to revisit the economic sizing

the next generation of programs for the Foundation

methodology and update the recommended pipe

to consider for funding.

sizing tables in the IIAR Piping Handbook. The data obtained from the study was utilized to develop a

The IIAR Research Committee is currently reviewing

new computer-based analysis tool that allows users

a number of excellent research proposals submitted

to explore optimum pipe sizing based on input data including system capital cost information, system energy cost data, pipe system life expectancy and,

by the IIAR Membership. Each research program will work through the documented vetting process to

most importantly, refrigeration operating efficiency.

ensure all value and benefit objectives are achieved.

These new engineering tools are now available in

A detailed research work scope will be drafted

the IIAR Piping Handbook and should offer methods

for those programs receiving highest priority and

to significantly lower, piping system design and

presented to the ARF Board of Directors for funding

installation expenses, reduce material costs and

consideration.

improve system operating efficiencies for end-user members.

The influence of P-Trap vs. 90 Degree Elbow Inlet

One research program has completed the vetting process and received approval from your Foundation

on Two-Phase Pressure Drop in Vertical Suction

for funding. This project scope will expand the

Risers was a continuation of a test rig developed

ammonia release CFD modeling data to include

by ASHRAE at the Danish Technological Institute in

machinery room applications. The research will

Aarhus, Denmark. Your Foundation’s participation in

include objectives to further understand ventilation

this study produced a new scientific understanding

criteria, identify sensor requirements and other safety

of two phase pressure drop and flow in vertical

considerations. The research data will also support

risers. The new information should lead the industry to better designs with this critical part of ammonia piping systems.

IIAR standards development and efforts to develop improved code language.

The research data has currently been applied to

Another research project currently being drafted

update the IIAR Piping Handbook with new pipe

focuses on developing an approved IIAR software

selection criteria to enable more accurate sizing and

program for Relief Valve Sizing. In addition, the

improve system operating efficiency. The program

committee will explore the development of a test

also offers new pipe selection software to improve

stand focusing on CO2 refrigerant performance

design efficiencies and provide new tools for economic analysis. The data obtained this research study is anticipated to have a significant impact on

and piping selection criteria. Many other excellent programs are in consideration. The Research

lowering piping system costs, reducing installation

Committee objective is to have at least three new

labor and improving operating efficiencies in the

projects approved and funded by your Foundation

refrigeration system.

board to allow research work to begin in early 2020.

FY 2018–2019 ANNUAL REPORT | 5

O UTRE ACH Your Foundation continued an active program in fiscal year 2018–2019 working with other organizations to support our military veterans and expand education opportunities in the natural refrigerants industry.

These program activities offered a broad outreach through the Hiring Our Heroes organization, the Refrigerating Engineers and Technicians Association (RETA) and coordinated activities with the AZLE High School technical training program in Texas.

Hiring Our Heroes Once again in 2019, your Foundation sponsored two Hiring Our Heroes events. The Summits located in Fort Leonard Wood, MO and Fort Bliss, TX, were held in May of this year for veterans preparing to leave the service. Each event provided military personnel with the opportunity to meet participating companies and

training program is provided through the ARF/RETA education reserve and promises to bring many qualified ammonia technician operators to the Natural Refrigerant industry. Anyone wishing to support this education effort is encouraged to visit www.IIAR.org/Foundation/Donate and contribute to the ARF/RETA Scholarship Fund.

learn of employment opportunities available today. The

AZLE High School Training Initiative

agendas included mock interview sessions, resume

Building on the AZLE High School technical training

review, question and answer sessions with industry

program, your Foundation Board of directors agreed

professionals and a number of networking opportunities.

to provide a $5,000 grant to support this important

Foundation contributors and IIAR members, being

education initiative for young students wishing to pursue

sponsors of the events, were given priority access to

a career in the natural refrigerants industry. The AZLE

the HOH Career Day events.

High School program, under the guidance of Marcos Braz a former chairman of both the IIAR and ARF, has

RETA — Military Education Opportunities Your Foundation has continued to coordinate efforts with the RETA organization with financial support for veteran education programs. RETA has been working for the past several months to establish cooperative

continued to integrate a refrigeration training class into their tech program curriculum. This effort has led to a graduating class each year with training in the RETA CARO certification and IIAR standards and safety certificates.

programs with military bases around the country to

Recognizing the strong demand for refrigeration

provide veterans with access to the CARO and CIRO

technicians in our industry, the IIAR Education

certified courses for ammonia operator technicians.

Committee is now coordinating efforts with the AZLE

We are pleased to report that the first class for military

High School and County leaders to develop a template

personnel wishing to pursue these credentials is

for other schools to implement. Your Foundation Board

scheduled to be held at Fort Eustis, VA in January

of Directors supports this initiative and is currently

2020. This is the first of several military base training

laying the ground-work to promote funding for other

programs that will be taking place in the first half of next

high schools around the country and to implement

year. Participating veterans will qualify for their CARO

similar refrigeration training programs. Companies and

certification as a refrigeration technician. Once the

individuals who would like to support these efforts are

CARO is achieved, the veterans may begin the CIRO

encouraged to visit www.IIAR.org/Foundation/Education

operator training program. The funding for this veteran

to submit their contribution.

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TH

ANNUAL

The William E. Kahlert Memorial Golf Tournament took place in Phoenix, AZ at the beautiful Raven Golf Club. The event continues to grow each year with 100 golfers participating in 2019. All of the players and sponsors enjoyed a great day of golf and the wonderful Phoenix weather while helping to raise

more than $70,000 for the Foundation.

The Foundation board of directors would like to thank all of the participants and sponsors for their continued support of the work your Foundation is doing on behalf of the natural refrigeration industry.

A special thanks goes out to Dennis Anderholm for the many hours he contributed to chair this special event. The continued success of the William E. Kahlert Memorial Golf Tournament can be attributed to his dedication and leadership in organizing the event.

Congratulations to the ABE Blasquez Team for winning the event trophy in 2019

ƒ Adolfo Blasquez, Adolfo Blasquez Jr., Dennis Anderholm (Event Chairman), Alex Blasquez, Dave Rule

ARF GOLF TOURNAMENT SPONSORS 2019 PLATINUM THE BIG BERTHA | $5,000

GOLD THE DRIVERS | $3,000

SILVER THE FAIRWAY | $2,500

BRONZE THE PUTTERS | $1,000

EVAPCO, Inc. Tournament Reception

Baltimore Aircoil Playing with a Pro

Kuhlman, Inc. Hole in One

CTI Calibration Technologies Golf Balls

The Kahlert Foundation Lunch at the Turn

Colmac Coil Front 9 Drink Sponsor

SGS Refrigeration Hole #4 Longest Drive

Cyrus Shank Golf Towels

Republic Refrigeration Full Breakfast

Delta Tee Transportation

Toromont CIMCO Hole #2 Hole in One

DualTemp Clauger Flask

Innovative Refrigeration Systems Hole #7 Rolex

Vilter Putting Contest

Jamison Door Koozie Mayekawa MYCOM Golf Balls

Logix Back 9 Drink Sponsor

Special thank you to all of the golf tournament sponsors in 2019. The success of this tournament depends upon your generous contributions.

All of your contributions will go to support the mission of your Foundation and to invest in the future of the natural refrigerant industry.

JOIN US NEXT YEAR! We are looking forward to an even bigger tournament next year at the picturesque Rosen Shingle Creek Resort and Golf Course in Orlando, Florida.

This will be the 2020 home of the William E. Kahlert Memorial Golf Tournament and the site of the annual IIAR Natural Refrigerant Conference and EXPO. F I F T H A N N U A L T O U R N A M E N T | MAR C H 1 4 , 2 0 2 0 | R OSE N SHINGLE C R E E K GOLF C OUR SE Registration and sponsorship opportunities for the 2020 Tournament are now open at www.IIAR.org/Foundation/Golf.

For additional information and questions concerning the tournament and sponsorship opportunities, please contact us at golf@NH3Foundation.org.

FY 2018–2019 ANNUAL REPORT | 7

THA N K YOU

The Ammonia Refrigeration Foundation is a 501(c)(3) organized under the IIAR. The Foundation funds education and research programs supporting all sectors of the refrigeration industry using natural refrigerants to protect our environment. Your Foundation depends upon the tax-deductible financial support of individuals, corporations and foundations to continue this mission.

Donors who reach an annual cumulative donation level of $150 or more during the fiscal year are recognized through the year for their commitment to the advancement of the Foundation and its mission. These recognition levels range from Friends of The Foundation, beginning at a few dollars, up to the Chairman Level at $5,000 and $50,000 or more for Trustee Level Pledge. Contributors to the Foundation are listed on the Foundation website at www.IIAR.org/Foundation for those who would like to review contribution recognition.

PLANNED GIVING There are many methods available for an individual to invest in the future of the natural refrigerant industry through a planned giving program. The most considered are outright donations, pledges or a planned monthly contribution that can be easily managed through the Foundation website. In addition, individuals may consider naming the Foundation as a beneficiary in their charitable trust, retirement plan, will or life insurance policy.

Planned giving options can also provide a current income tax deduction, let you avoid capital gains tax and reduce the amount of tax liability for your estate.

The Foundation’s Legacy Society has helped strengthen the mission and programs we serve by providing future support through a planned contribution. We encourage you to consult your financial advisor to explore your planned giving opportunities or visit www.IIAR.org/Foundation/PlannedGiving for more information.

Legacy Society Members Jeffrey Sutton Jeffrey Welch

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Letter from Joseph Mandato Chairman of the Foundation Board of Trustees Dear IIAR Members and Ammonia Refrigeration Foundation Supporters, As you may have noticed, the 2018–2019 fiscal year was very successful for ARF, not only in terms of the outpouring of financial support, but also for the advancement of several important Research Projects, the continued expansion of the Founders Scholarship Program and the Foundation’s involvement in the Hiring Our Heroes program. The growth of these programs is due in large part to the investment of your personal time, financial contributions and continued enthusiasm of the Foundation’s mission. ARF has truly evolved into the industry-sustaining force it was conceived to be when it was founded thirteen years ago.

As Chairman of the Board of Trustees, it has been my honor to lead the effort to grow our Foundation’s financial resources so that we have the funds available to support and expand these programs in the future. I am excited to report that the support of our industry’s leaders during the 2018/2019 fiscal year was incredible.

From Trustee Level Pledges, down to individual contributions, it is obvious our industry is made up of dedicated professionals who are truly passionate about ARF’s mission to improve the safety and efficiency of refrigeration systems and attract new, well-educated talent who will become the industry’s future leaders.

During the 2019–2020 fiscal year, I hope to inspire more companies and individuals to support the Foundation and reach our goal of raising an additional $500,000.

These funds are vitally important as they will support the Foundation’s current (and future) research projects, the expansion of the scholarship program and other services.

This year ARF is providing scholarships to the highest number of students (9) representing the highest number of universities (8) since the program was established. In addition, ARF received the highest number of applicants for consideration this year. Attracting new engineering talent to the natural refrigeration industry and building

awareness of the many career opportunities available is one of the cornerstones of ARF and will require continued financial support as the number of qualified recipients grows each year.

Meanwhile, the research completed by your Foundation this year has real-world implications for every IIAR member. Perhaps one of the most important aspects of the Foundation’s mission, these projects expand our technical knowledge, lay the foundation for the development of new technology, influence code and standards, and help shape engineering practices that directly benefit the IIAR membership and our industry in general.

In addition, we are active in other programs to attract talent into our industry, including participating in “Hiring Our Heroes” recruiting events. These events are designed to attract veterans who are preparing to leave military service by offering an opportunity to meet with participating IIAR companies and learn about employment opportunities available in the industry.

In closing, I would like to make a personal appeal and challenge to you to make a financial contribution to ARF during this fiscal year. Whether you decide to make a smaller individual contribution or lead the effort within your organization to make a Trustee Level Pledge of $50,000 (paid via installments of $10,000 per year for five years) you will be directly supporting the Foundation’s mission and the industry.

The official 2019–2020 fund raising program has begun and will run through the end of the fiscal year on June 30, 2020. In the meantime, please feel free to contact me directly if you want to learn more about ARF or would like to make a Trustee Level Pledge.

Thank you for your support!

Sincerely yours

Joe Mandato Chairman, ARF Board of Trustees

FY 2018–2019 ANNUAL REPORT | 9

BOARD OF TRUSTEES The Trustee contributors represent companies and individuals who have pledged $50,000 or more to further the mission of the Foundation. They are an honored

“

and dedicated group that continues to work on behalf of the Foundation to provide program guidance and ensure the financial security of

During the past 25 years,

I have been honored to be a

member of IIAR and a contributor to the Foundation. I have seen

amazing program growth in the areas of education, research and safety training under their staff leadership and the support of the board of directors. This progress does not happen by accident. We as members and professionals are obligated to lead the natural refrigerant industry to the next level through financial support and the gift of time. The financial support of the Foundation is our opportunity to bring this mission to reality.

Please consider joining us as a contributor to give back and continue the cycle of education and research that is entrusted to us.”

Anonymous Trustee Contributor

the Foundation.

Prior to the IIAR annual conference in Phoenix this year, one IIAR member issued a matching pledge challenge of $250,000 to support the Foundation’s Trustee Pledge

ANONYMOUS $250,000 CONTRIBUTOR

Drive. This member’s generous pledge challenge resulted in over $850,000 in Trustee Pledges to the Foundation before the end of the conference in March. A special thank you to the Anonymous contributor for your dedication and investment in the Foundation’s work to ensure the future of our industry.

Members of the Board of Trustees ORGANIZATIONS

REPRESENTED BY

Baltimore Aircoil Company Bitzer U.S., Inc. Bonar Engineering, Inc. CIMCO Refrigeration Colmac Coil Manufacturing, Inc. EVAPCO, Inc. JCI/Frick Guntner U.S. LLC Independent Refrigeration Services, Inc. Innovative Refrigeration Systems, Inc. The Kahlert Foundation Mayekawa-Mycom Midatlantic Refrigeration MRBraz & Associates Refrigeration Design & Services, Inc. Republic Refrigeration, Inc. Southern Equipment Sales Co. Stanton and Associates, Inc. Vahterus Americas, LLC Vilter Manufacturing LLC

Don Fetzer Paul Conlon Hank Bonar Dave Malinauskas Bruce Nelson Pat Strine Ed Milligan Neil Boucher Nick Nechay Mike McGinnis Greg Kahlert Quinn Vo Joe Szymanski Marcos Braz John Payne Walter Teeter Chris Dreher Brian Milnamow Jonathan Pascoe Amy Goldschmidt

INDIVIDUALS COMPANY

Wilson Bradley Joseph Mandato Arthur Marshall Peter Spellar Jeffrey Sutton Walter Teeter Donal Ballou* JW Bowles* Rudy Nechay* Will Stoecker* *Deceased 10 | AMMONIA REFRIGERATION FOUNDATION

EVAPCO, Inc. EVAPCO, Inc. AAIM-Danfoss Controls, Inc SGS Refrigeration MR. Ammonia Refrigeration Republic Refrigeration, Inc. RSC Refrigeration, Inc. EVAPCO, Inc. The Nechay Family University of Illinois

FOUNDATION LEADERSHIP MOVING FORWARD

Ammonia Refrigeration Foundation Board of Directors FY 2019 to 2020 Pictured left to right:

Wayne Wehber Mark Stencel Don Fetzer Dave Malinauskas Bruce Nelson, Secretary Quinn Vo Dave Rule, IIAR President John Payne, Treasurer Mike Lynch, Chair Joe Mandato (not present for photo)

FY 2018–2019 ANNUAL REPORT | 11

STATEMENT OF FINANCIAL POSITION JUNE 30, 2019 AND 2018

Current YTD

Prior YTD

6/30/2019 6/30/2018

ASSETS Operating Cash

$190,637.71

$109,453.01

Investments — Cash & Equivalents

206,867.81

904.53

1,925,911.56

2,126,534.25

41,825.52

42,183.45

2,365,242.60

2,279,075.24

Investments — Equities & Fixed Income Investments — Charitable Remainder Trust

Pledges Receivable

930,000.00

260,000.00

Accounts Receivable Other

1,125.00

Fixed Assets, Net

1,574.34

8,803.86

932,699.34

268,803.86

TOTAL ASSETS

$3,297,941.94

$2,547,879.10

LIABILITIES AND NET ASSETS

Accounts payable and accrued expenses

$63,374.03

$65,463.25

Due to IIAR

(9,485.86)

13,101.93

Charitable Remainder Trust Liability

28,351.65

30,387.18

82,239.82

108,952.36

Total Liabilities

Beginning Net Assets (Unrestricted) Current Change in Net Assets Total Net Assets

2,438,926.74

2,419,133.38

776,775.38

19,793.36

3,215,702.12

2,438,926.74

TOTAL LIABILITIES AND NET ASSETS

12 | AMMONIA REFRIGERATION FOUNDATION

$3,297,941.94

$2,547,879.10

Your Ammonia Refrigeration Foundation is a 501(c)(3) education and research organization celebrating 13 years of support for the Advancement of Natural Refrigeration.

All contributions are an investment in the future of sustainable refrigeration and are fully tax deductible.

I I AR.ORG /FOUNDAT ION

FY 2018–2019 ANNUAL REPORT | 13

1001 North Fairfax Street Suite 503 Alexandria, VA 22314 (703) 312-4200 info@IIAR.org/Foundation