Apprenticeship Education and Training Fund Inc

Nonprofit profile at a glance

EIN
844631510
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Somerset, NJ, USA
Phone
7322762295
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Official website

Reported finances

Revenue
$407,050
Expenses
$231,054
Assets
$560,762
Liabilities
$21,027

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

Leadership & pay

5 people listed

People named in this filing

  • JOE ESPOSITO (Chairman)
  • JOSEPH SPINELLA (Treasurer)
  • JOE COVIELLO (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To conduct and help facilitate craft training programs sponsored by the nj independent electrical contractors, a nonprofit trade association tax exempt under section 501(c)(6) of the code, for individuals who are seeking to become electricians in the electrical industry. The programs will consist of a mix of classroom instruction and manual training taught by skilled instructions.

What it reported doing in 2024

To conduct and help facilitate craft training programs

Operating model

Revenue model
Earned-program. 70% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 93
  • Accountability: 64
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.9%; rating input score 56
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 43.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 30.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 55.9% of revenue deployed · 98.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $227K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.