Des Moines Electrical Apprenticeship Training Trust

Nonprofit profile at a glance

EIN
462895898
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Urbandale, IA, USA
Phone
5152244349
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$3,675,292
Expenses
$2,339,751
Assets
$18,420,617
Liabilities
$73,818

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

Leadership & pay

14 people listed

Highest reported compensation

  • STEVE HANSEN (Training Dir): $173,602 total reported compensation
  • STEPHEN COXE (INSTRUCTOR): $148,164 total reported compensation
  • DEREK INGLE (INSTRUCTOR): $148,116 total reported compensation

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

Overview

Mission

The Trust's mission is to educate the members of the International Brotherhood of Electrical Workers and National Electrical Contractors Association; insuring and providing the electrical industry with the most professionally trained and highly skilled workforce possible.

What it reported doing in 2024

The Trust was organized for the exclusive purpose of providing training and education of electrical apprentices, journeyman, or other appropriate persons who fall under the jurisdiction of the collective bargaining agreement by and between the Local Union #347 of the International Brotherhood of Electrical Workers (Union) and the Des Moines Division, Iowa Chapter, National Electrical Contractors Association, Inc. (Employer). The Trust employs licensed electrician instructors, who educate, instruct, and train apprentice students and journeyman electricians under a variety of class structures. The Trust operates a five year apprentice training program. The Trust offers journeyman training classes as needed/required to ensure journeyman electricians are equipped with the latest electrical industry code and safety information. The Trust is funded by contributions from the Employer and Union in the amount and manner provided in the current collective bargaining agreement by and between the Employer and Union.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.7%; rating input score 42
  • Program expense ratio: 76.9%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 36.3%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 7.87; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 38.9%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 13% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 16.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 41.7% of revenue deployed · 76.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $174K · 14 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.