Electrical Joint Apprenticeship & Training Fund Local 388

Nonprofit profile at a glance

EIN
396259511
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Madison, WI, USA
Phone
6082213321
Rating confidence
Limited

Reported finances

Revenue
$231,239
Expenses
$151,565
Assets
$481,026
Liabilities
$0

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

Leadership & pay

6 people listed

People named in this filing

  • PATRICK PALECEK (CHAIRMAN)
  • DEAN MILLER (SECRETARY)
  • MICHAEL VAN ERT (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

A trust fund that supports a program for training and education of apprentice electricians, journey-level worker electricians, and all other electrician classifications in the area covered by the collective bargaining agreement.

What it reported doing in 2024

The trust fund provided programs for the education and training of participants, apprentices, journey-level worker electricians, and all other electrician classifications that are covered by the collective bargaining agreement. Training was provided for approximately ninety-one (91) apprentices and three-hundred-and eighty-six (386) participants, journey level worker electricians, and all other electrician classifications that are covered by the inside collective bargaining agreement during the year. The trust fund also provided training to five (5) instructors through instructor improvement and training courses, and four (4) committee members through conference(s) and/or training course(s).

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

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

Sustainability

  • Operating margin: 34.5%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 3.17; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 10.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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.