Iec Foundation for Training

Nonprofit profile at a glance

EIN
853834237
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Indianapolis, IN, USA
Phone
3175621102
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$965,410
Expenses
$1,022,099
Assets
$537,276
Liabilities
$551,801

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

Leadership & pay

11 people listed

Executive titles in this filing

  • DAVID KINDER (PRESIDENT)
  • BLAKE BEHR (VICE PRESIDENT)
  • RAUL VASQUEZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RAUL VASQUEZ (EXECUTIVE DIRECTOR): $125,602 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 mission of iec is to enhance the independent electrical contractor's success by developing a professional workforce, communicating clearly with government, promoting ethical businesspractices, and providing leadership for the electrical industry.

What it reported doing in 2024

To enhance the independent electrical contractor's success bydeveloping a professional workforce, communicating clearly withgovernment, promoting ethical business practices, and providingleadership for the electrical industry.

Operating model

Revenue model
Earned-program. 99% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 74
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.4%; rating input score 79
  • Program expense ratio: 75.7%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.9%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 1.03; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 23.8% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 16% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 79.4% of revenue deployed · 75.7% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $774K in reported program spending
  • Leadership: top reported pay $126K · 11 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.