Independent Electrical Contractors Foundation

Nonprofit profile at a glance

EIN
541814360
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Monroeville, PA, USA
Phone
7039979999
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$2,384,869
Expenses
$2,561,724
Assets
$2,259,786
Liabilities
$105,736

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

Leadership & pay

18 people listed

Executive titles in this filing

  • LANA AL-AMIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LANA AL-AMIN (EXECUTIVE DIRECTOR): $141,340 total reported compensation

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

Overview

Mission

To fund, promote, and support educational opportunites in the electrical and communications industries.

What it reported doing in 2024

Scholarships - the foundation awards scholarships to deserving and qualified students who have demonstrated drive, dedication, and leadership in their pursuit of careers in the electrical industry. The foundation's scholarships are offered to members of the independent electrical contractors, inc. ("iec"), an affiliated entity of the foundation, and their immediate families who plan to pursue post-secondary education in college or state accredited apprenticeship programs.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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: 97
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 92.6%; rating input score 93
  • Fundraising efficiency: $310.48 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.6%; rating input score 99; 35th percentile among comparable filings
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 16.1% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 11.9% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 92.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $141K · 18 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 31 filed money-flow records
  • Related organizations: 27 filed related-organization links
  • 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 — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 50/100.