Job Security Fund of the Electrician Industry
Nonprofit profile at a glance
- EIN
- 364941184
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Flushing, NY, USA
- Phone
- 7185912000
- Rating
- 35
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Labor Unions
Reported finances
- Revenue
- $8,061,856
- Expenses
- $16,254,540
- Assets
- $65,723,433
- Liabilities
- $3,689,065
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
People named in this filing
- Robert Amabile (Trustee)
- Christopher Erikson (Trustee)
- John Mannino (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
The Job Security Fund of the Electrical industry (the Fund) was established on May 2, 2019, pursuant to the Agreement and Working Rules (Collective Bargaining Agreement) between Local Union No. 3 of the International Brotherhood of Electrical Workers, AFL-CIO (Local 3) and the electrical contractors' associations and independent electrical contractors (the Participating Employers). Under the terms of the Collective Bargaining Agreements, The Joint Industry Board of the Electrical Industry (the Board) administers the Fund. The Board on behalf of the Fund collects employer contributions designated for the Benefit and Wage Plan, the Job Targeting Fund and the Employment Plan. The Participating Employers contribute different amounts (based on the Collective Bargaining Agreements) of their weekly standard gross wages.
Operating model
- Revenue model
- Investment-supported. 64% of the money available for current operations came from recurring investment income.
- 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
REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 24
- Sustainability: 43
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 3rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: -101.6%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 4.04; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -5.3% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: 10.7% per year; rating input score 100; 61st percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 7 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 1/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.