Local Union 400 Ibew Joint Apprentice & Training Committee

Nonprofit profile at a glance

EIN
221951385
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Wall, NJ, USA
Phone
7322807703
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$849,155
Expenses
$873,807
Assets
$2,135,143
Liabilities
$142,682

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

Leadership & pay

7 people listed

Highest reported compensation

  • ROBERT SHIMKO (TRUSTEE): $384,049 total reported compensation
  • MICHAEL J RICCA (TRUSTEE): $329,179 total reported compensation
  • TODD J LARSEN (TRAINING DIRECTOR): $233,377 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 organization trains individuals to serve as qualified electricians.

Operating model

Revenue model
Earned-program. 83% 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 - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 66
  • Accountability: 65
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 65.5%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 14th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: -2.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 2.44; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 60.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 63.7% of revenue deployed · 65.5% of spending went to programs
  • Governance: 4 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $572K in reported program spending
  • Leadership: top reported pay $384K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.