Madison Electrical Joint Apprenticeship and Training Trust Fund

Nonprofit profile at a glance

EIN
237040550
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6082213321
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$2,276,687
Expenses
$1,945,963
Assets
$2,334,299
Liabilities
$0

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

Leadership & pay

7 people listed

People named in this filing

  • RODNEY HOWARD (CHAIRMAN)
  • MITCH LARSON (TRUSTEE)
  • CRISTIAN GUTIERREZ (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 the education and training of participants, apprentices, journey worker electricians, and all other electrician classifications that are 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 278 apprentices and 1,139 participants, journey level worker electricians, and all other electrician classifications that are covered by the collective bargaining agreement during the year. The trust fund also provided training to 12 instructors through instructor improvement and training courses and 7 committee members and 2 outstanding apprentices through a conference and training courses.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 79% of its reported program spending for member benefits.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.2%; rating input score 84
  • Program expense ratio: 98.8%; rating input score 99
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.5%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.2; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 8.6% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 84.2% of revenue deployed · 98.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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: Audit committee oversight not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.