Waterloo Joint Apprenticeship Training Trust
Nonprofit profile at a glance
- EIN
- 462897706
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-EZ 2019
- Location
- Waterloo, IA, US
- Phone
- 319.232.5374
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Vocational, Technical Schools
Reported finances
- Revenue
- $275,970
- Expenses
- $293,990
- Assets
- $448,223
- Liabilities
- $1,335
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Highest reported compensation
- CHRISTINA HENZEN (TRAINING DIR): $37,806 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 administer the apprenticeship and training programs for the electrical contracting industry in the waterloo area of Iowa.
What it reported doing in 2024
Training services for apprentices and journeymen electricians.
Operating model
- Revenue model
- Earned-program. 87% 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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 90
- Accountability: 74
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 75.6%; rating input score 76
- Program expense ratio: 74.6%; rating input score 75
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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 9 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: Limited
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -6.5%; rating input score 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 1.52; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 12.9%; rating input score 26; 26th percentile among comparable filings
Growth
- Program expense growth: 10.9% per year; rating input score 100; 72nd percentile among comparable filings
- Revenue growth: 7.2% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: 6.8% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: 75.6% of revenue deployed · 74.6% of spending went to programs
- Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $219K in reported program spending
- Leadership: top reported pay $38K · 9 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- High — Sustainability: Operating margin scored 27/100.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- High — Sustainability: Officer compensation ratio scored 26/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.