L U No 488 Ibew Joint Apprenticeship Training Fund
- Assets
- $1.3m
- Revenue
- $521.7k
- Investments
- $0.0
- Employees
- 9
- Location
- Monroe, CT
- Founding
- 06/1978
- Data as of
- 12/2023
- EIN
- 06-0976668
Organization Overview
L U No 488 Ibew Joint Apprenticeship Training Fund is located in Monroe, CT. The organization was established in 1978. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2023, L U No 488 Ibew Joint Apprenticeship Training Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. L U No 488 Ibew Joint Apprenticeship Training Fund is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2023, L U No 488 Ibew Joint Apprenticeship Training Fund generated $521.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $564.7k during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS A TRAINING ORGANIZATION FOR FUTURE ELECTRICIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES EDUCATION & TRAINING OF INDIVIDUALS SERVING THEIR APPRENTICESHIP AS ELECTRICIANS. APPRENTICESHIP TRAINING PROVIDED FOR 68 INDIVIDUALS AT VARIOUS STAGES OF THEIR 5 YEAR PROGRAM.
THE ORGANIZATION PROVIDES CONTINUING EDUCATION & TRAINING OF CURRENT JOURNEYMAN ELECTRICIANS. STATE MANDATED CONTINUING EDUCATION PROVIDED FOR JOURNEYMAN ELECTRICIANS. OSHA TRAINING PROVIDED FOR INDIVIDUALS. FIRST AID & CPR TRAINING PROVIDED FOR MEMBERS.
PROVIDED A WEEK OF TRAINING FOR TEACHERS AND APPRENTICES AT THE NATIONAL TRAINING INSTITUTE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Moconyi Chairman | Trustee | 1 | $0 |
Willie Mcbride Jatc Com Management | Trustee | 1 | $0 |
Patrick Lewis Jatc Com Management | Trustee | 1 | $0 |
Daniel Mcinerney Jatc Com Labor/secretary | Trustee | 2 | $1,822 |
Rashell Osborne Jatc Com Labor | Trustee | 1 | $0 |
Anthony Cavalli Jatc Com Labor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $490,319 |
| Investment income | $31,349 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $521,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,877 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,048 |
| Pension plan accruals and contributions | $55,202 |
| Other employee benefits | $24,495 |
| Payroll taxes | $15,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,400 |
| Fees for services: Accounting | $8,586 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,970 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,450 |
| Information technology | $189 |
| Royalties | $0 |
| Occupancy | $144,627 |
| Travel | $15,659 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,551 |
| Interest | $0 |
| Payments to affiliates | $200 |
| Depreciation, depletion, and amortization | $11,373 |
| Insurance | $1,005 |
| All other expenses | $4,924 |
| Total functional expenses | $564,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,538 |
| Savings and temporary cash investments | $218,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,117 |
| Investments—publicly traded securities | $1,022,391 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,989 |
| Total assets | $1,273,174 |
| Accounts payable and accrued expenses | $21 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,273,153 |
| Total liabilities and net assets/fund balances | $1,273,174 |