Ibew Local 351 Jatc Fund
- Assets
- $6.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 22
- Location
- Folsom, NJ
- Founding
- 01/1971
- Data as of
- 09/2023
- EIN
- 23-7116450
Organization Overview
Ibew Local 351 Jatc Fund is located in Folsom, NJ. The organization was established in 1971. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 09/2023, Ibew Local 351 Jatc Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ibew Local 351 Jatc Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Ibew Local 351 Jatc Fund generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2023. 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
THIS PROGRAM PROVIDES TRAINING AND EDUCATIONAL PROGRAMS FOR THE MEMBERS OF THE IBEW LOCAL 351.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS PROGRAM PROVIDES TRAINING AND EDUCATIONAL PROGRAMS FOR THE MEMBERS OF THE IBEW LOCAL 351.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Cosner Chairman | Trustee | 1 | $0 |
Thomas Peterson Secretary | Trustee | 1 | $0 |
Charles Della Vecchia Union Representative | Trustee | 1 | $0 |
John Gray Union Representative | Trustee | 1 | $0 |
Stephen Gandy Union Representative | Trustee | 1 | $0 |
Edward Reiser Union Representative | 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 | $1,081,538 |
| Investment income | $31,105 |
| 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 | $1,247,093 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $471,938 |
| Pension plan accruals and contributions | $49,367 |
| Other employee benefits | $116,893 |
| Payroll taxes | $46,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $7,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,128 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,755 |
| Office expenses | $7,057 |
| Information technology | $28,527 |
| Royalties | $0 |
| Occupancy | $95,838 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,385 |
| Interest | $58,884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $162,064 |
| Insurance | $30,303 |
| All other expenses | $34,279 |
| Total functional expenses | $1,393,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,405,337 |
| 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 | $4,234,114 |
| Investments—publicly traded securities | $749,728 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,389,179 |
| Accounts payable and accrued expenses | $3,440 |
| 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 | $1,592,315 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,595,755 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,389,179 |