Janesville Beloit Electrical Construction Industry Trust Fund
- Assets
- $390.3k
- Revenue
- $244.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 03/1970
- Data as of
- 12/2023
- EIN
- 39-1096844
Organization Overview
Janesville Beloit Electrical Construction Industry Trust Fund is located in Madison, WI. The organization was established in 1970. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Janesville Beloit Electrical Construction Industry Trust 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, Janesville Beloit Electrical Construction Industry Trust Fund generated $244.1k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $189.4k during the year ending 12/2023. While expenses have increased by 7.5% per year over the past 9 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
THE JANESVILLE/BELOIT JOINT ELECTRICAL APPRENTICESHIP & TRAINING TRUST FUND SUPPORTS PROGRAMS FOR TRAINING AND EDUCATION OF APPRENTICE ELECTRICIANS AND JOURNEYWORKER ELECTRICIANS IN THE AREA COVERED BY THE COLLECTIVE BARGAINING AGREEMENT BETWEEN IBEW LOCAL 890 AND THE WISCONSIN CHAPTER OF NECA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE JOINT APPRENTICESHIP & TRAINING TRUST FUND PROVIDED PROGRAMS FOR THE EDUCATION AND TRAINING OF PARTICIPANTS, APPRENTICES, JOURNEYWORKER ELECTRICIANS, AND ALL OTHER ELECTRICIAN CLASSIFICATIONS THAT ARE COVERED BY THE COLLECTIVE BARGAINING AGREEMENT SIGNED BETWEEN IBEW LOCAL 890 AND THE WISCONSIN CHAPTER OF NECA. TRAINING WAS PROVIDED FOR APPROXIMATELY 118 APPRENTICES AND 500 JOURNEYWORKERS DURING THE 2023 FISCAL YEAR. THE TRUST FUND ALSO PROVIDED TRAINING TO 2 INSTRUCTORS THROUGH INSTRUCTOR IMPROVEMENT COURSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leo Sokolik Chairman (thru July) | OfficerTrustee | 1 | $0 |
Kyle Sutter Chairman (from August) | OfficerTrustee | 1 | $0 |
Steve Foley Secretary (thru July) | OfficerTrustee | 1 | $0 |
Benjamin Myers Secretary (from August) | OfficerTrustee | 1 | $0 |
Todd Roethel Trustee | Trustee | 1 | $0 |
Ben Trappe Trustee | 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 | $239,236 |
| Investment income | $4,900 |
| 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 | $244,136 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $35 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,723 |
| Fees for services: Accounting | $3,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,149 |
| Advertising and promotion | $0 |
| Office expenses | $197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,806 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,644 |
| All other expenses | $0 |
| Total functional expenses | $189,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,000 |
| Savings and temporary cash investments | $382,255 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $390,255 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $390,255 |
| 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 | $390,255 |