Des Moines Electrical Apprenticeship Training Trust
- Assets
- $17.0m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 10
- Location
- Urbandale, IA
- Founding
- 09/2014
- Data as of
- 05/2024
- EIN
- 46-2895898
Organization Overview
Des Moines Electrical Apprenticeship Training Trust is located in Urbandale, IA. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 05/2024, Des Moines Electrical Apprenticeship Training Trust employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Des Moines Electrical Apprenticeship Training Trust 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 05/2024, Des Moines Electrical Apprenticeship Training Trust generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.1m during the year ending 05/2024. While expenses have increased by 8.9% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE TRUST'S MISSION IS TO EDUCATE THE MEMBERS OF THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS AND NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION; INSURING AND PROVIDING THE ELECTRICAL INDUSTRY WITH THE MOST PROFESSIONALLY TRAINED AND HIGHLY SKILLED WORKFORCE POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF PROVIDING TRAINING AND EDUCATION OF ELECTRICAL APPRENTICES, JOURNEYMAN, OR OTHER APPROPRIATE PERSONS WHO FALL UNDER THE JURISDICTION OF THE COLLECTIVE BARGAINING AGREEMENT BY AND BETWEEN THE LOCAL UNION #347 OF THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS (UNION) AND THE DES MOINES DIVISION, IOWA CHAPTER, NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION, INC. (EMPLOYER). THE TRUST EMPLOYS LICENSED ELECTRICIAN INSTRUCTORS, WHO EDUCATE, INSTRUCT, AND TRAIN APPRENTICE STUDENTS AND JOURNEYMAN ELECTRICIANS UNDER A VARIETY OF CLASS STRUCTURES. THE TRUST OPERATES A FIVE YEAR APPRENTICE TRAINING PROGRAM. THE TRUST OFFERS JOURNEYMAN TRAINING CLASSES AS NEEDED/REQUIRED TO ENSURE JOURNEYMAN ELECTRICIANS ARE EQUIPPED WITH THE LATEST ELECTRICAL INDUSTRY CODE AND SAFETY INFORMATION. THE TRUST IS FUNDED BY CONTRIBUTIONS FROM THE EMPLOYER AND UNION IN THE AMOUNT AND MANNER PROVIDED IN THE CURRENT COLLECTIVE BARGAINING AGREEMENT BY AND BETWEEN THE EMPLOYER AND UNION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Hansen Training Dir | OfficerTrustee | 40 | $117,173 |
Scott Gardner Trustee | Trustee | 1 | $0 |
Christopher Barr Trustee | Trustee | 1 | $0 |
Michael Duffy Chairman | OfficerTrustee | 1 | $0 |
Joe Porepp Trustee | Trustee | 1 | $0 |
Terry Pohlman Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $207,901 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,615 |
| Noncash contributions included in lines 1a–1f | $39,615 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $247,516 |
| Total Program Service Revenue | $3,011,784 |
| Investment income | $328,471 |
| 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 | -$6,469 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,711,736 |
| 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. | $127,957 |
| Compensation of current officers, directors, key employees. | $63,979 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $876,777 |
| Pension plan accruals and contributions | $167,890 |
| Other employee benefits | $186,678 |
| Payroll taxes | $76,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,439 |
| Fees for services: Accounting | $24,712 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,417 |
| Office expenses | $34,588 |
| Information technology | $23,000 |
| Royalties | $0 |
| Occupancy | $44,901 |
| Travel | $8,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,284 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $237,241 |
| Insurance | $38,644 |
| All other expenses | $30,229 |
| Total functional expenses | $2,079,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,208 |
| Savings and temporary cash investments | $3,142,215 |
| Pledges and grants receivable | $207,901 |
| Accounts receivable, net | $255,497 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,156 |
| Prepaid expenses and deferred charges | $40,954 |
| Net Land, buildings, and equipment | $6,336,206 |
| Investments—publicly traded securities | $1,133,932 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,505,464 |
| Total assets | $16,991,533 |
| Accounts payable and accrued expenses | $58,790 |
| 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 | $7,285 |
| Total liabilities | $66,075 |
| Net assets without donor restrictions | $16,925,458 |
| 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 | $16,991,533 |