I E C Chesapeake Apprenticeship & Training Inc
- Assets
- $5.0m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Laurel, MD
- Founding
- 04/1998
- Data as of
- 06/2024
- EIN
- 52-2048675
Organization Overview
I E C Chesapeake Apprenticeship & Training Inc is located in Laurel, MD. The organization was established in 1998. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I E C Chesapeake Apprenticeship & Training Inc 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 06/2024, I E C Chesapeake Apprenticeship & Training Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $3.0m during the year ending 06/2024. While expenses have increased by 10.5% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TRAINING TO SKILLED AND KNOWLEDGEABLE TRADESMAN AND PROVIDE CONTINUING EDUCATION AND SEMINARS TO ELECTRICAL JOURNEYMAN IN THE ELECTRICAL FIELD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE TRAINING TO SKILLED AND KNOWLEDGEABLE TRADESMAN AND PROVIDE CONTINUING EDUCATION AND SEMINARS TO ELECTRICAL JOURNEYMAN IN THE ELECTRICAL FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Weisman Past President | OfficerTrustee | 1 | $0 |
Scott R Bowers President | OfficerTrustee | 1 | $0 |
Mike Veltri Vice President | OfficerTrustee | 1 | $0 |
Chad Cook Secretary/treasurer | Trustee | 1 | $0 |
Frankln Chaney Apprentice Committe Chair | OfficerTrustee | 1 | $0 |
Dale Kerns Governmental Affiars Commi | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,050 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,075 |
| Total Program Service Revenue | $3,426,221 |
| Investment income | $78,685 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,429 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$28,099 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,705,880 |
| 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. | $100,223 |
| Compensation of current officers, directors, key employees. | $21,613 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,178,545 |
| Pension plan accruals and contributions | $13,824 |
| Other employee benefits | $87,868 |
| Payroll taxes | $73,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,086 |
| Advertising and promotion | $95,060 |
| Office expenses | $91,525 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $408,439 |
| Travel | $47,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,236 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,639 |
| Insurance | $13,143 |
| All other expenses | $2,799 |
| Total functional expenses | $2,981,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,242 |
| Savings and temporary cash investments | $1,847,935 |
| 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 | $5,742 |
| Net Land, buildings, and equipment | $223,446 |
| Investments—publicly traded securities | $2,752,455 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,985,820 |
| Accounts payable and accrued expenses | $105,158 |
| Grants payable | $0 |
| Deferred revenue | $399,863 |
| 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 | $505,021 |
| Net assets without donor restrictions | $4,480,799 |
| 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 | $4,985,820 |