Independent Electrical Contractors Inc
- Assets
- $772.2k
- Revenue
- $462.5k
- Investments
- $64.5k
- Employees
- 4
- Location
- Lexington, KY
- Founding
- 05/1991
- Data as of
- 12/2021
- EIN
- 61-1170072
Organization Overview
Independent Electrical Contractors Inc is located in Lexington, KY. The organization was established in 1991. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Independent Electrical Contractors Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Electrical Contractors Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Independent Electrical Contractors Inc generated $462.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $399.6k during the year ending 12/2021. While expenses have increased by 4.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION AND TRAINING OF ELECTRICAL CONTRACTORS AND WORKERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND TRAINING OF ELECTRICAL CONTRACTORS AND WORKERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Barnes Executive Di | Trustee | 40 | $68,074 |
Robin Cook Vice Preside | Officer | $0 | |
Tim Robertson Treasurer | Officer | $0 | |
Nathan Nelson President | Officer | $0 | |
Aj Horvath Secretary | Officer | $0 | |
Jason Staples Director | Trustee | $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 | $457,267 |
| Investment income | $5,249 |
| 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 | $462,516 |
| 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. | $68,074 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,988 |
| Pension plan accruals and contributions | $756 |
| Other employee benefits | $13,763 |
| Payroll taxes | $14,040 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,452 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75 |
| Fees for services: Other | $0 |
| Advertising and promotion | $48 |
| Office expenses | $1,408 |
| 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 | $8,571 |
| Interest | $5,597 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,460 |
| Insurance | $8,920 |
| All other expenses | $36,493 |
| Total functional expenses | $399,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,455 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,687 |
| 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 | $427,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $64,450 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $772,173 |
| 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 | $64,699 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $64,699 |
| Net assets without donor restrictions | $707,474 |
| 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 | $772,173 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independent Electrical Contractors Inc has recieved totaling $20,176.
| Awarding Organization | Amount |
|---|---|
Independent Electrical Contractors Foundation Monroeville, PA PURPOSE: EQUIPMENT FOR TRAINING CENTER LABS | $20,176 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
Sequachee Valley Electric Cooperative South Pittsburg, TN | $165,775,520 | $105,669,415 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |
Fleming-Mason Energy Cooperative Inc Flemingsburg, KY | $142,667,683 | $79,467,396 |
A & N Electric Cooperative Tasley, VA | $203,944,683 | $76,232,163 |