Massachusetts Electrical Contracto… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

Dave Bennett

Phone

7813209811

Tax Period

2024-01-01 to 2024-12-31

Massachusetts Electrical Contractors Association Inc, founded in 1937, is a small nonprofit that reported $170K in total revenue in fiscal year 2024. Revenue fell 71% from the prior year — a significant decline worth monitoring. Expenses of $254K exceeded revenue, resulting in a 50% operating deficit.

Mission

To provide benefits to members and promote public safety

Program Service Accomplishments

Program 1

MECA develops educational classes and seminars throughout the year to update members on new code regulations and professional development. In 2024 MECA held one seminar/class in 15-hour code seminar and one in 6 hour professional development. There was a total of 39 participants in all the classes/seminars.

Program 2

Provides services to about 304 members--offering insurance, publishing a semiannual newsletter sent to approximately 424 recipients on the industry and association, printing an annual directory of...

Provides services to about 304 members--offering insurance, publishing a semiannual newsletter sent to approximately 424 recipients on the industry and association, printing an annual directory of all members and networking opportunities at the monthly regional meetings and the annual meeting.

Program 3

One of MECA's primary responsibilities is to track regulations that effect the electrician's trade and track trends to protect business and right to work. MECA worked diligently on several House...

One of MECA's primary responsibilities is to track regulations that effect the electrician's trade and track trends to protect business and right to work. MECA worked diligently on several House bills that relate to the electrical industry. MECA worked in partnership with other organizations and Associations in order to collaborate critical changes in numerous House and Senate Bills.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $109,690

Investment Income $16,087

Other Revenue $44,148

TOTAL REVENUE $169,925

Expense Breakdown

Grants Paid $0

Salaries & Benefits $120,827

Fundraising Expenses $0

Other Expenses $133,242

TOTAL EXPENSES $254,069

Year-over-Year Comparison

	2024	2023	Change
Revenue	$169,925	$581,694	-0.7%
Expenses	$254,069	$277,351	-0.1%
Net Income	$-84,144	$304,343	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dave Bennett	President	5.00	Officer Director	$0	$0	$0
David McArthur	Vice President	2.00	Officer Director	$0	$0	$0
Mark Flores	Vice President	2.00	Officer Director	$0	$0	$0
Lorenzo Scarnici	Secretary	2.00	Officer Director	$0	$0	$0
Dan Cleary	Treasurer	2.00	Officer Director	$0	$0	$0
Sam Doucet	Director	2.00	Director	$0	$0	$0
Rick Viveiros	Director	2.00	Director	$0	$0	$0
Bernard Greenwood	Director	2.00	Director	$0	$0	$0
Ken Sparrow	Director	2.00	Director	$0	$0	$0
Paul Kennedy	Director	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$169,925	$254,069	$504,796	$-84,144
2023	$581,694	$277,351	$586,361	$304,343
2022	$272,400	$262,130	$1,142,631	$10,270
2021	$78,767	$202,908	$270,049	$-124,141
2020	$461,475	$195,849	$395,032	$265,626
2019	$158,173	$219,076	$1,809,375	$-60,903
2018	$131,285	$217,779	$251,341	$-86,494

Massachusetts Electrical Contractors Association Inc