INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS UNION LOCAL UNION NO 35

EIN: 060400787

HARTFORD, CT

Total Revenue
$1,432,982
Total Expenses
$1,202,067
Total Assets
$3,304,522
Net Assets
$3,214,914
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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
1913
Legal Domicile
CT
Principal Officer
MICHAEL NEALY
Phone
2035255438
Tax Period
2023-01-01 to 2023-12-31

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS UNION LOCAL UNION NO 35, founded in 1913, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $231K, a strong 16% operating margin.

Mission

TO REPRESENT IN LABOR NEGOTIATIONS WITH EMPLOYERS AS IT RELATES TO WAGES, BENEFITS, WORKING CONDITIONS, JOB PROCUREMENT, AND OTHER EMPLOYMENT RELATED ISSUES.

Program Service Accomplishments

Program 1

LOCAL UNION 35 IS AFFILIATED WITH THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS UNION. THE UNION REPRESENTS ITS MEMBERS IN LABOR NEGOTIATIONS WITH EMPLOYERS INVOLVING WAGES, BENEFITS, AND OTHER...

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LOCAL UNION 35 IS AFFILIATED WITH THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS UNION. THE UNION REPRESENTS ITS MEMBERS IN LABOR NEGOTIATIONS WITH EMPLOYERS INVOLVING WAGES, BENEFITS, AND OTHER EMPLOYEMENT RELATED ISSUES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,369,197
Investment Income $54,782
Other Revenue $9,003
TOTAL REVENUE $1,432,982

Expense Breakdown

Grants Paid $147,297
Salaries & Benefits $570,489
Fundraising Expenses $0
Other Expenses $484,281
TOTAL EXPENSES $1,202,067

Year-over-Year Comparison

2023 2022 Change
Revenue $1,432,982 $1,306,182 +0.1%
Expenses $1,202,067 $1,319,204 -0.1%
Net Income $230,915 $-13,022 -18.7%
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

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Governance

Voting Members
8
Independent Members
6
Employees
12
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
5
$410,683
Total Directors
3
$4,105
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HARLEY FONTAINE EXECUTIVE BOARD 1.00
Director
$1,611 $0 $1,611
ADAM CASSETTARI EXECUTIVE BOARD 1.00
Director
$1,574 $0 $1,574
CURTIS DYNAK EXECUTIVE BOARD 1.00
Director
$920 $0 $920
FREDERICK LADD RECORDING SECRETARY 1.00
Officer
$2,287 $0 $2,287
KEITH SAILER VICE PRESIDENT 1.00
Officer
$515 $0 $515
JOHN BOWEN PRESIDENT 5.00
Officer
$118,830 $68,835 $187,665
JEFFREY BAZINET TREASURER 5.00
Officer
$3,485 $0 $3,485
MICHAEL NEALY BUSINESS MANAGER/FIN. SEC. 40.00
Officer
$151,772 $64,959 $216,731
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 No data No data No data No data
2023 $1,432,982 $1,202,067 $3,304,522 $230,915
2022 $1,306,182 $1,319,204 $2,866,853 $-13,022
2021 $1,141,330 $999,382 $3,197,315 $141,948
2020 $859,598 $844,242 $2,918,529 $15,356
2019 $1,277,582 $1,537,105 $2,810,095 $-259,523
2018 $1,072,913 $857,368 $2,877,506 $215,545
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