IBEW LOCAL 1049 CRAFT DIVISION SKILL IMPROVEMENT FUND

EIN: 113078707 501(c)(3) Education

HOLTSVILLE, NY

Total Revenue
$2,229,327
Total Expenses
$2,434,131
Total Assets
$15,990,107
Net Assets
$15,770,113
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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
1992
Legal Domicile
NY
Principal Officer
PATRICK GUIDICE III
Phone
6312341803
Tax Period
2023-01-01 to 2023-12-31

IBEW LOCAL 1049 CRAFT DIVISION SKILL IMPROVEMENT FUND, founded in 1992, is a community nonprofit in the Education sector that reported $2.2M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Net assets of $15.8M represent 85 months of operating reserves.

Mission

TO ESTABLISH AND PROMOTE TRAINING AND OTHER RELATED PROGRAMS FOR ELIGIBLE PARTICIPANTS.

Program Service Accomplishments

Program 1
Expenses: $2,184,634

ESTABLISHED AND PROMOTED TRAINING AND OTHER RELATED PROGRAMS FOR ELIGIBLE PARTICIPANTS.

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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 $2,186,442
Investment Income $32,214
Other Revenue $10,671
TOTAL REVENUE $2,229,327

Expense Breakdown

Grants Paid $0
Salaries & Benefits $811,628
Fundraising Expenses $0
Program Expenses $2,184,634
Other Expenses $249,497
TOTAL EXPENSES $2,434,131

Year-over-Year Comparison

2023 2022 Change
Revenue $2,229,327 $1,941,838 +0.1%
Expenses $2,434,131 $2,440,045 0.0%
Net Income $-204,804 $-498,207 -0.6%
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
5
Independent Members
6
Employees
14
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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRYAN HUGHES-GARIEPY SAFETY DIRECTOR 52.00
$219,755 $94,063 $313,818
Daniel Rossano INSTRUCTOR 52.00
$167,245 $78,102 $245,347
JEANNINE DEVLIN DIRECTOR 5.00
$0 $67,827 $238,839
MICHAEL GILCHRIST Trustee 1.00
Director
$0 $0 $0
JESSICA O'NEILL Trustee 1.00
Director
$0 $0 $0
JOSEPH HAUGLAND Trustee 1.00
Director
$0 $0 $0
JAMES BOGEN Trustee 1.00
Director
$0 $0 $0
Patrick Guidice III Trustee 1.00
Director
$0 $0 $0
JAMES COOPER Trustee 1.00
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 No data No data No data No data
2023 $2,229,327 $2,434,131 $15,990,107 $-204,804
2022 $1,941,838 $2,440,045 $15,015,746 $-498,207
2021 $3,796,276 $2,659,210 $17,407,469 $1,137,066
2020 $4,433,329 $2,259,024 $16,067,226 $2,174,305
2019 $3,066,141 $2,074,832 $13,459,624 $991,309
2018 $3,241,878 $2,128,632 $11,697,223 $1,113,246
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