IBEW LOCAL #1426

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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

1944

Legal Domicile

Principal Officer

JEREMY DENAULT

Phone

7017757601

Tax Period

2023-01-01 to 2023-12-31

IBEW LOCAL #1426, founded in 1944, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $513K, a strong 27% operating margin.

Mission

TO ORGANIZE ALL WORKERS IN THE ENTIRE ELECTRICAL INDUSTRY IN THE UNITED STATES AND CANADA, INCLUDING ALL THOSE IN PUBLIC UTILITIES AND ELECTRICAL MANUFACTURING, INTO LOCAL UNIONS; TO PROMOTE REASONABLE METHODS OF WORK; TO CULTIVATE FEELINGS OF FRIENDSHIP AMONG THOSE OF OUR INDUSTRY; TO SETTLE ALL DISPUTES BETWEEN EMPLOYERS AND EMPLOYEES BY ARBITRATION (IF POSSIBLE); TO ASSIST EACH OTHER IN SICKNESS OR DISTRESS; TO SECURE EMPLOYMENT; TO REDUCE THE HOURS OF DAILY LABOR; TO SECURE ADEQUATE PAY FOR OUR WORK; TO SEEK A HIGHER STANDARD OF LIVING; TO SEEK SECURITY FOR THE INDIVIDUAL; AND BY LEGAL AND PROPER MEANS, TO ELEVATE THE MORAL, INTELLECTUAL AND SOCIAL CONDITIONS OF OUR MEMBERS, THEIR FAMILIES AND DEPENDENTS, IN THE INTEREST OF A HIGHER STANDARD OF CITIZENSHIP.

Program Service Accomplishments

Program 1

AMONG THE ACTIVITIES OF THE UNION ARE (1) SOCIAL FUNDS FOR THE PURPOSE OF GROUP INTERACTION FOLLOWING, AND IN CONJUNCTION WITH, LOCAL UNION MEETINGS AND TO PROVIDE MEMBERS THE OPPORTUNITY FOR...

AMONG THE ACTIVITIES OF THE UNION ARE (1) SOCIAL FUNDS FOR THE PURPOSE OF GROUP INTERACTION FOLLOWING, AND IN CONJUNCTION WITH, LOCAL UNION MEETINGS AND TO PROVIDE MEMBERS THE OPPORTUNITY FOR DISCUSSION, (2) SCHOLARSHIP FUNDS FOR THE PURPOSE OF HELPING THE CHILDREN OF MEMBERS TO FURTHER THEIR EDUCATION, (3) MEMORIALS FOR DECEASED MEMBERS, RETIREES, COMMUNITIES, WHICH IN TURN HELPS OUR MEMBERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,897,964

Investment Income $26,308

Other Revenue $0

TOTAL REVENUE $1,924,272

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $679,175

Fundraising Expenses $0

Other Expenses $729,143

TOTAL EXPENSES $1,410,818

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,924,272	$1,588,185	+0.2%
Expenses	$1,410,818	$1,430,085	0.0%
Net Income	$513,454	$158,100	+2.2%

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

$169,149

Total Directors

$19,589

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON SUCKUT	PRESIDENT	2.00	Officer Director	$1,710	$0	$1,710
ALEX KAUTZ	TREASURER	1.00	Officer Director	$4,110	$0	$4,110
JON KUEHN	SECRETARY	2.00	Officer Director	$1,200	$0	$1,200
JEREMY KRAUSE	DIRECTOR	1.00	Director	$1,975	$0	$1,975
DEREK SONDREAL	DIRECTOR	1.00	Director	$1,200	$0	$1,200
GREGORY GUSTAFSON	DIRECTOR	1.00	Director	$1,800	$0	$1,800
KEVIN DAHLEN	VICE PRESIDENT	1.00	Officer Director	$1,800	$0	$1,800
TROY O'DONNELL	DIRECTOR	1.00	Director	$3,994	$0	$3,994
JASON JOHNSON	DIRECTOR	1.00	Director	$1,800	$0	$1,800
JEREMY DENAULT	BUSINESS MANAGER	40.00	Officer	$133,955	$26,374	$160,329
DILLON ENNIGA	ASSISTANT BUSINESS MANAGER	40.00	Highest	$120,560	$26,374	$146,934

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	$1,924,272	$1,410,818	$4,083,581	$513,454
2022	$1,588,185	$1,430,085	$3,551,252	$158,100
2021	$1,440,870	$1,464,763	$3,436,642	$-23,893
2020	$1,453,657	$1,330,020	$3,391,846	$123,637
2019	$1,509,925	$1,303,221	$3,334,932	$206,704
2018	$1,274,635	$1,208,495	$3,122,528	$66,140