DES MOINES ELECTRICAL APPRENTICESHIP TRAINING TRUST

EIN: 462895898 501(c)(3) Education

URBANDALE, IA

Total Revenue
$3,711,736
Total Expenses
$2,079,444
Total Assets
$16,991,533
Net Assets
$16,925,458
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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
2013
Legal Domicile
IA
Principal Officer
CHAD LOWE
Phone
5152244349
Tax Period
2023-06-01 to 2024-05-31

DES MOINES ELECTRICAL APPRENTICESHIP TRAINING TRUST, founded in 2013, is a community nonprofit in the Education sector that reported $3.7M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.6M, a strong 44% operating margin.

Mission

The Trust's mission is to educate the members of the International Brotherhood of Electrical Workers and National Electrical Contractors Association; insuring and providing the electrical industry with the most professionally trained and highly skilled workforce possible.

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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 $247,516
Program Service Revenue $3,011,784
Investment Income $328,471
Other Revenue $123,965
TOTAL REVENUE $3,711,736

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,435,824
Fundraising Expenses $0
Program Expenses $1,628,516
Other Expenses $643,620
TOTAL EXPENSES $2,079,444

Year-over-Year Comparison

2023 2022 Change
Revenue $3,711,736 $3,283,120 +0.1%
Expenses $2,079,444 $1,800,213 +0.2%
Net Income $1,632,292 $1,482,907 +0.1%
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
8
Employees
10
Volunteers
8

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
3
$158,530
Total Directors
9
$158,530
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE HANSEN Training Dir 40.00
Officer Director
$117,173 $41,357 $158,530
SCOTT GARDNER Trustee 1.00
Director
$0 $0 $0
CHRISTOPHER BARR Trustee 1.00
Director
$0 $0 $0
MICHAEL DUFFY Chairman 1.00
Officer Director
$0 $0 $0
JOE POREPP Trustee 1.00
Director
$0 $0 $0
TERRY POHLMAN Trustee 1.00
Director
$0 $0 $0
DOUG GOFORTH Trustee 1.00
Director
$0 $0 $0
MICHAEL LIPP Trustee 1.00
Director
$0 $0 $0
CHAD LOWE Vice Chairman 1.00
Officer 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
2025 No data No data No data No data
2024 $3,711,736 $2,079,444 $16,991,533 $1,632,292
2023 $3,283,120 $1,800,213 $15,188,746 $1,482,907
2022 $2,918,913 $1,778,877 $13,772,379 $1,140,036
2021 $3,073,237 $1,682,596 $12,818,140 $1,390,641
2020 $2,278,112 $1,509,851 $11,382,341 $768,261
2019 $4,166,037 $1,553,616 $10,518,558 $2,612,421
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