Southern California IBEW-NECA Supplemental Unemployment Benefit Trust Fund

EIN: 467214939 Mutual Benefit

Pasadena, CA

Total Revenue
$3,057,930
Total Expenses
$704,450
Total Assets
$43,528,758
Net Assets
$43,453,577
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
CA
Principal Officer
DARRIC SORKO-RAM
Phone
3232215861
Tax Period
2023-07-01 to 2024-06-30

Southern California IBEW-NECA Supplemental Unemployment Benefit Trust Fund, founded in 2013, is a community nonprofit in the Mutual Benefit sector that reported $3.1M in total revenue in fiscal year 2023. Revenue fell 61% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.4M, a strong 77% operating margin.

Mission

THE SOUTHERN CALIFORNIA IBEW-NECA SUPPLEMENTAL UNEMPLOYMENT BENEFIT TRUST FUND IS A MULTI-EMPLOYER BENEFIT PLAN CREATED IN 2013 FOR THE PURPOSE OF PROVIDING PAYMENTS THAT SUPPLEMENT STATE UNEMPLOYMENT COMPENSATION FOR PARTICIPANTS WHOSE EMPLOYMENT WITH AN EMPLOYER IS TERMINATED INVOLUNTARILY DUE TO LACK OF WORK OR A REDUCTION IN WORK FORCE.

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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 $1,077,452
Investment Income $1,978,881
Other Revenue $1,597
TOTAL REVENUE $3,057,930

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $153,755
TOTAL EXPENSES $704,450

Year-over-Year Comparison

2023 2022 Change
Revenue $3,057,930 $7,879,131 -0.6%
Expenses $704,450 $973,925 -0.3%
Net Income $2,353,480 $6,905,206 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
N/A
Employees
806
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
james m willson management trustee 1.0
Director
$0 $0 $0
ERIC CARTIER management trustee 1.0
Director
$0 $0 $0
sean mckenna management trustee 1.0
Director
$0 $0 $0
joel barton union trustee 1.0
Director
$0 $0 $0
ROBERT CORONA union trustee 1.0
Director
$0 $0 $0
gaylord rusty roten union trustee 1.0
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 $3,057,930 $704,450 $43,528,758 $2,353,480
2023 $7,879,131 $973,925 $40,285,693 $6,905,206
2022 $7,555,576 $599,104 $34,433,448 $6,956,472
2021 $6,579,522 $1,394,424 $31,110,899 $5,185,098
2020 $7,433,653 $958,302 $26,688,384 $6,475,351
2019 $7,067,497 $218,966 $19,134,135 $6,848,531
2018 $5,043,460 $186,463 $12,536,835 $4,856,997
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