JOINT APPRENTICESHIP AND TRAINING TRUST FUND LOCAL 103 IBEW (EIN 510201858) - Form 990 Financial Analysis & Trantor Score

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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

1963

Legal Domicile

Principal Officer

MICHAEL P DONOVAN

Phone

6172885999

Tax Period

2024-07-01 to 2025-06-30

JOINT APPRENTICESHIP AND TRAINING TRUST FUND LOCAL 103 IBEW, founded in 1963, is a community nonprofit in the Employment sector that reported $9.3M in total revenue in fiscal year 2024. Expenses of $10.9M exceeded revenue, resulting in a 18% operating deficit.

Mission

PROVIDES EDUCATIONAL COURSES TO UNION 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 (2024)

Revenue Breakdown

Contributions & Grants $56,194

Program Service Revenue $9,109,301

Investment Income $131,990

Other Revenue $0

TOTAL REVENUE $9,297,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,273,306

Fundraising Expenses $0

Program Expenses $9,545,226

Other Expenses $4,669,138

TOTAL EXPENSES $10,942,444

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,297,485	$9,377,541	0.0%
Expenses	$10,942,444	$9,806,015	+0.1%
Net Income	$-1,644,959	$-428,474	+2.8%

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

$276,331

Total Directors

Key Employees

$509,127

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LOUIS J ANTONELLIS	SECRETARY	1.00	Officer Director	$0	$0	$0
RAYMOND B VINTON	TRUSTEE	1.00	Director	$0	$0	$0
DAVID NOON	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT S SHEEHAN JR	TRUSTEE	1.00	Director	$0	$0	$0
RENEELEONA DOZIER	TRUSTEE	1.00	Director	$0	$0	$0
RONALD KONING JR	TRUSTEE	1.00	Director	$0	$0	$0
MELANIE LEGGE	CHAIRWOMAN	1.00	Director	$0	$0	$0
BRIAN MURPHY	TRUSTEE	1.00	Director	$0	$0	$0
JEROME DEMELLO	DIRECTOR OF TRAINING	50.00	Officer	$208,954	$67,377	$276,331
CHRISTOPHER ANTONELLIS	ASST. DIR. OF TRAINING	50.00	Key Emp	$207,139	$67,377	$274,516
DAN NAUGHTON	ASSISTANT TRAINING DIRECTOR	40.00	Key Emp	$171,591	$63,020	$234,611
MICHAEL O'CONNELL	FULL-TIME INSTRUCTOR	40.00	Highest	$166,410	$63,020	$229,430
GLENN JONES	FULL-TIME INSTRUCTOR	40.00	Highest	$153,652	$63,020	$216,672
THOMAS NG	FULL-TIME INSTRUCTOR	40.00	Highest	$150,738	$63,020	$213,758
TOM SPELLMAN	FULL-TIME INSTRUCTOR	40.00	Highest	$152,981	$63,020	$216,001
THOMAS RASMUSSEN	FULL-TIME INSTRUCTOR	40.00	Highest	$149,392	$63,020	$212,412
CHRISTOPHER SHERLOCK	FORMER DIRECTOR OF TRAINING	55.00		$226,405	$69,555	$295,960

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	$9,297,485	$10,942,444	$14,894,522	$-1,644,959
2024	$9,377,541	$9,806,015	$16,852,719	$-428,474
2023	$8,890,226	$9,444,956	$15,887,748	$-554,730
2022	$8,861,151	$8,541,945	$13,179,581	$319,206
2021	$8,978,898	$7,120,431	$12,525,372	$1,858,467
2020	$8,115,546	$7,231,836	$10,895,018	$883,710
2019	$8,353,117	$7,337,254	$9,155,018	$1,015,863

JOINT APPRENTICESHIP AND TRAINING TRUST FUND LOCAL 103 IBEW