IEC CHESAPEAKE INC

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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

1982

Legal Domicile

Principal Officer

GRANT SHMELZER

Phone

3016219545

Tax Period

2024-01-01 to 2024-12-31

IEC CHESAPEAKE INC, founded in 1982, is a small nonprofit in the Community Improvement sector that reported $885K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

I.E.C. CHESAPEAKE, INC. IS A TRADE ASSOCIATION OF ELECTRICAL CONTRACTORS. THE ASSOSCIATION WORKS WITHIN THE INDUSTRY TO ESTABLISH A SUCCESSFUL BUSINESS ENVIRONMENT FOR ELECTRICAL CONTRACTORS.

Program Service Accomplishments

Program 1

Expenses: $850,123 Revenue: $823,515

I.E.C. CHESAPEAKE, INC. IS A TRADE ASSOCIATION OF ELECTRICAL CONTRACTORS. THE ASSOCIATION WORKS WITHIN THE INDUSTRY TO ESTABLISH A SUCCESSFUL BUSINESS ENVIRONMENT FOR ELECTRICAL CONTRACTORS. THE...

I.E.C. CHESAPEAKE, INC. IS A TRADE ASSOCIATION OF ELECTRICAL CONTRACTORS. THE ASSOCIATION WORKS WITHIN THE INDUSTRY TO ESTABLISH A SUCCESSFUL BUSINESS ENVIRONMENT FOR ELECTRICAL CONTRACTORS. THE ASSOCIATION SERVES AS THE VOICE OF THE ELECTRICAL CONTRACTING INDUSTRY ON POLICIES AFFECTING ITS MEMBERSHIP. THE ORGANIZATION ALSO SERVES TO FURTHER THE GROWTH OF THE ECONOMY, PROVIDING SKILLED MANPOWER, AND PROMOTING THE PRINCIPLES OF FREE ENTERPRISE.

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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 $836,515

Program Service Revenue $0

Investment Income $10,151

Other Revenue $38,691

TOTAL REVENUE $885,357

Expense Breakdown

Grants Paid $0

Salaries & Benefits $464,395

Fundraising Expenses $0

Program Expenses $850,123

Other Expenses $472,864

TOTAL EXPENSES $937,259

Year-over-Year Comparison

	2024	2023	Change
Revenue	$885,357	$802,992	+0.1%
Expenses	$937,259	$739,806	+0.3%
Net Income	$-51,902	$63,186	-1.8%

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

$213,332

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CASEY WEISMAN	PAST PRESIDENT	1.00	Director	$0	$0	$0
SCOTT BOWERS	PRESIDENT	1.00	Director	$0	$0	$0
MIKE VELTRI	VICE PRESIDENT	1.00	Director	$0	$0	$0
VICKIE DOLS	FINANCE COMMITTEE CHAIR	1.00	Director	$0	$0	$0
DUDLEY HARRIS	MEMBERSHIP COMMITTEE CHAIR	1.00	Director	$0	$0	$0
DALE KERNS	GOVERNMENTAL AFFAIRS COMMI	1.00	Director	$0	$0	$0
FRANKLIN CHANEY	APPRENTICESHIP COMMITTEE C	1.00	Director	$0	$0	$0
CHAD COOK	SECRETARY/TREASURER	1.00	Director	$0	$0	$0
GRANT SHMELZER	EXECUTIVE DIRECTOR	20.00	Officer	$198,967	$14,365	$213,332

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	$885,357	$937,259	$1,601,649	$-51,902
2023	$802,992	$739,806	$1,434,577	$63,186
2022	$628,721	$697,661	$741,424	$-68,940
2021	$676,661	$571,536	$886,699	$105,125
2020	$549,084	$505,910	$716,687	$43,174
2019	$579,559	$450,263	$584,056	$129,296
2018	$482,138	$426,477	$478,339	$55,661