INDEPENDENT ELECTRICAL CONTRACTORS INC

EIN: 741602512

ARLINGTON, VA

Total Revenue
$6,496,225
Total Expenses
$6,607,213
Total Assets
$3,284,818
Net Assets
$1,683,797
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
VA
Principal Officer
THAYER LONG
Phone
7035497351
Tax Period
2023-01-01 to 2023-12-31

INDEPENDENT ELECTRICAL CONTRACTORS INC, founded in 1962, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2023. Revenue surged 68% from the prior year, signaling strong growth momentum.

Mission

TO BE DEDICATED TO THE SUCCESS AND ADVANCEMENT OF OUR MEMBERS WITHIN THE INDEPENDENT ELECTRICAL INDUSTRY.

Program Service Accomplishments

Program 1

IEC'S ANNUAL CONVENTION IS DESIGNED TO PROVIDE AN OPPORTUNITY FOR MEMBERS TO NETWORK WITH OTHER MEMBERS AND INDUSTRY PEERS, TO PARTICIPATE IN EDUCATIONAL SESSIONS, TO ATTEND A NATIONAL TRADE...

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IEC'S ANNUAL CONVENTION IS DESIGNED TO PROVIDE AN OPPORTUNITY FOR MEMBERS TO NETWORK WITH OTHER MEMBERS AND INDUSTRY PEERS, TO PARTICIPATE IN EDUCATIONAL SESSIONS, TO ATTEND A NATIONAL TRADE EXPOSITION WHICH PROVIDES HANDS-ON ACCESS TO THE LATEST PRODUCTS FROM THE INDUSTRY'S LEADING MANUFACTURERS AND DISTRIBUTORS, AND TO PROVIDE OPPORTUNITIES TO PARTICIPATE IN COMPETITIONS AND BE RECOGNIZED FOR ACHIEVEMENTS AND ACCOMPLISHMENTS IN QUALITY OF PERFORMANCE AND SERVICE TO THE INDUSTRY.

Program 2

APPRETICESHIP AND TRAINING: SINCE 1972, IEC AND ITS AFFILIATED CHAPTERS HAVE CONDUCTED REGISTERED APPRENTICESHIP TRAINING PROGRAMS FOR ELECTRICAL WORKERS, RESIDENTIAL ELECTRICAL SPECIALISTS, AND LOW...

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APPRETICESHIP AND TRAINING: SINCE 1972, IEC AND ITS AFFILIATED CHAPTERS HAVE CONDUCTED REGISTERED APPRENTICESHIP TRAINING PROGRAMS FOR ELECTRICAL WORKERS, RESIDENTIAL ELECTRICAL SPECIALISTS, AND LOW VOLTAGE SYSTEMS TECHNICIANS UNDER STANDARDS APPROVED BY THE U.S. DEPARTMENT OF LABOR AND VARIOUS STATE APPRENTICESHIP COUNCILS. IEC'S APPRENTICE TRAINING PROGRAMS INCORPORATE A MINIMUM OF 144 HOURS OF REQUIRED EDUCATIONAL CONTENT PER YEAR (E.G. LECTURES, DEMONSTRATIONS, REQUIRED EXERCISES AND LABS), REGULAR HOMEWORK ASSIGNMENTS, 2000 HOURS OF ON-THE-JOB TRAINING PER YEAR, AND A COMPREHENSIVE SERIES OF EXAMS THAT MUST BE PASSED PRIOR TO GRADUATING TO THE NEXT LEVEL.

Program 3

PUBLICATIONS: EXTENSIONS E-NEWSLETTER AND IEC INSIGHTS MAGAZINE KEEP IEC MEMBERS CURRENT WITH ECONOMIC TRENDS, INDUSTRY NEWS, LEGISLATIVE DEVELOPMENTS, AND CODE INTERPRETATIONS THAT AFFECT THE WAY...

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PUBLICATIONS: EXTENSIONS E-NEWSLETTER AND IEC INSIGHTS MAGAZINE KEEP IEC MEMBERS CURRENT WITH ECONOMIC TRENDS, INDUSTRY NEWS, LEGISLATIVE DEVELOPMENTS, AND CODE INTERPRETATIONS THAT AFFECT THE WAY THEY CONDUCT BUSINESS. THE ANNUAL IEC MEMBERSHIP DIRECTORY PROMOTES AND MARKETS SERVICES OF IEC MEMBERS. THE NATIONAL WEBSITE SERVES AS A VALUABLE TOOL FOR MEMBERS AND CONSUMERS ALIKE.

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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 $81,818
Program Service Revenue $6,588,912
Investment Income $-203,514
Other Revenue $29,009
TOTAL REVENUE $6,496,225

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $6,607,213
TOTAL EXPENSES $6,607,213

Year-over-Year Comparison

2023 2022 Change
Revenue $6,496,225 $3,866,229 +0.7%
Expenses $6,607,213 $4,008,541 +0.6%
Net Income $-110,988 $-142,312 -0.2%
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

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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
30

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
6
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CECIL LEEDY PRESIDENT 1.00
Officer Director
$0 $0 $0
DON HULSEY VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
TROY CORRIGAN IMMEDIATE PAST PRESIDENT 1.00
Officer Director
$0 $0 $0
BRUCE KOHAN TREASURER 1.00
Officer Director
$0 $0 $0
BILLY ROSS HILL SECRETARY 1.00
Officer Director
$0 $0 $0
DON ARAGON MEMBER 1.00
Director
$0 $0 $0
GREG ANZLOVAR MEMBER 1.00
Director
$0 $0 $0
MARK CAMPBELL MEMBER 1.00
Director
$0 $0 $0
MICHAEL J GAFFNEY III MEMBER 1.00
Director
$0 $0 $0
MATT HITTINGER MEMBER 1.00
Director
$0 $0 $0
JERRY KENT MEMBER 1.00
Director
$0 $0 $0
CRAIG JONES MEMBER 1.00
Director
$0 $0 $0
ROBBIE JONES MEMBER 1.00
Director
$0 $0 $0
SCOTT JOSEPH TESON MEMBER 1.00
Director
$0 $0 $0
TOMMY MONACO MEMBER 1.00
Director
$0 $0 $0
LOUIS SCHULER MEMBER 1.00
Director
$0 $0 $0
DAVID SCOTT MEMBER 1.00
Director
$0 $0 $0
TIM WHITE MEMBER 1.00
Director
$0 $0 $0
BARRY WILLIAMS MEMBER 1.00
Director
$0 $0 $0
THAYER LONG EXECUTIVE DIRECTOR 40.00
Officer
$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
2024 No data No data No data No data
2023 $6,496,225 $6,607,213 $3,284,818 $-110,988
2022 $5,422,595 $5,349,118 $3,365,392 $73,477
2022 $3,866,229 $4,008,541 $2,458,272 $-142,312
2021 $4,728,698 $4,502,899 $3,195,715 $225,799
2020 $5,531,030 $4,956,126 $2,893,594 $574,904
2019 $4,978,038 $4,749,509 $2,789,537 $228,529
2018 $4,457,963 $4,355,517 $2,346,684 $102,446
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