PUGET SOUND ELECTRICAL APPRENTICESHIP & TRAINING TRUST

EIN: 910844345 501(c)(3) Education

RENTON, WA

Total Revenue
$9,611,472
Total Expenses
$9,340,384
Total Assets
$21,057,938
Net Assets
$19,905,443
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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
1969
Legal Domicile
WA
Principal Officer
RYAN BRADT
Phone
4252581777
Tax Period
2023-01-01 to 2023-12-31

PUGET SOUND ELECTRICAL APPRENTICESHIP & TRAINING TRUST, founded in 1969, is a community nonprofit in the Education sector that reported $9.6M in total revenue in fiscal year 2023. Net assets of $19.9M represent 25 months of operating reserves.

Mission

THE TRUST PROVIDES A PROGRAM FOR THE TRAINING AND EDUCATION OF ELECTRICAL APPRENTICES, JOURNEYMEN AND OTHER APPROPRIATE PERSONS.

Program Service Accomplishments

Program 1
Expenses: $8,039,754 Revenue: $2,471,412

THE REVENUE FROM ALL SOURCES IS USED TO TRAIN AND RETRAIN ELECTRICAL APPRENTICES AND JOURNEYMEN THROUGH CLASSES AND LAB PARTICIPATION. DURING THE REPORTING YEAR ENDED DECEMBER 31 2023, A SUBSTANTIAL...

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THE REVENUE FROM ALL SOURCES IS USED TO TRAIN AND RETRAIN ELECTRICAL APPRENTICES AND JOURNEYMEN THROUGH CLASSES AND LAB PARTICIPATION. DURING THE REPORTING YEAR ENDED DECEMBER 31 2023, A SUBSTANTIAL NUMBER OF APPENTICES AND JOURNEYMEN PARTICPATED IN THEIR RESPECTIVE PROGRAMS.

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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 $6,971,625
Program Service Revenue $2,471,412
Investment Income $154,534
Other Revenue $13,901
TOTAL REVENUE $9,611,472

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,219,267
Fundraising Expenses $0
Program Expenses $8,039,754
Other Expenses $3,121,117
TOTAL EXPENSES $9,340,384

Year-over-Year Comparison

2023 2022 Change
Revenue $9,611,472 $9,435,363 +0.0%
Expenses $9,340,384 $8,557,530 +0.1%
Net Income $271,088 $877,833 -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

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
74
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
4
$293,051
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RYAN BRADT TRAINING DIR 40.00
Officer
$182,712 $42,179 $224,891
CLAY TSCHILLARD TRAINING DIR 40.00
Officer
$56,200 $11,960 $68,160
DAVID GORDON ASST TRAININ 40.00
Highest
$162,023 $42,179 $204,202
EDWARD ADAMS ACADEMIC MAN 40.00
Highest
$149,046 $42,179 $191,225
CLIFF HARTMAN ACADEMIC COU 40.00
Highest
$146,046 $42,179 $188,225
LAURIE MYERS ACADEMIC MAN 40.00
Highest
$143,232 $41,547 $184,779
JEROME AUSTIN INSTRUCTOR 40.00
Highest
$135,921 $42,179 $178,100
GEOFF NEWMAN TRUSTEE CHAI 1.00
Officer Director
$0 $0 $0
JAMESON SCHWETZ TRUSTEE 1.00
Director
$0 $0 $0
LAURA RICHARDSON TRUSTEE 1.00
Director
$0 $0 $0
OILVER WHITEHEAD TRUSTEE 1.00
Director
$0 $0 $0
SEAN BAGSBY TRUSTEE SECR 1.00
Officer Director
$0 $0 $0
ERICK LEE TRUSTEE 1.00
Director
$0 $0 $0
BRYAN JOHNSON TRUSTEE 1.00
Director
$0 $0 $0
STEPHANIE MCPHERSON TRUSTEE 1.00
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
2024 No data No data No data No data
2023 $9,611,472 $9,340,384 $21,057,938 $271,088
2022 $9,435,363 $8,557,530 $20,978,159 $877,833
2021 $9,666,420 $7,953,947 $19,899,360 $1,712,473
2020 $7,523,557 $7,422,516 $19,250,564 $101,041
2019 $8,243,066 $7,063,109 $18,407,157 $1,179,957
2018 $7,482,497 $6,340,674 $17,129,441 $1,141,823
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