Electrical Industry Apprentice Training Program

990 • Fiscal year 2023 • EIN 61-1735214

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 05, 2024

Organization Profile WWW.JIBEI.ORG

158-11 Harry Van Arsdale Jr AvenueFlushing, NY 11365

(718) 591-2000

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$44,544,642

Flat from 2023

Net Assets

Flat

$24,055,677

Flat from 2023

Liabilities

Flat

$20,488,965

Flat from 2023

Revenue And Expenses

Revenue

Flat

$11,413,766

Flat from 2023

Expenses

Flat

$15,947,977

Flat from 2023

Net Income

Flat

-$4,534,211

Flat from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

Highlighted filing

2023

Assets$44,544,642

Liabilities$20,488,965

Net Assets$24,055,677

Open 2023 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

Highlighted filing

2023

Revenue$11,413,766

Expenses$15,947,977

Net Income-$4,534,211

Open 2023 Filing

Jump To

Filing Snapshot

Filing Period: Oct 1, 2022 to Sep 30, 2023
Signed: Aug 5, 2024
Return Version: 2022v5.0
Gross Receipts: $36,446,366

Mission and Program Overview

Mission

To provide training for participants of the inside electricians apprenticeship program which includes on the job training and higher education course work. The plan also covers administrative and other expenses associated with this training. The plan is covered under the terms of three-year collective bargaining agreements and the related agreements and working rules between local union no. 3 of the international brotherhood of electrical workers, afl-cio and the electrical contractors' associations and independent electrical contractors.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Rtn Earn Endowment Incm Other Fnds	$27,777,048	$24,055,677	▼ $3,721,371
Investments in Publicly Traded Securities	$27,786,722	$23,895,470	▼ $3,891,252
Accounts Receivable	$990,459	$981,529	▼ $8,930
Land, Buildings, and Equipment, Net	$352,042	$923,260	▲ $571,218
Cash and Non-Interest-Bearing Accounts	$337,992	$184,490	▼ $153,502
Savings and Temporary Cash Investments	$0	-	-
Other Notes and Loans Receivable, Net	$0	-	-
Pledges and Grants Receivable	$0	-	-
Receivable From Disqualified Prsn	$0	-	-
Receivables From Officers Etc	$0	-	-
Investments Other Securities	$0	-	-
Investments Program Related	$0	-	-
Pd in Cap Srpls Land Bldg Eqp Fund	$0	$0	→ $0
Cap Stk Tr Prin Current Funds	$0	$0	→ $0
Intangible Assets	$0	-	-
Inventories for Sale or Use	$0	-	-
Loans From Officers Directors	$0	$0	→ $0
Prepaid Expenses and Deferred Charges	$0	-	-
Total Assets	$29,869,961	$44,544,642	▲ $14,674,681
Other Assets Total	$402,746	$18,559,893	▲ $18,157,147
Liabilities
Other Liabilities	$2,085,080	$20,356,318	▲ $18,271,238
Accounts Payable and Accrued Expenses	$7,833	$132,647	▲ $124,814
Grants Payable	$0	$0	→ $0
Mortgage Notes Payable Secured by Investment Property	$0	$0	→ $0
Unsecured Notes Loans Payable	$0	$0	→ $0
Deferred Revenue	$0	$0	→ $0
Escrow Account Liability	$0	$0	→ $0
Tax Exempt Bond Liabilities	$0	$0	→ $0
Total Liabilities	$2,092,913	$20,488,965	▲ $18,396,052
Net Assets / Fund Balance
Total Net Assets Fund Balance	$27,777,048	$24,055,677	▼ $3,721,371
Total Liabilities and Net Assets / Fund Balance	$29,869,961	$44,544,642	▲ $14,674,681

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$0	$0	$0
Other Land Buildings	$441,718	$450,475	$0
Land	$0	-	$0
Equipment	$481,542	$142,653	$0
Leasehold Improvements	$0	$0	$0
Other Assets Org	$18,190,065	-	-

Compensation and Service Providers

Board Members and Trustees

Name	Title
George White	Associate Director
George Schuck	Director
Anthony Falleo	Trustee
Benjamin Arana	Trustee
Carol Kleinberg	Trustee
Christopher Erikson	Trustee
Dominic Parisi	Trustee
James Bua	Trustee
Jeffrey Milad	Trustee
John Mannino	Trustee
Joseph Santigate	Trustee
Kristine Denapoli	Trustee
Michael Bigman	Trustee
Michael Jordan	Trustee
Raj Ladoya	Trustee
Ricardo Rollins	Trustee
Richard Duva Jr	Trustee
Robert J Saville	Trustee
Robert Romanoff	Trustee
Thomas Cleary	Trustee

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $9,744,648
Investment Income: $1,669,118
Other Revenue: $0
Change in Net Assets: $-4,534,211

Audited Revenue Reconciliation

Revenue per Audited Statements: $11,413,766
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $812,840
Other Revenue Adjustments: $0
Total Revenue per Audited Statements: $12,226,606
Total Revenue per Form 990: $11,413,766

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$3,840,738
Salaries, Compensation, and Employee Benefits	$351,849
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Benefits to Members	-	-	-	$11,755,390
Other Expenses	-	-	-	$3,822,729
Current Officers, Directors, Trustees, and Key Employees	-	-	-	$351,849
Fees for Service Investment Mgmnt Fees	-	-	-	$18,009
Total Functional Expenses	$0	$0	$0	$15,947,977

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$15,947,977
Total Expenses per Audited Statements	$15,947,977
Total Expenses per Form 990	$15,947,977
Expenses Not Reported on Financial Statements	$0
Expenses Not Reported on Form 990	$0
Other Expense Adjustments	$0

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Subject to proxy tax: No

Insider Transactions and Loans

Loans and Receivables

Line Item	Beginning	End	Change
Loans from Officers, Directors, Trustees, and Key Employees	$0	$0	→ $0
Receivables from Disqualified Persons	$0	-	-
Receivables from Officers, Directors, Trustees, and Key Employees	$0	-	-

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
Educational and Cultural Fund of the Electrical Industry	Flushing, NY	To provide educational and other benefits to eleigible union memebers	501 (c)(5)	-	No
Joint Industry Board of the Electrical Industry	Flushing, NY	Supervision and Administration of Various Benefit Funds	501(c)(5)	-	No

Transactions with Related Organizations

Organization	Type	Method	Amount
Joint Industry Board of the Electrical Industry	p	This Amount Was the Total Allocated Expense Charged to the Plan by Joint Industry Board of the Electrical Industry for the Fiscal Year 2022.	$3,415,111
Educational and Cultural Fund of the Electrical Industry	k	See Page 7 of the Form 990 for Detail.	$1,246,246
Educational and Cultural Fund of the Electrical Industry	o	-	$371,006
Joint Industry Board of the Electrical Industry	m	This Transaction Type Is Part of the Total Allocated Expenses Charged to the Program by the Joint Industry Board of the Electrical Industry for 2022 Fiscal Year. See Part V Letter P for Detail.	$0
Joint Industry Board of the Electrical Industry	n	This Transaction Type Is Part of the Total Allocated Expenses Charged to the Program by the Joint Industry Board of the Electrical Industry for the Fiscal Year 2022. See the Part V Letter P for Detail.	$0

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Lease Liability	$18,715,053
Apprentice Training Program Benefits Payable	$1,030,203
Due to the Joint Industry Board	$249,146
Collateral Payable	$202,888
Due to Broker for Pending Securities Purchased	$159,028

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Audit committee: Yes
Backup withholding compliance: Yes
Business relationship with 35% controlled entity: No
Business relationship with family members: No
Business relationship with organization members: No
Material changes to governing documents: No
Compensation from other sources disclosed: No
CEO compensation reviewed: No
Other officer compensation reviewed: No
Conflict-of-interest policy: No
Audited financial statements prepared: No
Key decisions subject to board approval: No
Management duties delegated: No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The plan's board of trustees approves all financial statement information included in the form 990, (the plan's audited september 30, 2023 financial statements approved by the board of trustees). In addition, the plan's trustees approve all significant transactions that impact the plan.”

Form 990, Part VI, Section C, Line 19

“The plan's it's governing documents available to all its members.”

Filing and Contact Details

Filer

Filer Name: Electrical Industry Apprentice Training Program
EIN: 61-1735214
Phone: 7185912000
Address: 158-11 HARRY VAN ARSDALE JR AVENUE, FLUSHING, NY 11365

Signing Officer

Name: Humberto Restrepo
Title: Chairman
Phone: 7185912000
Signed: 2024-08-05

Organization Details

Principal Officer: Humberto J Restropo
Formed: 2014
Legal Domicile: Ny
Voting Board Members: 20
Independent Board Members: 0
Employees: 0
Volunteers: 20

Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The finance committee evaluates and recommends the independent account to the plan's trustees.”

Financial Statement Notes

Schedule D, Part X, Line 2

“Management evauluated all of the plan's tax positions for all oepn years and has concluded that the plan has taken no uncertain tax positions that require adjustment to the financial statements.”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $44,544,642
Liabilities: $20,488,965
Net assets: $24,055,677
Revenue: $11,413,766
Expenses: $15,947,977
Net income: -$4,534,211

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$44.4	$24.8	$19.6	$12.0	$17.9	$5.85
2023Detailed filing. Detailed filing data is available for this year.	$44.5	$20.5	$24.1	$11.4	$15.9	$4.53
2023Summary only. Only limited summary data is available for this year.	$44.5	$20.5	$24.1	$11.4	$15.9	$4.53
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.	$29.9	$2.09	$27.8	$10.8	$13.9	$3.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.	$39.2	$3.66	$35.6	$11.9	$13.4	$1.50
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$35.3	$1.36	$33.9	$12.4	$12.9	$0.55
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$35.8	$2.24	$33.6	$13.8	$15.6	$1.81
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$36.4	$1.75	$34.6	$13.7	$11.9	$1.73
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.	$33.9	$1.83	$32.0	$12.7	$10.8	$1.88
2016Summary only. Only limited summary data is available for this year.	$33.0	$2.62	$30.3	$13.1	$6.14	$6.98
2015Detailed filing. Detailed filing data is available for this year.	$24.5	$1.27	$23.2	$9.87	$5.89	$3.98
2014Summary only. Only limited summary data is available for this year.	$20.6	$1.39	$19.2	$8.20	$4.99	$3.21