Overview
What is Springfield Electrical Jatc Trust?
Springfield Electrical JATC Trust is a nonprofit organization situated in Springfield, Massachusetts, specifically at 95 Liberty Street 1. Its primary focus is to provide training and education for apprentices and journey-level electricians, serving approximately 600 members across four western counties of Massachusetts. The organization's mission is to enhance the skills and knowledge of its members in the electrical trade, contributing to their professional growth and development. With a workforce of 16 individuals, Springfield Electrical JATC Trust plays a vital role in the electrical industry by equipping its members with the necessary skills to excel in their respective careers.
Official website here: www.local7jatc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
Springfield Electrical Jatc Trust received a Two-Star rating from Charity Navigator, reflecting a need for improvement in their accountability and financial practices. With an overall score of 73%, the organization demonstrates solid program expense management, allocating over 80% of its expenses directly to programs. However, the nonprofit faces significant challenges regarding board independence, with no independent board members, which affects the governance aspect of the evaluation.
The financial health of the organization appears stable, with a low liabilities to assets ratio of 0.12%, indicating a strong balance sheet. The Trust has also received full points for the review or compilation of its financial statements and has no reported material diversion of assets. Despite these positive aspects, the absence of a conflict of interest policy and a whistleblower policy raises concerns about its governance practices.
Furthermore, the nonprofit has not made its tax form available on its website, which is a missed opportunity for transparency. While they have a documented retention and destruction policy and maintain board meeting minutes, the lack of independent oversight and essential policies reflects areas where Springfield Electrical Jatc Trust could enhance its accountability and overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Springfield Electrical Jatc Trust legitimate?
Springfield Electrical Jatc Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Springfield Electrical Jatc Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $128,526
Professional Fundraising Fees: $0
Other Salaries and Wages: $162,091
For more financial information, click here
Official website here: www.local7jatc.com
What is the mission statement of Springfield Electrical Jatc Trust?
The Springfield Electrical JATC Trust operates as a training and education program, focusing on apprentices and journeymen in the electrical trade. Their mission is to equip these individuals with the necessary skills and knowledge to excel in their profession. Serving approximately 600 members across several western counties in Massachusetts, the organization's primary goal is to provide comprehensive training programs that cater to the needs of the electrical trade. By doing so, they aim to contribute to the development of a skilled workforce within the industry. The Springfield Electrical JATC Trust is committed to fostering a continuous learning environment, ensuring that its members stay updated with the latest trends and advancements in the field.
Official website here: www.local7jatc.com
Who is the CEO of Springfield Electrical Jatc Trust?
Michael Quinn is the Trustee of Springfield Electrical Jatc Trust.
Official website here: www.local7jatc.com
What is the revenue of Springfield Electrical Jatc Trust?
Springfield Electrical Jatc Trust's revenue in 2022 was $625,189.
Official website here: www.local7jatc.com
Who are the executives of Springfield Electrical Jatc Trust and what are their salaries?
The average compensation at Springfield Electrical Jatc Trust during 2022 was $18,164. There are 16 employees at Springfield Electrical Jatc Trust.
Here are 11 key members and their salaries:
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- Compensation: $24,860
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- Other: $9,517
- Compensation: $64,607
- Related: $0
- Other: $29,542
Official website here: www.local7jatc.com
Where can I find the form 990 for Springfield Electrical Jatc Trust?
Springfield Electrical Jatc Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.local7jatc.com
Learn more at the official website: www.local7jatc.com
Mission Statement of Springfield Electrical Jatc Trust
The Springfield Electrical JATC Trust is dedicated to providing a comprehensive training and education program for apprentices and journeymen in the electrical trade. This nonprofit organization serves approximately 600 members in the four western counties of Massachusetts, focusing on equipping individuals with the skills necessary to excel in their respective fields within the electrical trade. By offering this program, the Springfield Electrical JATC Trust plays a crucial role in fostering the professional growth and development of its members, ultimately contributing to the overall strength and advancement of the electrical industry.
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Impact
July, 2024
Springfield Electrical JATC Trust's impact lies in providing essential training and education programs for apprentices and journeymen in the electrical trade. Serving approximately 600 members in the four western counties of Massachusetts, this organization plays a crucial role in advancing the skills and knowledge of individuals in the electrical industry. Through its focused mission on training and education, Springfield Electrical JATC Trust contributes to enhancing employment opportunities, improving workforce capabilities, and fostering professional growth within the electrical trade sector.
This information is meant to be a general summary of Springfield Electrical Jatc Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,654
- Program Service Revenue: $593,825
- Gross Receipts: $625,189
Assets and Liabilities:
- Total Assets: $1,119,161
- Total Liabilities: $1,418
- Net Assets: $1,117,743
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$593,825
Organization Details
Founding Year
1962
Phone
(413) 737-2253Principal Officer
Michael Quinn
Main Address
95 LIBERTY STREET 1, SPRINGFIELD, MA, 01103
Website
www.local7jatc.comNTEE Category
Code: J220 - Employment
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