Overview
What is Lincoln Electric Contractors Assoc?
Lincoln Electric Contractors Assoc is a nonprofit organization situated in Lincoln, Nebraska. Its primary mission is to offer training and apprenticeship opportunities for individuals interested in learning the electrical trade. This association was established to support the education and development of electrical apprentices and journeyworkers, by covering the expenses associated with apprenticeship and training programs, which are established under the collective bargaining agreement between the International Brotherhood of Electrical Workers (IBEW) Local No. 265 and the Nebraska Chapter of the National Electrical Contractors Association (NECA). The organization employs a team of five individuals, dedicated to this purpose.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%, Zero-Star out of Four Star rating.
The Lincoln Electric Contractors Association has received a low rating of 36% from Charity Navigator, indicating significant concerns primarily related to accountability and finance. The organization has performed well in some areas, including having a majority of independent board members and no material diversion of assets, which reflects positively on its governance structure.
However, there are notable weaknesses that have contributed to its low score. The absence of a conflict of interest policy, whistleblower policy, and document retention and destruction policy are critical gaps in governance practices. Additionally, the organization's financial health is concerning, evidenced by a liabilities to assets ratio of 1.54% and a program expense ratio of only 47.57%, signaling that less than half of its expenses are directed toward programs.
These limitations suggest that while the organization has some strengths in governance, significant improvements are needed in its financial management and policy framework to enhance its overall effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Lincoln Electric Contractors Assoc legitimate?
Lincoln Electric Contractors Assoc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lincoln Electric Contractors Assoc 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: $81,430
Professional Fundraising Fees: $0
Other Salaries and Wages: $36,648
For more financial information, click here
Official website here: www.none
What is the mission statement of Lincoln Electric Contractors Assoc?
The Lincoln Electric Contractors Association was established with a singular purpose: to support a program for the education and training of electrical apprentices and journeymen. This association aims to offset the expenses associated with the apprenticeship and training programs that have been established under the provisions of the collective bargaining agreement between the International Brotherhood of Electrical Workers (IBEW) Local No. 265 and the Nebraska Chapter of the National Electrical Contractors Association (NECA). The primary objective of the Association is to enhance the skills and knowledge of electrical workers, thereby contributing to their professional development.
Official website here: www.none
What is the revenue of Lincoln Electric Contractors Assoc?
Lincoln Electric Contractors Assoc's revenue in 2024 was $590,888.
Official website here: www.none
Who are the executives of Lincoln Electric Contractors Assoc and what are their salaries?
The average compensation at Lincoln Electric Contractors Assoc during 2024 was $16,868. There are 7 employees at Lincoln Electric Contractors Assoc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $79,106
- Related: $0
- Other: $13,930
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Lincoln Electric Contractors Assoc
Lincoln Electric Contractors Association was established with a singular purpose: to support the education and training of electrical apprentices and journeymen. Their mission is to subsidize the expenses associated with apprenticeship and training programs, which are implemented under the provisions of the collective bargaining agreement between the International Brotherhood of Electrical Workers (IBEW) Local No. 265 and the Nebraska Chapter of the National Electrical Contractors Association (NECA). By providing financial assistance, Lincoln Electric Contractors Association plays a vital role in fostering the development of skilled electrical workers, thereby contributing to the industry's growth and advancement.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Lincoln Electric Contractors Assoc's impact is focused on providing valuable training and apprenticeship opportunities for individuals looking to enter the electrical trade industry. By supporting programs for the education of electrical apprentices and journeymen, the association plays a crucial role in developing skilled workers in this field. Additionally, it helps defray the costs of apprenticeship and training programs established through a collective bargaining agreement between the International Brotherhood of Electrical Workers (IBEW) Local No. 265 and the Nebraska Chapter of the National Electrical Contractors Association (NECA). This commitment to education and training contributes to the growth and sustainability of the electrical workforce, ensuring a steady supply of qualified professionals in the industry.
This information is meant to be a general summary of Lincoln Electric Contractors Assoc. 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 2024.
- Investment Income: $7,849
- Program Service Revenue: $579,447
- Gross Receipts: $590,888
Assets and Liabilities:
- Total Assets: $628,501
- Total Liabilities: $17,056
- Net Assets: $611,445
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER SUPPORT
Revenue
$409,155
GRANTS FOR PROGRAM SERVICES
Revenue
$91,745
APPRENTICE FEES
Revenue
$76,315
CONTINUING EDUCATION CLASSES
Revenue
$1,872
BOOKS AND MATERIALS
Revenue
$360
Organization Details
If you are a representative of Lincoln Electric Contractors Assoc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.