Lake County Jatc EIN 23-7299610 Form 990 (PDF) Claim this org

Lake County Jatc

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Trains apprentice and journeymen electricians for IBEW Local 150. For fiscal year 2025 it reported $1.0M in revenue, $912K in expenses, and $1.8M in net assets.Pt I

Type
Public charity (501(c)(3)) · Employment
Location
Libertyville, IL
Website
lakecountyjatc.org
Filings
4 on file (2021–2025)
Revenue
$1.0MFY2025
Expenses
$912K
Net assets
$1.8M
People
9
Filings
4
Updates
0
More identity details & actions ⌄
EIN  23-7299610 Public charity (501(c)(3)) Libertyville, IL
Form 990 (PDF)
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Size
$1–10M
What they do
Trains apprentice and journeymen electricians for IBEW Local 150.
Leadership
Bryan Sorensen · Training Director · $135K
Money in and out
$1.0M revenue, $912K expenses
Bottom line
67% program efficiency
Where the money goes · FY2025
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$912K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $115K
Where spending went · Part IX cols B–D
Program services $0.67 Management & general $0.33
Program efficiency
67%
of spending reaches programs▲ +6% vs prior filing year
Operating runway
17.2mo
months of highly liquid reserves at operating expense rate▲ +34% vs prior filing year
Surplus margin
+11%
revenue over expenses, this year▲ +201% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$1.0M
FY2025▲ +14%
Expenses
$912K
FY2025▼ -9%
Total assets
$1.8M
FY2025▲ +11%
Total liabilities
$29K
FY2025▲ +627%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$912K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$115K
Total assetsPt X · Ln 16$1.8M
Program-expense ratioPt IX · col B67%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $611K of program spending, described in the organization's own filed words · FY2024.
01

Education of apprentices and journeymen electricians

$611Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLake County Jatc
EINHdr · item D23-7299610
Principal addressHdr · item CLibertyville, IL
WebsiteHdr · item Jlakecountyjatc.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J22Z)
Ruling yearIRS BMFOct 1975

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Training Director
$135,051Pt VII · Sec A
$2,131Pt VII · Sec A
$2,034Pt VII · Sec A
$1,781Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Bryan Sorensen’s $135K as Training Director is at the 55th percentile of top reported officer pay among 1236 $1–10M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2023FY2022FY2021
Bryan Sorensen$135,051$127,281$128,103$122,557
Christopher Haag$1,781$2,739
Joseph Catella$2,034$2,294$1,544
Michael Patenaude$2,131$1,230$1,621
William Trevino$1,544

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$965K · 94%
Investment income$46K · 4%
Contributions & grants$12K · 1%
Program service revenue94%$965K
Investment income4%$46K
Contributions & grants1%$12K
Other revenue$5K
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.33
Program services67%$611K
Management & general33%$301K
Total functional expensesLn 25$912K

Balance Sheet

Part X · end of year
CashLn 1$586K
Total assetsLn 16$1.8M
Total liabilitiesLn 26$29K
Total net assetsLn 32$1.8M
Months of cash on handcomputed7.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.3M · Operating expenses/yr $912K
17.2 months
Where the money goes
Program services
Program services $611K · Total expenses $912K
67%
Management & General
Management & general $301K · Total expenses $912K
33%
Fundraising
Fundraising $0 · Total expenses $912K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $8K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $12K · Total revenue $1.0M
1%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $965K · Total revenue $1.0M
94%
Investment reliance
Investment income $46K · Total revenue $1.0M
+4%
Program self-sufficiency
Program service revenue $965K · Total expenses $912K
106%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $902K
+14%
Revenue CAGR
FY2020 $976K · FY2024 $1.0M
+1%
Net-asset trend (YoY)
End of year $1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $912K
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8M
Net-asset ratio
Net assets $1.8M · Total assets $1.8M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $718K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.8M
39%
People & payroll
Highest Reported Total Compensation
Individual Bryan Sorensen · Reported title TRAINING DIRECTOR · Highest reported compensation $135K · Total expenses $912K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $610K · Total expenses $912K
67%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 67%
Overhead ratio 33%
Fundraising cost ratio 0%
Revenue growth 14%
Accounting fee ratio 0.6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$5K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$1.0M revenue · viewing · ⤓ 990 PDF
FY2024not on file
FY2023$902K revenue · ⤓ 990 PDF
FY2022$860K revenue · ⤓ 990 PDF
FY2021$976K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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