Ibew Local 252 Apprentice School Fund FY2023 filing

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EIN 51-0149310 Mutual-benefit / member-serving Ann Arbor, MI
Revenue & expenses by yearFY2021–FY2025
Revenue
$743K
FY2023▼ -5%
Expenses
$826K
FY2023▲ +26%

Form 990 for the fiscal year ending May 2023 (IRS tax year 2022).


Reimburses employers for paying apprentices wages while they train. For fiscal year 2023 it reported $743K in revenue, $826K in expenses, and $909K in net assets.Pt I

Type
Mutual-benefit / member-serving · Nonprofit
Location
Ann Arbor, MI
Filings
5 on file (2021–2023)
Revenue
$743KFY2023
Expenses
$826K
Net assets
$909K
People
6
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Size
$1–10M
What they do
Reimburses employers for paying apprentices wages while they train.
Leadership
Mike Cox · Trustee
Money in and out
$743K revenue, $826K expenses
Bottom line
-11% surplus margin
Reported financial activity · FY2023
Total revenue
$743K
Pt VIII · Ln 12
Total expenses
$826K
Pt IX · Ln 25
Net assets
$909K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$83K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Surplus margin
-11%
revenue over expenses, this year
Program spending
98%
of expenses reach programs

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Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$1.0M
FY2023▼ -9%
Total liabilities
$125K
FY2023▲ +48%
Revenue less expensesPt I · Ln 19−$83K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CIbew Local 252 Apprentice School Fund
EINHdr · item D51-0149310
Principal addressHdr · item CAnn Arbor, MI
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(5) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFMar 1976

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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 (FY2022); the FY2023 filing did not itemize Part VII
Trustee
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ibew Local 252 Apprentice School Fund executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $808K of program spending, described in the organization's own filed words · FY2022.
01

The organization only has one program service, which is the reimbursement program described above in part iii, line 1.

$808Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$696K · 94%
Investment income$47K · 6%
Contributions & grants94%$696K
Investment income6%$47K
Total revenueLn 12$743K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$808K
Management & general2%$18K
Total functional expensesLn 25$826K

Balance Sheet

Part X · end of year
CashLn 1$1K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$125K
Total net assetsLn 32$909K
Months of cash on handcomputed0.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $988K · Operating expenses/yr $826K
14.3 months
Where the money goes
Program services
Program services $808K · Total expenses $826K
98%
Management & General
Management & general $18K · Total expenses $826K
2%
Fundraising
Fundraising $0 · Total expenses $826K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $663K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $696K · Total revenue $743K
94%
Government reliance
Government grants — · Total revenue $743K
Earned-income share
Program service revenue $0 · Total revenue $743K
0%
Investment reliance
Investment income $47K · Total revenue $743K
+6%
Program self-sufficiency
Program service revenue $0 · Total expenses $826K
0%
Growth & trend
Revenue growth (YoY)
This year $743K · Prior year $783K
-5%
Net-asset trend (YoY)
End of year $909K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $743K · Expenses $826K
-11%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
Net-asset ratio
Net assets $909K · Total assets $1.0M
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $987K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.0M
95%
People & payroll
Highest Reported Total Compensation
Individual Mike Cox · Reported title TRUSTEE · Highest reported compensation $0 · Total expenses $826K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $826K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%
Overhead ratio 2%
Fundraising cost ratio 0%
Revenue growth -5%
Accounting fee ratio 0.5%

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.

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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)$1.4M revenue · ⤓ 990 PDF
FY2024$1.3M revenue · ⤓ 990 PDF
FY2023$743K revenue · viewing · ⤓ 990 PDF
FY2022$783K revenue · ⤓ 990 PDF
FY2021$624K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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