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Iec Foundation for Training INC

Tax-deductible

Indianapolis, IN501(c)(3)Since 2021EIN 85-3834237Revenue $965K in FY2025

On file with the IRS8861 Boehning Ln, 46219-1974 · Indianapolis, INTax-exempt since Jan 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of Iec is to enhance the independent electrical contractor's success by developing a professional workforce, communicating clearly with government, promoting ethical businesspractices, and providing leadership for the electrical industry.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$126K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $20K a year · 2% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$126K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$552K
103% of total assets
Concern: liabilities are 103% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$965K
+25% vs prior year
Spent
$1.0M
To programs
76%
Net assets
−$15K
By yearFY2023–FY2025
Revenue
$965K
FY2025▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2023$773K
FY2025$965K
Expenses
$1.0M
FY2025▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2023$757K
FY2025$1.0M
Net assets
−$15K
FY2025▼ -129%
Tap a bar for its year
Net assets by fiscal year
FY2023$50K
FY2025−$15K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $774K Management & general 24% · $248K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $126K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Raul Vasquez
Executive Director
$125,602Pt VII · Sec A
Blake Behr
Vice President
$0Pt VII · Sec A
Matt Kinder
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Andy Toth
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2023
Raul Vasquez$125,602$113,859

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Trains electricians through apprenticeships and ongoing skill updates.

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Provided by the organization

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1 program · $774K · in their own filed words · FY2024
01

To enhance the independent electrical contractor's success bydeveloping a professional workforce, communicating clearly withgovernment, promoting ethical business practices, and providingleadership for the electrical industry.

$774Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$965K
Ln 12
Fees for servicesLn 2g$955K
Investment incomeLn 3$10K
Money outPt IX
$1.0M
Ln 25
Programscol B$774K
Managementcol C$248K
Owns and owesPt X
−$15K
net assets · Ln 32
Cash and savingsLn 1–2$383K
Total assetsLn 16$537K
LiabilitiesLn 26$552K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$955K
Investment incomeLn 3$10K
Total revenueLn 12$965K
Assets in detailPt X, end of year
CashLn 1$383K
Cash and savings togetherLn 1–2$383K
Land, buildings, equipmentLn 10c$53K
Other assetsLn 15$102K
Total assetsLn 16$537K
LiabilitiesLn 26$552K
Net assetsLn 32−$15K
OperationsPt I, VI
EmployeesI 519
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$187K$383K
Land, buildings, equipmentLn 10c$43K$53K
Total assetsLn 16$232K$537K
LiabilitiesLn 26$190K$552K
Net assetsLn 32$42K−$15K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$126K$126K
Other salaries and wagesLn 7$161K$121K$40K
Payroll taxesLn 10$26K$19K$6K
Legal feesLn 11b$625$469$156
Accounting feesLn 11c$2K$2K$578
Other fees for servicesLn 11g$33K$25K$8K
Advertising and promotionLn 12$60K$45K$15K
Office expensesLn 13$63K$47K$16K
OccupancyLn 16$90K$67K$22K
TravelLn 17$24K$18K$6K
InsuranceLn 23$11K$8K$3K
Other expenses (24a–d)Ln 24$426K$421K$5K
Total functional expensesLn 25$1.0M$774K$248K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $965K$1.0M−$57K−$15K 990 PDF
FY2024 Not on file
FY2023 $773K$757K$16K$50K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $965,410 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,021,806$955,479
I-10 Investment incomePrior year $647$9,931
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,022,453$965,410
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $468,542$312,739
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $562,128$709,360
I-18 Total expensesPrior year $1,030,670$1,022,099
I-19 Revenue less expensesPrior year −$8,217−$56,689
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $965,410 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $955,479$955,479
VIII-3 Investment incomeExcluded from tax $9,931$9,931
VIII-12 Total revenueRelated to mission $955,479 · Unrelated business $0 · Excluded from tax $9,931$965,410
Part IX · Statement of functional expenses $1,022,099 across 12 lines filed
IX-5 Pay of current officers, directors and key staffManagement $125,602$125,602
IX-7 Other salaries and wagesPrograms $121,015 · Management $40,339$161,354
IX-10 Payroll taxesPrograms $19,337 · Management $6,446$25,783
IX-11b Legal feesPrograms $469 · Management $156$625
IX-11c Accounting feesPrograms $1,733 · Management $578$2,311
IX-11g Other fees for servicesPrograms $24,904 · Management $8,301$33,205
IX-12 Advertising and promotionPrograms $44,675 · Management $14,892$59,567
IX-13 Office expensesPrograms $47,475 · Management $15,825$63,300
IX-16 OccupancyPrograms $67,301 · Management $22,434$89,735
IX-17 TravelPrograms $17,672 · Management $5,891$23,563
IX-23 InsurancePrograms $8,148 · Management $2,715$10,863
IX-24 Other expenses (24a–d)Programs $421,439 · Management $4,752$426,191
IX-25 Total functional expensesPrograms $774,168 · Management $247,931 · Fundraising $0$1,022,099
Part X · Balance sheet $537,276 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $187,498$382,951
X-10c Land, buildings and equipment, netStart of year $43,381$52,643
X-15 Other assetsStart of year $962$101,682
X-16 Total assetsStart of year $231,841$537,276
X-17 Accounts payable and accrued expensesStart of year $14,859$99
X-19 Deferred revenueStart of year $0$5,725
X-24 Unsecured notes and loans payableStart of year $0$111,014
X-25 Other liabilitiesStart of year $174,818$434,963
X-26 Total liabilitiesStart of year $189,677$551,801
X-27 Net assets without donor restrictionsStart of year $42,164−$14,525
X-32 Total net assets or fund balancesStart of year $42,164−$14,525
X-33 Total liabilities and net assetsStart of year $231,841$537,276
Part XI · Reconciliation of net assets −$14,525 net assets at year end
XI-1 Total revenue$965,410
XI-2 Total expenses$1,022,099
XI-3 Revenue less expenses−$56,689
XI-4 Net assets at start of year$42,164
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$14,525

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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