Electro Skill Corporation FY2023 filing

Not tax-deductible

San Jose, CAMutual-benefit / member-servingEIN 94-6100577

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To hold and maintain real estate on behalf of the membership of the ibew local 332.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $81K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
12 mo
of spending, in cash
Looks good: 12.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.2M
60% of total assets
Fine: liabilities are 60% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+9% vs prior year
Spent
$940K
Net assets
$2.8M
By yearFY2020–FY2024
Revenue
$1.0M
FY2023▲ +9%
Revenue by fiscal year
FY2020$983K
FY2021$1.0M
FY2022$955K
FY2023$1.0M
FY2024$1.1M
Expenses
$940K
FY2023▼ -4%
Expenses by fiscal year
FY2020$998K
FY2021$884K
FY2022$983K
FY2023$940K
FY2024$855K
Net assets
$2.8M
FY2023▲ +4%
Net assets by fiscal year
FY2020$2.6M
FY2021$2.7M
FY2022$2.7M
FY2023$2.8M
FY2024$3.0M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1963.

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

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Business Mgr/Fincl Secr - Past
$0Pt VII · Sec A
Executive Board
$0Pt VII · Sec A
Business Mgr/Fincl Sec
$0Pt VII · Sec A
Executive Board
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Recording Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
See Electro Skill Corporation executive salaries →

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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

Programs and updates

Owns and manages properties for union members.

Provided by the organization

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1 program · in their own filed words · FY2023
01

The purpose of the corporation is to hold and maintain real estate on behalf of the membership of the ibew local 332. The local union office resides in the building owned by the corporation.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$1.0M
Other incomeLn 4–11$22K
Investment incomeLn 3$13K
Money outPt IX
$940K
Ln 25
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$940K
Total assetsLn 16$7.1M
LiabilitiesLn 26$4.2M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$13K
Other incomeLn 4–11$22K
Gains on assetsLn 7−$251
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$263K
SavingsLn 2$677K
Cash and savings togetherLn 1–2$940K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$6.1M
Other assetsLn 15$0
Total assetsLn 16$7.1M
LiabilitiesLn 26$4.2M
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$716K$940K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$6.4M$6.1M
Total assetsLn 16$7.1M$7.1M
LiabilitiesLn 26$4.4M$4.2M
Net assetsLn 32$2.7M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$118K
Legal feesLn 11b$777
Accounting feesLn 11c$13K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$159K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$128K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$21K
Other expenses (24a–d)Ln 24$207K
All other expensesLn 24e$294K
Total functional expensesLn 25$940K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$855K$204K$3.0M 990 PDF
FY2023 Viewing $1.0M$940K$103K$2.8M 990 PDF
FY2022 $955K$983K−$27K$2.7M 990 PDF
FY2021 $1.0M$884K$141K$2.7M 990 PDF
FY2020 $983K$998K−$14K$2.6M 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 FY2023 990 (5 parts)
Part I · Summary $1,042,976 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $951,444$1,007,608
I-10 Investment incomePrior year −$1,116$13,293
I-11 Other revenuePrior year $5,152$22,075
I-12 Total revenuePrior year $955,480$1,042,976
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $982,959$940,131
I-18 Total expensesPrior year $982,959$940,131
I-19 Revenue less expensesPrior year −$27,479$102,845
Part VIII · Statement of revenue $1,042,976 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,007,608 · Unrelated business $0 · Excluded from tax $0$1,007,608
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $13,544$13,544
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$251−$251
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $22,075 · Unrelated business $0 · Excluded from tax $0$22,075
VIII-12 Total revenueRelated to mission $1,029,683 · Unrelated business $0 · Excluded from tax $13,293$1,042,976
Part IX · Statement of functional expenses $940,131 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$117,655
IX-11b Legal fees$777
IX-11c Accounting fees$12,586
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$159,035
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$127,934
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$21,288
IX-24 Other expenses (24a–d)$206,888
IX-24e All other expenses$293,968
IX-25 Total functional expenses$940,131
Part X · Balance sheet $7,054,786 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $302,927$263,055
X-2 Savings and temporary cash investmentsStart of year $413,353$676,819
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $9,277$7,820
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $27,596$12,400
X-10c Land, buildings and equipment, netStart of year $6,388,911$6,094,692
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $7,142,064$7,054,786
X-17 Accounts payable and accrued expensesStart of year $19,819$70,634
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $46,635$40,010
X-26 Total liabilitiesStart of year $4,437,731$4,247,608
X-27 Net assets without donor restrictionsStart of year $2,704,333$2,807,178
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $2,704,333$2,807,178
X-33 Total liabilities and net assetsStart of year $7,142,064$7,054,786
Part XI · Reconciliation of net assets $2,807,178 net assets at year end
XI-1 Total revenue$1,042,976
XI-2 Total expenses$940,131
XI-3 Revenue less expenses$102,845
XI-4 Net assets at start of year$2,704,333
XI-10 Net assets at end of year$2,807,178

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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