Augusta Electrical Joint Apprenticeship and Training Fund

Analysis

Augusta Electrical Joint Apprenticeship and Training Fund is a registered charity in United States, based in Newport, ME. It received its IRS tax-exemption ruling in April 2005, 21 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Augusta Electrical Joint Apprenticeship and Training Fund reported income of $953k and spending of $660k, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $367k to $953k (+160%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Augusta Electrical Joint Apprenticeship and Training Fund sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within ME. Charities of a similar size with the same main cause include Memphis Tomorrow ($953k), Girdwood Inc ($953k) and Wecode KC ($952k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $130k (20% of expenses). Other salaries and wages came to $166k. At year end it held assets of $1.1m against liabilities of $61k, net assets of $1.0m. It reported 10 employees.