North Atlantic States Carpenters Training Fund

Analysis

North Atlantic States Carpenters Training Fund is a registered charity in United States, based in Millbury, MA. It received its IRS tax-exemption ruling in October 1983, 43 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, North Atlantic States Carpenters Training Fund reported income of $21.9m and spending of $21.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.2m to $21.9m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2020, when income rose by 19%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, North Atlantic States Carpenters Training Fund sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Milwaukee Development Corporation ($21.9m), Fresno Area Workforce Investment Corporation ($22.0m) and Hudson Community Enterprises Inc ($21.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.9% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $515k (2.4% of expenses). Other salaries and wages came to $7.3m. At year end it held assets of $69.8m against liabilities of $14.0m, net assets of $55.8m. It reported 153 employees.