Finishing Trades Institute of New England

Analysis

Finishing Trades Institute of New England is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in August 1968, 58 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Finishing Trades Institute of New England reported income of $6.5m and spending of $3.8m, leaving 42% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $6.5m (+34%), an average of +7.5% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 64% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Finishing Trades Institute of New England sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Junior League of Houston Inc ($6.5m), Greenpoint Manufacturing and Design Center Local Development Corp GMDC ($6.5m) and Project Evident Inc ($6.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.6% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $753k (20% of expenses). At year end it held assets of $18.1m against liabilities of $2.3m, net assets of $15.8m. It reported 36 employees.