Operating Engineers Local 478 Apprenticeship Training & Skill Im

Analysis

Operating Engineers Local 478 Apprenticeship Training & Skill Im is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in June 1973, 53 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Operating Engineers Local 478 Apprenticeship Training & Skill Im reported income of $5.0m and spending of $3.8m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $5.0m (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Operating Engineers Local 478 Apprenticeship Training & Skill Im sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Baby Talk Inc ($5.0m), American Agape Foundation Inc ($5.0m) and Milwaukee Economic Development Corp ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $298k (7.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $10.9m against liabilities of $392k, net assets of $10.5m. It reported 36 employees.