Ibew Local 1049 Craft Division Skill Improvement Fund

Analysis

Ibew Local 1049 Craft Division Skill Improvement Fund is a registered charity in United States, based in Holtsville, NY. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Ibew Local 1049 Craft Division Skill Improvement Fund reported income of $2.2m and spending of $2.4m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.1m to $2.2m (-27%), an average of -7.7% a year. The sharpest change came in the year to December 2022, when income dropped by 49%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ibew Local 1049 Craft Division Skill Improvement Fund sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Kansas Leadership Center Inc ($2.2m), Unitypoint Broadlawns Psychiatry Education Foundation ($2.2m) and Montessori School of Camden ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $314k (13% of expenses). Other salaries and wages came to $331k. At year end it held assets of $16.0m against liabilities of $220k, net assets of $15.8m. It reported 14 employees.