Laborers Local 1298 Joint Apprenticeship & Training TR Fund

Analysis

Laborers Local 1298 Joint Apprenticeship & Training TR Fund is a registered charity in United States, based in Hempstead, NY. It received its IRS tax-exemption ruling in March 1997, 29 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 June 2023, Laborers Local 1298 Joint Apprenticeship & Training TR Fund reported income of $1.6m and spending of $1.7m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $1.6m (+12%), an average of +2.8% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Laborers Local 1298 Joint Apprenticeship & Training TR Fund sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Mamaroneck Community Nursery School ($1.6m), Lowenstine Fund Corporation ($1.6m) and Womens Empowerment ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.3m (75% of expenses). Other salaries and wages came to $8,828. At year end it held assets of $4.0m against liabilities of $6,473, net assets of $4.0m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.