Iron Workers Local 40 & 361 Apprenticeship & Training Fund

Analysis

Iron Workers Local 40 & 361 Apprenticeship & Training Fund is a registered charity in United States, based in Astoria, NY. It received its IRS tax-exemption ruling in February 1986, 40 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, Iron Workers Local 40 & 361 Apprenticeship & Training Fund reported income of $2.0m and spending of $2.7m, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $2.0m (-7.0%), an average of -1.8% a year. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Iron Workers Local 40 & 361 Apprenticeship & Training Fund sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Madera Coalition for Community ($2.0m), New Economy Project ($2.0m) and Smart Development Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $695k (26% of expenses). Other salaries and wages came to $617k. At year end it held assets of $2.9m against liabilities of $482k, net assets of $2.4m. It reported 13 employees.