Sheet Metal Workers Local Union No 28 Education Fund

Analysis

Sheet Metal Workers Local Union No 28 Education Fund is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in November 1978, 48 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, Sheet Metal Workers Local Union No 28 Education Fund reported income of $5.4m and spending of $3.9m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $5.4m (+12%), an average of +2.9% a year. The sharpest change came in the year to December 2021, when income rose by 36%. 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, Sheet Metal Workers Local Union No 28 Education Fund sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Desert Garden Montessori School Inc ($5.4m), Appalachian College of Pharmacy ($5.4m) and Heartland Workforce Solutions Inc ($5.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $332k (8.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $25.1m against liabilities of $10.0m, net assets of $15.1m. It reported 30 employees.