New York Lathers Apprenticeship Fund

Analysis

New York Lathers Apprenticeship Fund is a registered charity in United States, based in Woodside, NY. It received its IRS tax-exemption ruling in February 1981, 45 years ago. The IRS classifies it as a suspense under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New York Lathers Apprenticeship Fund reported income of $1.1m and spending of $1.2m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $978k to $1.1m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 154% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New York Lathers Apprenticeship Fund sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include The Towers Foundation Inc ($1.1m), World Association for Infant Mental Health Inc ($1.1m) and Big Oak Child Care Center Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 42% of the total. Compensation of current officers, directors and key employees was $230k (18% of expenses). Other salaries and wages came to $220k. At year end it held assets of $4.4m against liabilities of $30k, net assets of $4.4m. It reported 16 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.