Ibew Local Union 363 Joint Apprentice Training Fund

Analysis

Ibew Local Union 363 Joint Apprentice Training Fund is a registered charity in United States, based in Harriman, NY. It received its IRS tax-exemption ruling in January 1977, 49 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Ibew Local Union 363 Joint Apprentice Training Fund reported income of $2.0m and spending of $1.5m, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $2.0m (+5.9%), an average of +1.5% a year. The sharpest change came in the year to December 2023, when income rose by 106%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ibew Local Union 363 Joint Apprentice 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 Training Grounds Inc ($2.0m), Neighborhood Farmers Market Alliance ($2.0m) and Columbia Industries ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 82% of the total. Compensation of current officers, directors and key employees was $157k (11% of expenses). Other salaries and wages came to $241k. At year end it held assets of $7.6m against liabilities of $23k, net assets of $7.5m. It reported 21 employees.