Finishing Trades Institute of Western and Central New York

Analysis

Finishing Trades Institute of Western and Central New York is a registered charity in United States, based in Cheektowaga, NY. It received its IRS tax-exemption ruling in March 1973, 53 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 May 2024, Finishing Trades Institute of Western and Central New York reported income of $1.4m and spending of $1.6m, spending 108% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $1.5m to $1.4m (-2.5%), an average of -0.5% a year. The sharpest change came in the year to May 2023, when income rose by 22%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Finishing Trades Institute of Western and Central New York 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 83rd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Discovery Plus Academy ($1.4m), Next Step Housing ($1.4m) and India Transformed ($1.4m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 11% and program service revenue 89% of the total. Other salaries and wages came to $608k. At year end it held assets of $1.6m against liabilities of $83k, net assets of $1.5m. It reported 21 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.