Mechanics Local 701 Training Fund

Analysis

Mechanics Local 701 Training Fund is a registered charity in United States, based in Carol Stream, IL. It received its IRS tax-exemption ruling in March 2011, 15 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, Mechanics Local 701 Training Fund reported income of $1.3m and spending of $1.0m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $778k to $1.3m (+69%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mechanics Local 701 Training Fund sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within IL. Charities of a similar size with the same main cause include Lanse Creuse High School Central Band Boosters Inc ($1.3m), Climate Generation ($1.3m) and Parkland Community Library ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 66% of the total. Other salaries and wages came to $409k. At year end it held assets of $1.3m against liabilities of $2,706, net assets of $1.3m. It reported 11 employees.