The Sheet Metal Workers Local 25 Education Fund

Analysis

The Sheet Metal Workers Local 25 Education Fund is a registered charity in United States, based in Carlstadt, NJ. It received its IRS tax-exemption ruling in February 2015, 11 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, The Sheet Metal Workers Local 25 Education Fund reported income of $1.3m and spending of $1.4m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.3m (+2.0%), an average of +0.5% a year. The sharpest change came in the year to December 2020, when income dropped by 21%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Sheet Metal Workers Local 25 Education 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 84th percentile within NJ. Charities of a similar size with the same main cause include Economic Development Alliance of Skagit County Foundation ($1.3m), University School of Milwaukee Endowment Fund Inc ($1.3m) and Forest Meadows Building Corporation ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $355k (25% of expenses). Other salaries and wages came to $95k. At year end it held assets of $1.8m against liabilities of $251k, net assets of $1.6m. It reported 11 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.