International Union of Operating Engineers Local 68 Education Fund

Analysis

International Union of Operating Engineers Local 68 Education Fund is a registered charity in United States, based in West Caldwell, NJ. It received its IRS tax-exemption ruling in August 1965, 61 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, International Union of Operating Engineers Local 68 Education Fund reported income of $2.2m and spending of $1.6m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $2.2m (-1.2%), an average of -0.3% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 63% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, International Union of Operating Engineers Local 68 Education Fund sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Northlands Rescue Mission Inc ($2.2m), Our Saviours Lutheran Development Corporation ($2.2m) and Van Cliburn Trust Fund ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 74% of the total. Compensation of current officers, directors and key employees was $5,670 (0.4% of expenses). Other salaries and wages came to $392k. At year end it held assets of $11.8m against liabilities of $6,080, net assets of $11.8m. It reported 10 employees.