Eastern Atlantic States Carpenters Technical College

Analysis

Eastern Atlantic States Carpenters Technical College is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1989, 37 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, Eastern Atlantic States Carpenters Technical College reported income of $12.0m and spending of $14.7m, spending 122% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $7.2m to $12.0m (+67%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 154%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Eastern Atlantic States Carpenters Technical College sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within PA. Charities of a similar size with the same main cause include South Bronx Overall Economic Development Corporation ($12.0m), Allegany County Human Resources Development Commission Inc ($12.0m) and Trufund Financial Services Inc ($12.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.7m (12% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $31.4m against liabilities of $1.4m, net assets of $29.9m. It reported 32 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.