Asbestos Workers Local Union No 14 Joint Apprenticeship Training Fund

Analysis

Asbestos Workers Local Union No 14 Joint Apprenticeship Training Fund is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 1970, 56 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Asbestos Workers Local Union No 14 Joint Apprenticeship Training Fund reported income of $1.2m and spending of $1.2m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.2m (+6.5%), an average of +1.6% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Asbestos Workers Local Union No 14 Joint Apprenticeship Training Fund sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Urban Partnerships Community Development Corporation ($1.2m), Nussbaum Center for Entrepreneurship Inc ($1.2m) and Lighthouse Outreach Center of Bartlesville Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $291k (25% of expenses). Other salaries and wages came to $237k. At year end it held assets of $2.1m against liabilities of $913k, net assets of $1.2m. It reported 11 employees.