Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund

Analysis

Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 1973, 53 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2023, Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund reported income of $3.8m and spending of $4.2m, spending 112% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income grew from $3.4m to $3.8m (+10.0%), an average of +2.4% a year. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Chicago Neighborhood Initiatives Inc ($3.8m), Council of Community Services ($3.8m) and Workers Lab ($3.8m).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 1.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.9m (44% of expenses). Other salaries and wages came to $637k. At year end it held assets of $4.3m against liabilities of $1.0m, net assets of $3.3m. 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.