Smart Local Union No 49 Joint Apprenticeship and Training Trust

Analysis

Smart Local Union No 49 Joint Apprenticeship and Training Trust is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 1971, 55 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 2024, Smart Local Union No 49 Joint Apprenticeship and Training Trust reported income of $2.4m and spending of $1.4m, leaving 41% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $622k to $2.4m (+289%), an average of +40% a year. The sharpest change came in the year to June 2023, when income rose by 149%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Smart Local Union No 49 Joint Apprenticeship and Training Trust sits at the 87th 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 NM. Charities of a similar size with the same main cause include Western Illinois Works Inc ($2.4m), Aglaunch Initiative ($2.4m) and North Texas Electrical Joint Apprenticeship and Training TR Fun ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 96% of the total. Other salaries and wages came to $402k. At year end it held assets of $3.7m against liabilities of $137k, net assets of $3.6m. It reported 7 employees.