Plumbers & Steamfitters Local 7 Apprentice Training Fund

Analysis

Plumbers & Steamfitters Local 7 Apprentice Training Fund is a registered charity in United States, based in Latham, NY. It received its IRS tax-exemption ruling in October 1973, 53 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Plumbers & Steamfitters Local 7 Apprentice Training Fund reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $1.2m (+9.8%), an average of +3.2% a year. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Plumbers & Steamfitters Local 7 Apprentice 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 78th percentile within NY. Charities of a similar size with the same main cause include City Thread ($1.2m), Lighthouse Outreach Center of Bartlesville Inc ($1.2m) and Red Ants Pants Foundation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.5% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $7,118 (0.6% of expenses). Other salaries and wages came to $375k. At year end it held assets of $2.0m against liabilities of $15k, net assets of $1.9m. It reported 28 employees.