Newark Electrical Joint Apprenticeship and Training Trust

Analysis

Newark Electrical Joint Apprenticeship and Training Trust is a registered charity in United States, based in Heath, OH. It received its IRS tax-exemption ruling in December 1992, 34 years ago. 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 December 2023, Newark Electrical Joint Apprenticeship and Training Trust reported income of $1.5m and spending of $1.7m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $876k to $1.5m (+72%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newark Electrical Joint Apprenticeship and Training Trust sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Sunshine State Economic Development Corp ($1.5m), Sauk Valley College Foundation ($1.5m) and Western Native Voice ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 80% of the total. Other salaries and wages came to $577k. At year end it held assets of $3.3m against liabilities of $540k, net assets of $2.7m. It reported 23 employees.