Asbestos Workers Local 14 Scholarship Fund

Analysis

Asbestos Workers Local 14 Scholarship Fund is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 2000, 26 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 June 2023, Asbestos Workers Local 14 Scholarship Fund reported income of $295k and spending of $223k, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $186k to $295k (+58%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 90% 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 14 Scholarship Fund sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within PA. Charities of a similar size with the same main cause include Acts Community Development ($295k), Urban Development Center Inc ($295k) and Power of Love Foundation ($295k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 25% of the total. At year end it held assets of $145k against liabilities of $0, net assets of $145k.