Ironworkers Joint Apprenticeship Trust Fund 550

Analysis

Ironworkers Joint Apprenticeship Trust Fund 550 is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in January 1972, 54 years ago. 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 December 2023, Ironworkers Joint Apprenticeship Trust Fund 550 reported income of $504k and spending of $466k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $407k to $504k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2022, when income rose by 82%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ironworkers Joint Apprenticeship Trust Fund 550 sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within OH. Charities of a similar size with the same main cause include India Temple Association ($504k), Willkie House Incorporated ($504k) and Bach Society of St Louis ($504k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $73k (16% of expenses). Other salaries and wages came to $92k. At year end it held assets of $1.7m against liabilities of $479k, net assets of $1.2m. It reported 16 employees.