Insulators Local Union 41 Joint Apprenticeship Committee

Analysis

Insulators Local Union 41 Joint Apprenticeship Committee is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in August 1986, 40 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, Insulators Local Union 41 Joint Apprenticeship Committee reported income of $65k and spending of $110k, spending 170% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $219k to $65k (-70%), an average of -26% a year. The sharpest change came in the year to December 2021, when income dropped by 39%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Insulators Local Union 41 Joint Apprenticeship Committee sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 22nd percentile within IN. Charities of a similar size with the same main cause include Colorado Outreach Exchange ($65k), PTA California Congress of Parents Teachers & Students Inc ($65k) and The Monongahela Area Historical Society ($65k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10.0% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $28k (25% of expenses). Other salaries and wages came to $19k. At year end it held assets of $90k against liabilities of $4,591, net assets of $86k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.