Finishing Trades Institute of the Great Lakes

Analysis

Finishing Trades Institute of the Great Lakes is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in July 1979, 47 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 May 2023, Finishing Trades Institute of the Great Lakes reported income of $2.1m and spending of $892k, leaving 58% of income unspent that year. Across the 3 years on record, from May 2021 to May 2023, income grew from $834k to $2.1m (+153%), an average of +59% a year. The sharpest change came in the year to May 2023, when income rose by 156%. Over the whole period it spent 60% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Finishing Trades Institute of the Great Lakes sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include National Association of Diversity Officers in Higher Education ($2.1m), Together Rising As an Environmental Community ($2.1m) and Elizabeth Development Company of New Jersey ($2.1m).

On its Form 990 for the period ending May 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1,157 (0.1% of expenses). Other salaries and wages came to $384k. At year end it held assets of $3.5m against liabilities of $51k, net assets of $3.4m. It reported 5 employees.