South Central Minn Elec Industry Joint Apprentshp & Train Trust FD

Analysis

South Central Minn Elec Industry Joint Apprentshp & Train Trust FD is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in February 1978, 48 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, South Central Minn Elec Industry Joint Apprentshp & Train Trust FD reported income of $1.1m and spending of $1.1m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.1m (+7.6%), an average of +1.9% a year. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Central Minn Elec Industry Joint Apprentshp & Train Trust FD sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Wanada Automobile Dealer Educationinstitute ($1.1m), Florida Institute for Workforce Innovation ($1.1m) and Central United Methodist Church of Detroit Community Development Corp ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $12k (1.1% of expenses). Other salaries and wages came to $561k. At year end it held assets of $1.6m against liabilities of $410k, net assets of $1.2m. It reported 9 employees.