Local 470 Apprenticeship Fund

Analysis

Local 470 Apprenticeship Fund is a registered charity in United States, based in Graniteville, SC. It received its IRS tax-exemption ruling in November 2016, 10 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Local 470 Apprenticeship Fund reported income of $315k and spending of $312k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $264k to $315k (+19%), an average of +4.5% a year. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Local 470 Apprenticeship Fund sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 67th percentile within SC. Charities of a similar size with the same main cause include Karl Perl Charitable TR ($315k), Beautyunited ($315k) and Olde Worthington Business Association ($315k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $102k (33% of expenses). Other salaries and wages came to $2,292. At year end it held assets of $219k against liabilities of $4,466, net assets of $214k. It reported 2 employees.