Puget Sound Employers-Boilermakers Apprenticeship & Training Trust

Analysis

Puget Sound Employers-Boilermakers Apprenticeship & Training Trust is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Puget Sound Employers-Boilermakers Apprenticeship & Training Trust reported income of $245k and spending of $280k, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $305k to $245k (-20%), an average of -5.3% a year. The sharpest change came in the year to June 2022, when income dropped by 18%. Over the whole period it spent 120% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Puget Sound Employers-Boilermakers Apprenticeship & Training Trust sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within WA. Charities of a similar size with the same main cause include CRSVLV College Preparatory Inc ($245k), Lead Enrich Achieve Progress ($245k) and Parent Booster USA Inc ($245k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $144k. At year end it held assets of $426k against liabilities of $75k, net assets of $351k. It reported 5 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.