Iupat Finishing Trades Institute

Analysis

Iupat Finishing Trades Institute is a registered charity in United States, based in Hanover, MD. It received its IRS tax-exemption ruling in July 1996, 30 years ago. 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, Iupat Finishing Trades Institute reported income of $9.1m and spending of $9.9m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.7m to $9.1m (-5.7%), an average of -1.5% a year. The sharpest change came in the year to June 2021, when income dropped by 22%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Iupat Finishing Trades Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Barc Housing Inc ($9.1m), Links Foundation Inc ($9.1m) and Pacific Historic Parks ($9.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.0% and program service revenue 92% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $18.4m against liabilities of $4.2m, net assets of $14.2m. It reported 17 employees.