I E C Chesapeake Apprenticeship & Training Inc

Analysis

I E C Chesapeake Apprenticeship & Training Inc is a registered charity in United States, based in Laurel, MD. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, I E C Chesapeake Apprenticeship & Training Inc reported income of $3.7m and spending of $3.0m, spending 80% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.0m to $3.7m (+88%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, I E C Chesapeake Apprenticeship & Training Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Princeton House Charter School Inc ($3.7m), Florida League of International Baccalaureate Schools Inc ($3.7m) and University of Houston Law Foundation ($3.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.0% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $100k (3.4% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $5.0m against liabilities of $505k, net assets of $4.5m.