Galveston Electrical Joint Apprenticeship & Training Trust Fu

Analysis

Galveston Electrical Joint Apprenticeship & Training Trust Fu is a registered charity in United States, based in Texas City, TX. It received its IRS tax-exemption ruling in August 1968, 58 years ago. 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 July 2023, Galveston Electrical Joint Apprenticeship & Training Trust Fu reported income of $171k and spending of $197k, spending 115% of what it took in. Across the 4 years on record, from July 2020 to July 2023, income fell from $177k to $171k (-2.9%), an average of -1.0% a year. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Galveston Electrical Joint Apprenticeship & Training Trust Fu sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within TX. Charities of a similar size with the same main cause include Morgan County Historical Society Inc ($171k), Naval Academy Sailing Foundation Inc ($171k) and Eden Prairie Girls Basketball ($171k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $85k (43% of expenses). At year end it held assets of $181k against liabilities of $5,092, net assets of $176k. It reported 1 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.