Boilermakers Local Lodge 647 Education Trust

Analysis

Boilermakers Local Lodge 647 Education Trust is a registered charity in United States, based in Ramsey, MN. It received its IRS tax-exemption ruling in April 2003, 23 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, Boilermakers Local Lodge 647 Education Trust reported income of $1.0m and spending of $1.0m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $787k to $1.0m (+33%), an average of +7.3% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Boilermakers Local Lodge 647 Education Trust sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Practice Space Inc ($1.0m), Bnos Yisroel of Houston Inc ($1.0m) and Hold on to Your Music Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $359k. At year end it held assets of $322k against liabilities of $6,529, net assets of $316k. It reported 8 employees.