Puget Sound Electrical Apprenticeship and Training Trust

Analysis

Puget Sound Electrical Apprenticeship and Training Trust is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in January 2001, 25 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 December 2023, Puget Sound Electrical Apprenticeship and Training Trust reported income of $9.6m and spending of $9.3m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.2m to $9.6m (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Puget Sound Electrical Apprenticeship and Training Trust sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within WA. Charities of a similar size with the same main cause include Califa Group ($9.6m), Christian Heritage School Inc ($9.6m) and Arkansas Tech University Foundation ($9.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $297k (3.2% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $21.1m against liabilities of $1.2m, net assets of $19.9m. It reported 74 employees.