Alaska Operating Engineers Employers Training Trust Fund

Analysis

Alaska Operating Engineers Employers Training Trust Fund is a registered charity in United States, based in Palmer, AK. It received its IRS tax-exemption ruling in October 1976, 50 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Alaska Operating Engineers Employers Training Trust Fund reported income of $4.1m and spending of $4.9m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.0m to $4.1m (+2.6%), an average of +0.6% a year. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Alaska Operating Engineers Employers Training Trust Fund sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within AK. Charities of a similar size with the same main cause include Grove Park Foundation Inc ($4.1m), Riverfront Development Corporation of Delaware ($4.1m) and Community Partnership of Southeast Missouri ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.6% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $201k (4.1% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $11.4m against liabilities of $177k, net assets of $11.2m. It reported 35 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.