Boilermakers Local Lodge 647 Education Trust

Nonprofit profile at a glance

EIN
820551067
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Ramsey, MN, USA
Phone
7637129930
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$1,522,204
Expenses
$1,119,199
Assets
$912,612
Liabilities
$4,346

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • LUKE VOIGT (TRUSTEE)
  • SCOTT HOLLERUD (TRUSTEE)
  • DAN SULIVAN (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Apprentice training fund

What it reported doing in 2024

To provide training and education courses to participants covered under collective bargaining agreements of international brotherhood of boilermakers, iron ship builders, blacksmiths, forgers and helpers lodge no. 647.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.5%; rating input score 70
  • Program expense ratio: 95.9%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.5%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 70.5% of revenue deployed · 95.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.