Finishing Trades Institute of Southern New England Inc

Nonprofit profile at a glance

EIN
061530354
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Middletown, CT, USA
Phone
8606130700
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$3,405,002
Expenses
$2,653,062
Assets
$3,512,033
Liabilities
$10,784

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Highest reported compensation

  • MIKE KOMAROMI (DIRECTOR OF TRAINING): $224,471 total reported compensation
  • ANGELA GALLOZA (INSTRUCTOR): $203,501 total reported compensation
  • JONATHAN PLYMPTON (INSTRUCTOR): $203,501 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Maintenance of a joint apprentice training program in Connecticut and Rhode Island for eligible members of district council 11, providing educational programs, on-site training, continued skills development, and safety training.

Operating model

Revenue model
Earned-program. 82% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 66
  • Accountability: 94
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.3%; rating input score 52
  • Program expense ratio: 68.3%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 86
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 36%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 52.3% of revenue deployed · 68.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $224K · 15 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.