Iron Workers Local Union 8 Joint Apprntcshp&adv Jrnymn Trng Tr Fd

Nonprofit profile at a glance

EIN
391143963
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4144769372
Rating
54
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$2,759,243
Expenses
$2,315,551
Assets
$8,911,932
Liabilities
$3,491,806

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

Leadership & pay

11 people listed

Highest reported compensation

  • RICHARD HANSON (APPRENTICESHIP COORDINATOR): $219,847 total reported compensation
  • JOHN RAUCH (UNION TRUSTEE): $540 total reported compensation
  • CHARLIE FALKNER (CHAIRMAN): $540 total reported compensation

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

Overview

Mission

Training and retraining of apprentices and journeymen iron workers

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for member benefits.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 65
  • Accountability: 23
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.9%; rating input score 55
  • Program expense ratio: 66.3%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.1%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 3.85; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 14.3% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 54.9% of revenue deployed · 66.3% of spending went to programs
  • Governance: 0 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $220K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.