Ironworkers Joint Appenticeship Trust Fund 550

Nonprofit profile at a glance

EIN
341085729
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Canton, OH, USA
Phone
3304555164
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$508,499
Expenses
$534,897
Assets
$1,558,373
Liabilities
$456,688

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

Leadership & pay

7 people listed

Highest reported compensation

  • Shawn McCartney (CoordinatorTrustee): $90,692 total reported compensation
  • Sean Dickmann (Chairman): $69,015 total reported compensation
  • Gary Felgenhauer (Trustee): $54,065 total reported compensation

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

Overview

Mission

Education & Training of Apprentices

What it reported doing in 2024

Training of Apprentices Via a four-year program to enter the job market as Journeyman Ironworkers

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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 a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 100
  • Accountability: 57
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.7%; rating input score 86
  • Program expense ratio: 81.5%; rating input score 81
  • 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: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.2%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 2.91; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 24.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 85.7% of revenue deployed · 81.5% of spending went to programs
  • Governance: 3 of 6 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $436K in reported program spending
  • Leadership: top reported pay $91K · 7 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.