Iuoe Local 877 Apprentice Training & Skill Improvement Fund

Nonprofit profile at a glance

EIN
046849959
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Norwood, MA, USA
Phone
7817691877
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Reported finances

Revenue
$248,386
Expenses
$145,253
Assets
$624,582
Liabilities
$144,008

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

Leadership & pay

2 people listed

People named in this filing

  • MICHAEL CANNISTRARO (TRUSTEE)
  • ANTHONY PISANO (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

The purpose of this fund is to maintain a school to train and improve the skills of students to provide a continuous and sufficient pool of skilled engineers.

What it reported doing in 2024

Maintained a school to train and improve the skills of students to provide a continuous and sufficient pool of skilled engineers.

Operating model

Revenue model
Earned-program. 94% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.7%; rating input score 44
  • Program expense ratio: 79.3%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 41.5%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 4.3; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -4.9% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 17.6% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 12.5% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 43.7% of revenue deployed · 79.3% of spending went to programs
  • Governance: 2 of 2 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $115K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.