Laborers' Local 621 Training Fund

Nonprofit profile at a glance

EIN
223101756
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Olean, NY, USA
Phone
7163722639
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$281,370
Expenses
$336,894
Assets
$347,989
Liabilities
$10,324

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

Leadership & pay

6 people listed

People named in this filing

  • DONALD GIARDINI (LABOR TRUSTEE)
  • VERGILO GIARDINI (LABOR TRUSTEE)
  • EDWARD GIARDINI (BUSINESS MANAGER)

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

To provide educational resources and training to the union members of the affiliated organization.

What it reported doing in 2024

The organization provides educational resources and training to the union members of laborers' international union of north america local 621 building and heavy highway construction. The organization held approximately 20 various training sessions during the year.

Operating model

Revenue model
Earned-program. 97% 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 41% for direct work, and 59% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 75
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.4%; rating input score 74
  • Program expense ratio: 65.4%; rating input score 65
  • 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: -19.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 23.1% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 74.4% of revenue deployed · 65.4% of spending went to programs
  • Governance: 4 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $220K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.