Reinforced Iron Workers Riggers & Machinery Movers Apprentice Fund

Nonprofit profile at a glance

EIN
232041194
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2012
Location
Philadelphia, PA, USA
Phone
2154627300
Rating
58
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$300,056
Expenses
$344,669
Assets
$507,476
Liabilities
$141,903

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

Leadership & pay

7 people listed

Highest reported compensation

  • Mike Knobbs (Union Trustee): $272,174 total reported compensation
  • Len Ciancaglini (Union Trustee): $261,973 total reported compensation
  • Francis Kane (Past Union Trustee): $143,665 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 of members.

What it reported doing in 2024

Reinforced Iron Workers, Riggers & Machinery Movers Local 405 Apprentice Fund provided for the professional training of individual members working in job classifications covered by the collective bargaining agreements.

Operating model

Revenue model
Earned-program. 79% 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 55% for direct work, and 45% for member benefits.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 60
  • Accountability: 41
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.6%; rating input score 73
  • Program expense ratio: 66.8%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.9%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.47; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 87%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 72.6% of revenue deployed · 66.8% of spending went to programs
  • Governance: 3 of 6 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $230K in reported program spending
  • Leadership: top reported pay $272K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.