Overview
What is Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund?
The Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund is a nonprofit organization dedicated to educational purposes, primarily focusing on the training and education of individuals working in the field of Limited Energy electrical apprenticeships, installations, and technicians. Their mission encompasses providing a comprehensive apprenticeship and training program for suitable candidates, with the aim of enhancing their skills and knowledge in this sector. The Fund's activities are geared towards the betterment of these professionals, offering programs that further support their development.
Official website here: www.statewidelea.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
The Minnesota Statewide Limited Energy Apprenticeship & Training Trust Fund holds an 86% rating from Charity Navigator, indicating strong accountability and finance practices. This score reflects high marks in categories such as independent board governance and robust financial oversight, which are crucial for donor confidence and organizational transparency.
The organization boasts a fully independent board with no material asset diversions, highlighting its commitment to ethical management. Furthermore, the presence of comprehensive policies, including conflict of interest and whistleblower protections, reinforces its accountability framework. The financial health is demonstrated by a low liabilities-to-assets ratio, which suggests a solid balance sheet.
However, the program expense ratio of 61.87%, while acceptable, indicates that there is room for improvement in how funds are allocated toward direct program services. Overall, the organization shows a strong commitment to responsible governance, though it may need to enhance its program spending efficiency to improve its impact further.
This AI summary has been generated from information found on Charity Navigator.
Is Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund legitimate?
Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $574,233
For more financial information, click here
Official website here: www.statewidelea.org
What is the mission statement of Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund?
The Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund is established with an educational purpose. Its primary focus is to offer a comprehensive training and education program for Limited Energy electrical apprentices, installers, technicians, and other suitable individuals. The fund aims to enhance their skills through this program, contributing to their personal and professional growth in the electrical field. The activities of the fund are geared towards the advancement of apprenticeship training, ultimately benefiting the electrical industry as a whole.
Official website here: www.statewidelea.org
What is the revenue of Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund?
Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund's revenue in 2024 was $1,728,562.
Official website here: www.statewidelea.org
Who are the executives of Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund and what are their salaries?
The average compensation at Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund during 2024 was $63,804. There are 9 employees at Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund.
Here are 16 key members and their salaries:
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- Compensation: $118,485
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- Compensation: $105,927
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- Other: $35,968
- Compensation: $105,170
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- Other: $35,661
- Compensation: $103,486
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- Other: $35,640
Official website here: www.statewidelea.org
Where can I find the form 990 for Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund?
Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.statewidelea.org
Learn more at the official website: www.statewidelea.org
Mission Statement of Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund
The Minnesota Statewide Limited Energy Apprenticeship & Training Trust Fund, in its mission, is dedicated to educational purposes, primarily focused on the training and education of Limited Energy electrical apprentices, installers, technicians, and other suitable individuals. This nonprofit organization establishes and oversees programs aimed at enhancing the skills and knowledge of these professionals, thereby contributing to the broader electrical industry. Their commitment extends beyond the apprenticeship program, encompassing initiatives that further the development of these individuals towards becoming competent Limited Energy electrical professionals.
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Impact
July, 2024
The Minnesota Statewide Limited Energy Apprenticeship & Training Trust Fund plays a crucial role in providing educational and training opportunities for limited energy electrical apprentices, installers, technicians, and other relevant individuals. By offering programs geared towards enhancing the skills and knowledge of these individuals, the Trust Fund contributes to the development of a skilled workforce in the limited energy sector. This, in turn, has a positive impact on the industry by ensuring that there is a steady supply of well-trained professionals capable of meeting the demands of the field. The Trust Fund's focus on education and training not only benefits the apprentices and participants directly involved but also contributes to the overall growth and sustainability of the limited energy industry in Minnesota.
This information is meant to be a general summary of Minnesota Statewide Limited Energy Apprenticeship & Training Tr Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $21,008
- Program Service Revenue: $1,538,785
- Gross Receipts: $1,728,562
Assets and Liabilities:
- Total Assets: $1,209,314
- Total Liabilities: $27,896
- Net Assets: $1,181,418
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$863,709
PARTICIPANT CONTRIBUTI
Revenue
$613,291
EDUCATIONAL MATERIAL
Revenue
$49,355
APPLICATION FEES
Revenue
$7,230
CONTINUING EDUCATION S
Revenue
$4,200
Organization Details
Founding Year
2003
Principal Officer
Phil Myers
Website
www.statewidelea.orgNTEE Category
Code: B30 - Education
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