Overview
What is Local 251 Training Fund?
The Local 251 Training Fund is a nonprofit organization situated in Providence, Rhode Island (RI). With a team of nine dedicated individuals, their primary mission is to educate and train both their members and unemployed individuals from both RI and Massachusetts (MA). Their goal is to equip these individuals with specialized skills, thereby enhancing their employability prospects. The organization's activities are centered around this objective, providing a platform for individuals to acquire the necessary skills to excel in their respective fields.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (65%, Two-Star out of Four Stars)
The Local 251 Training Fund has received a rating indicating that it needs improvement, with a score of 65%. While the organization excels in accountability and finance, achieving a perfect score in that category, it has significant weaknesses in governance practices. Notably, there are no independent board members, which raises concerns about oversight and conflict of interest management. The absence of various essential policies, such as a conflict of interest policy and a whistleblower policy, further underscores these governance issues.
Despite these shortcomings, the fund demonstrates a strong commitment to its programs, with a program expense ratio of 94.51%. This high percentage suggests that the majority of its expenditures directly support its mission-related activities. Additionally, the organization maintains a low liabilities to assets ratio of 9.64%, indicating solid financial health in terms of asset management.
However, the lack of transparency is a significant concern, as important documents like board meeting minutes and tax forms are not posted on the nonprofit's website. This lack of information may hinder potential donors' trust and engagement with the organization. Overall, while the Local 251 Training Fund shows dedication to its programs, it must address its governance and transparency issues to improve its standing and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Local 251 Training Fund legitimate?
Local 251 Training Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Local 251 Training 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: $100,760
For more financial information, click here
What is the mission statement of Local 251 Training Fund?
The Local 251 Training Fund is committed to training and educating individuals in specialized skills, enabling them to qualify for employment opportunities. This non-profit organization targets both its members and the unemployed from the states of Rhode Island and Massachusetts. By providing this training, the Local 251 Training Fund aims to increase the employability of these individuals, potentially contributing to their personal growth and economic stability. The organization's mission aligns with the goal of bridging the skills gap in the workforce, thereby promoting a more skilled and employable population.
Who is the CEO of Local 251 Training Fund?
Matthew Taibi is the Trustee of Local 251 Training Fund.
What is the revenue of Local 251 Training Fund?
Local 251 Training Fund's revenue in 2022 was $506,948.
Who are the executives of Local 251 Training Fund and what are their salaries?
The average compensation at Local 251 Training Fund during 2022 was $11,196. There are 9 employees at Local 251 Training Fund.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Local 251 Training Fund?
Local 251 Training Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local 251 Training Fund
Local 251 Training Fund is an organization dedicated to educating and training individuals in specialized skills, with the ultimate goal of preparing them for employment opportunities. This nonprofit focuses on equipping its members and unemployed individuals from the states of Rhode Island and Massachusetts with the necessary skills to qualify for various employment sectors. By providing comprehensive training programs, Local 251 Training Fund plays a significant role in enhancing the employability of its trainees, thereby contributing to their personal and professional growth.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Local 251 Training Fund's impact is significant in training and educating individuals in specialized skills to qualify for employment. Through its programs, it equips members and unemployed individuals in Rhode Island and Massachusetts with the necessary skills to secure employment opportunities. This initiative is vital in enhancing the workforce and providing individuals with the tools they need to succeed in their careers.
This information is meant to be a general summary of Local 251 Training 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 2022.
- Investment Income: $8,411
- Program Service Revenue: $471,739
- Gross Receipts: $507,548
Assets and Liabilities:
- Total Assets: $287,654
- Total Liabilities: $34,102
- Net Assets: $253,552
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Employer contributions
Revenue
$59,340
Miscellaneous
Revenue
$1,318
State of RI reimbursement
Revenue
$321,417
Tuition-member/nonmember
Revenue
$89,664
Organization Details
Phone
(401) 467-3323Principal Officer
Matthew Taibi
Main Address
1201 Elmwood Avenue, Providence, RI, 02907
NTEE Category
Code: B990 - Education
If you are a representative of Local 251 Training Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.