Overview
What is Steamfitters Local 420 Apprenticeship And Journeyman Training Fund?
Steamfitters Local 420 Apprenticeship and Journeyman Training Fund is a nonprofit organization situated in Philadelphia, Pennsylvania. Its primary focus is providing structured training for apprentices and journeymen in the steamfitters' local union number 420. This training aims to maintain the high level of skill and competence required in the pipe trades. The apprenticeship program is considered the most practical and comprehensive method to prepare individuals for skilled craft work and ensure an adequate supply of skilled workers in the industry. Currently, there are approximately 400 day and evening students enrolled in this program. The organization's mission is entirely dedicated to this purpose, with all revenues and expenses supporting this noble cause.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
The Steamfitters Local 420 Apprenticeship And Journeyman Training Fund has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The charity's score is driven entirely by its accountability and finance metrics, which are strong indicators of its financial health and transparency.
One of the organization's notable strengths includes having a fully independent board, which is essential for governance and oversight. Additionally, the fund has demonstrated high financial integrity, with a thorough audit of financial statements and no material diversion of assets reported. The program expense ratio is also impressive, with over 87% of expenditures directed towards its programmatic activities, ensuring that funds are effectively utilized for their intended purpose.
While the ratings highlight many strengths, it is important for potential donors and stakeholders to consider the overall impact of the programs offered relative to their financial management. The high score in accountability indicates responsible stewardship, yet further details on program outcomes and community impact would provide a more comprehensive view of the organization's effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Steamfitters Local 420 Apprenticeship And Journeyman Training Fund legitimate?
Steamfitters Local 420 Apprenticeship And Journeyman Training Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Steamfitters Local 420 Apprenticeship And Journeyman 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: $1,605,242
Professional Fundraising Fees: $0
Other Salaries and Wages: $642,337
For more financial information, click here
What is the mission statement of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund?
The Steamfitters Local 420 Apprenticeship and Journeyman Training Fund recognizes the importance of structured training to maintain a high level of skill and competence required in the pipe trades. Registered apprenticeship is deemed the most practical and effective method to achieve this goal, preparing individuals to become skilled craft workers and ensuring an adequate supply of skilled workers within the industry. Essentially, the organization's primary program service is to provide apprenticeship training. All revenues and expenses are allocated towards this purpose.
Who is the CEO of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund?
Thomas F Redden Iii is the Trustee of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund.
What is the revenue of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund?
Steamfitters Local 420 Apprenticeship And Journeyman Training Fund's revenue in 2022 was $3,668,942.
Who are the executives of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund and what are their salaries?
The average compensation at Steamfitters Local 420 Apprenticeship And Journeyman Training Fund during 2022 was $70,237. There are 32 employees at Steamfitters Local 420 Apprenticeship And Journeyman Training Fund.
Here are 19 key members and their salaries:
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- Compensation: $147,540
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- Other: $79,907
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- Compensation: $180,670
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- Other: $79,907
- Compensation: $108,374
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- Other: $50,716
Where can I find the form 990 for Steamfitters Local 420 Apprenticeship And Journeyman Training Fund?
Steamfitters Local 420 Apprenticeship And Journeyman Training Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Steamfitters Local 420 Apprenticeship And Journeyman Training Fund
Steamfitters Local 420 Apprenticeship and Journeyman Training Fund recognizes the importance of structured training in maintaining the high level of skill and competence required in the pipe trades. To fulfill this need, the organization offers a registered apprenticeship program, which is considered the most practical and effective method to prepare individuals to become skilled craft workers and ensure an adequate supply of skilled workers within the industry. The primary goal of this nonprofit is to provide a comprehensive education program that equips apprentices and journeymen with the necessary skills and knowledge required in the pipe trades. All revenues and expenses are directed towards this purpose, making this the sole program service provided by Steamfitters Local 420 Apprenticeship and Journeyman Training Fund.
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Impact
October, 2024
The Steamfitters Local 420 Apprenticeship and Journeyman Training Fund significantly impacts the workforce within the pipe trades in Philadelphia and beyond. By providing structured training, it equips approximately 400 apprentices and journeymen with essential skills and knowledge necessary to excel in their craft. This comprehensive education ensures that participants are well-prepared to meet the industry's high standards for skill and competence.
The program addresses the critical need for a steady supply of skilled workers in the steamfitting field, fostering a pipeline of talent that supports the local economy and infrastructure. Through hands-on training and classroom instruction, apprentices develop practical skills that enhance safety, efficiency, and expertise in their work, ultimately benefiting employers and clients alike. The Fund's mission contributes to raising the overall quality and reliability of work in the industry, reinforcing the significance of well-trained professionals in maintaining and advancing the standards of the pipe trades.
This information is meant to be a general summary of Steamfitters Local 420 Apprenticeship And Journeyman 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: -$1
- Program Service Revenue: $3,648,481
- Gross Receipts: $3,669,571
Assets and Liabilities:
- Total Assets: $3,714,254
- Total Liabilities: $9,693
- Net Assets: $3,704,561
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECEIPTS FROM EMPLOYER
Revenue
$3,505,174
STUDENT FEES
Revenue
$115,128
WELDING PROGRAM RECEIP
Revenue
$28,179
Organization Details
Founding Year
1955
Phone
(267) 350-2600Principal Officer
Thomas F Redden Iii
Main Address
14420 TOWNSEND ROAD SUITE C, PHILADELPHIA, PA, 19154
NTEE Category
Code: J22Z - Employment
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