Overview
What is Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund?
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund is a nonprofit organization located in Norwalk, Ohio, with a focus on the plumbing and pipefitting trade. Their primary mission is to offer training opportunities to individuals looking to join this field and to maintain the certifications of existing members. With a workforce of 22 employees, they provide instruction, education, and other beneficial services to their members and employees. Their activities are centered around enhancing the skills and knowledge of individuals in the plumbing trade, ensuring they are equipped with the necessary competencies to excel in their respective roles.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 46%, Zero-Star out of Four Star rating. The low score reflects a concerning lack of financial health, particularly in the program expense ratio, which is below the expected threshold for effective nonprofit operation. While the organization has received high marks for accountability and finance practices, this single beacon score emphasizes the need for improved funding allocation towards programs.
The organization demonstrates a strong governance structure, with 75% of its board members being independent, and it has effective oversight mechanisms in place, such as an Audit and Oversight Committee. Document retention and the availability of board meeting minutes contribute positively to its accountability profile, highlighting a commitment to transparency.
However, the trust fund's financial management raises significant concerns, especially its liabilities to assets ratio of 10.84% and a program expense ratio of only 48.96%. This indicates that a smaller portion of its resources is being directed towards its intended programs, which may hinder its impact in the community. User feedback suggests a need for greater financial efficiency and clarity in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund legitimate?
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust 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: $76,202
Professional Fundraising Fees: $0
Other Salaries and Wages: $84,629
For more financial information, click here
What is the mission statement of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund?
The Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund is committed to providing training for individuals aiming to enter the plumbing trade. This mission extends to keeping current members certified as well. The organization offers instruction and training in the plumbing and pipefitting trade, and provides various services or benefits to its members or employees. In essence, the Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund is dedicated to equipping and updating individuals in the plumbing trade, ensuring they maintain the necessary skills and certifications to excel in their profession.
Who is the CEO of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund?
Dan Lucas is the Trustee of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund.
What is the revenue of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund?
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund's revenue in 2022 was $467,091.
Who are the executives of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund and what are their salaries?
The average compensation at Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund during 2022 was $7,310. There are 22 employees at Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $91,917
- Other: $76,610
- Compensation: $0
- Related: $81,825
- Other: $73,164
- Compensation: $62,892
- Related: $0
- Other: $41,156
- Compensation: $24,192
- Related: $0
- Other: $10,749
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund?
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund is dedicated to providing training opportunities for individuals aiming to enter the plumbing trade. This nonprofit organization's mission extends beyond just onboarding newcomers; it also focuses on keeping existing members certified and up-to-date in their field. The Trust Fund offers instruction and training in the plumbing and pipefitting trade, as well as various services or benefits to its members or employees. This commitment to education and professional development ensures that individuals working in the plumbing trade remain skilled and competitive.
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Impact
July, 2024
Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust Fund's impact can be seen in the skilled and certified individuals it produces for the plumbing trade. By providing training and certification to aspiring plumbers, this organization not only supports the growth of the plumbing industry but also ensures that current members stay up-to-date with their skills. This results in a more competent workforce that can meet the demands of the industry and contribute to the community's infrastructure needs. Additionally, the Trust Fund's focus on education and training helps to create opportunities for individuals to pursue a career in a well-respected and essential trade.
This information is meant to be a general summary of Plumbers & Steamfitters Local 42 Joint Apprenticeship Trust 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: $828
- Program Service Revenue: $432,179
- Gross Receipts: $467,091
Assets and Liabilities:
- Total Assets: $614,124
- Total Liabilities: $38,239
- Net Assets: $575,885
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$432,179
Organization Details
Founding Year
1974
Phone
(419) 668-7305Principal Officer
Dan Lucas
Main Address
187 WOODLAWN AVENUE, NORWALK, OH, 44857
NTEE Category
Code: B30 - Education
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