Overview
What is Iron Workers' Local Union No 25 Training Fund?
Iron Workers' Local Union No 25 Training Fund is a nonprofit organization situated in Troy, Michigan. Established through a collective bargaining agreement, its primary mission is to provide comprehensive apprenticeship training for eligible employees. As of April 30, 2022, the program boasts approximately 300 participants. This fund is dedicated to covering training expenses, as outlined in the Apprenticeship Training Program. The organization, with a total of 8 employees, aims to equip its members with the necessary skills to excel in their respective fields.
Official website here: www.iw25fringe.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
The Iron Workers' Local Union No 25 Training Fund has earned a commendable Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The rating is heavily based on the organization’s financial practices, with an excellent score in areas such as independent board membership and financial oversight, reflecting transparency and robust governance.
The fund showcases strong accountability, scoring full marks in key areas such as material diversion of assets and program expense ratio, with approximately 81.45% of its expenses allocated directly to its programs. This efficiency suggests that the majority of resources are effectively utilized to fulfill the organization’s mission.
However, the organization has noted some limitations, particularly in its lack of a conflict of interest policy and whistleblower policy, which received zero points. This may indicate potential areas for improvement to enhance governance practices further and ensure comprehensive ethical standards are maintained. Overall, the organization demonstrates a commitment to financial health and transparency, although it could benefit from addressing its policy gaps.
This AI summary has been generated from information found on Charity Navigator.
Is Iron Workers' Local Union No 25 Training Fund legitimate?
Iron Workers' Local Union No 25 Training Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iron Workers' Local Union No 25 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: $737,816
For more financial information, click here
Official website here: www.iw25fringe.org/
What is the mission statement of Iron Workers' Local Union No 25 Training Fund?
The Iron Workers' Local Union No 25 Training Fund's primary mission is to provide apprenticeship training to eligible employees. This initiative is aimed at defraying the associated training costs, as stipulated in the Apprenticeship Training Program. Established through a collective bargaining agreement, the fund has been instrumental in offering training opportunities for approximately 300 employees as of April 30, 2022.
Official website here: www.iw25fringe.org/
Who is the CEO of Iron Workers' Local Union No 25 Training Fund?
Michael Randick is the Training Coordinator of Iron Workers' Local Union No 25 Training Fund.
Official website here: www.iw25fringe.org/
What is the revenue of Iron Workers' Local Union No 25 Training Fund?
Iron Workers' Local Union No 25 Training Fund's revenue in 2022 was $4,335,147.
Official website here: www.iw25fringe.org/
Who are the executives of Iron Workers' Local Union No 25 Training Fund and what are their salaries?
The average compensation at Iron Workers' Local Union No 25 Training Fund during 2022 was $92,227. There are 8 employees and 18 volunteers at Iron Workers' Local Union No 25 Training Fund.
Here are 7 key members and their salaries:
- Compensation: $116,533
- Related: $0
- Other: $0
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- 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
Official website here: www.iw25fringe.org/
Where can I find the form 990 for Iron Workers' Local Union No 25 Training Fund?
Iron Workers' Local Union No 25 Training Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.iw25fringe.org/
Learn more at the official website: www.iw25fringe.org/
Mission Statement of Iron Workers' Local Union No 25 Training Fund
Iron Workers' Local Union No 25 Training Fund, established through a collective bargaining agreement, is dedicated to providing apprenticeship training for eligible employees. The mission of this fund is to defray the costs associated with this training, as outlined in the Apprenticeship Training Program. As of April 30, 2022, approximately 300 employees were enrolled in this program, benefiting from the fund's commitment to their professional development. The fund's purpose is to equip these employees with the necessary skills to excel in their respective roles within the ironworking industry.
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Impact
July, 2024
Iron Workers' Local Union No 25 Training Fund's impact is significant in providing apprenticeship training to eligible employees in the ironworking industry. This training fund was established as a result of a collective bargaining agreement to ensure that employees have access to the necessary skills and knowledge required for their profession. With approximately 300 employees enrolled in the program as of April 30, 2022, the fund plays a crucial role in defraying training costs and supporting the professional development of workers in Troy, MI. The training provided by this fund helps individuals enhance their expertise and advance their careers in the ironworking field.
This information is meant to be a general summary of Iron Workers' Local Union No 25 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: $4,209
- Program Service Revenue: $4,113,226
- Gross Receipts: $4,335,147
Assets and Liabilities:
- Total Assets: $7,992,517
- Total Liabilities: $234,752
- Net Assets: $7,757,765
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$3,931,532
TUITION & BOOK REVENUE
Revenue
$107,395
FEES & MISC INCOME
Revenue
$74,299
Organization Details
Founding Year
1967
Phone
(248) 813-9800Principal Officer
Michael Randick
Main Address
700 TOWER DRIVE STE 300, TROY, MI, 48098
Website
www.iw25fringe.org/NTEE Category
Code: B30 - Education
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