Is Laborers Local 1298 Joint Apprenticeship & Training Tr Fund Legit?
Quick charity verification for Laborers Local 1298 Joint Apprenticeship & Training Tr Fund (EIN: 116472322)
Verdict: Laborers Local 1298 Joint Apprenticeship & Training Tr Fund appears trustworthy
92/100Mission Score
$1.7MRevenue
$3.9MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent zero officer compensation across all filings, indicating high resource allocation to mission.
Strong financial stability with assets significantly exceeding liabilities (e.g., $3,991,097 assets vs. $6,473 liabilities in 2023).
Stable and growing revenue and expense trends over the past decade, showing consistent operational capacity.
Excellent transparency with 13 consistent IRS 990 filings.
Low liabilities relative to assets, indicating minimal financial risk.
Spending Breakdown
How Laborers Local 1298 Joint Apprenticeship & Training Tr Fund allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Laborers Local 1298 Joint Apprenticeship & Training Tr Fund
Is Laborers Local 1298 Joint Apprenticeship & Training Tr Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Laborers Local 1298 Joint Apprenticeship & Training Tr Fund (EIN: 116472322) appears trustworthy. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
Is Laborers Local 1298 Joint Apprenticeship & Training Tr Fund a good charity to donate to?
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund has a Mission Score of 92/100. Revenue: $1.7M. Assets: $3.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Laborers Local 1298 Joint Apprenticeship & Training Tr Fund?
The Employer Identification Number (EIN) for Laborers Local 1298 Joint Apprenticeship & Training Tr Fund is 116472322. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Laborers Local 1298 Joint Apprenticeship & Training Tr Fund spend its money?
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Laborers Local 1298 Joint Apprenticeship & Training Tr Fund's tax-exempt status?
You can verify Laborers Local 1298 Joint Apprenticeship & Training Tr Fund's tax-exempt status using EIN 116472322 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund demonstrates consistent financial operations, with revenues and expenses generally in close alignment over the past decade. For instance, in 2023, revenue was $1,648,206 against expenses of $1,748,492, indicating a slight deficit. The organization maintains a healthy asset base, reported at $3,991,097 in 2023, significantly exceeding its liabilities of $6,473, which suggests strong financial stability and a good reserve for its operations. The consistent reporting of zero officer compensation across all available filings is a notable aspect of its financial transparency and operational model, indicating that executive leadership is not drawing salaries from the organization's funds.
The organization's spending efficiency appears to be focused on its core mission, given the nature of an apprenticeship and training fund. While specific program spending breakdowns are not provided in the summary data, the absence of officer compensation suggests that a larger proportion of funds is likely directed towards training programs and operational costs directly supporting its beneficiaries. The relatively stable revenue and expense figures over time, with minor fluctuations, point to predictable financial management. The organization's consistent filing history further enhances its transparency, providing a clear long-term view of its financial activities.
Overall, Laborers Local 1298 Joint Apprenticeship & Training Tr Fund appears to be a financially stable and transparent organization, effectively managing its resources to support its apprenticeship and training objectives. Its strong asset-to-liability ratio and consistent financial reporting without executive compensation are positive indicators of its commitment to its mission and responsible stewardship of funds.