AI Transparency Report
Local 15 15 A 15 D Operating Engineer Apprenticeship Skill Improvement demonstrates a consistent operational pattern, with expenses frequently exceeding revenue in recent years. For instance, in 2023, expenses were $6,199,166 against revenues of $5,329,677, and in 2022, expenses were $5,510,808 against revenues of $5,054,560. This trend suggests the organization may be drawing down on its assets or relying on prior surpluses to cover operational costs. Despite these deficits, the organization has maintained a healthy asset base, with assets at $4,193,042 in 2023, significantly higher than its liabilities of $385,853, indicating financial stability. The absence of reported officer compensation across all available filings suggests a strong commitment to directing funds towards its mission, or that compensation is structured in a way not captured under 'officer compensation' on the 990, which warrants further investigation for complete transparency.
The organization's financial health appears stable due to its asset reserves, but the recurring operational deficits are a point to monitor. While the specific breakdown of program, administrative, and fundraising expenses is not directly provided in the summary data, the lack of officer compensation is a positive indicator of efficient resource allocation. To fully assess spending efficiency, a deeper dive into the functional expense breakdown would be necessary. The consistent filing of IRS 990 forms over 13 periods demonstrates a commitment to regulatory compliance and basic financial transparency.