AI Transparency Report
Plumbers & Steamfitters Local Union 22 Apprenticeship Training Trust demonstrates consistent financial health, with revenues generally exceeding expenses over the past decade. For the latest reported period (202405), the organization reported revenues of $1,845,132 against expenses of $1,728,927, indicating a surplus. The organization's assets have shown significant growth, nearly doubling from $2,379,959 in 201905 to $4,529,034 in 202405, suggesting effective asset management and accumulation. Liabilities have fluctuated, with a notable increase in 202305 and 202405 compared to earlier periods, which warrants closer examination but does not appear to pose an immediate threat given the asset base.
Spending efficiency appears strong, particularly given the nature of an apprenticeship training trust. The absence of reported officer compensation across all filings indicates that resources are likely directed towards program services rather than executive salaries. This aligns with a mission-focused approach. The organization's consistent filing history over 13 periods also points to a commitment to transparency and regulatory compliance.
Overall, the organization exhibits sound financial management, a clear dedication to its program, and good transparency through its regular IRS 990 filings. The growth in assets and consistent operational surpluses contribute to a positive financial outlook, supporting its long-term mission of apprenticeship training.