Ibew Local 1049 Craft Division Skill Improvement Fund

Ibew Local 1049 Craft Division Skill Improvement Fund shows consistent asset growth and zero reported officer compensation over a decade.

EIN: 113078707 · Holtsville, NY · NTEE: B30 · Updated: 2026-03-28

$7.2MRevenue

$16.9MAssets

85/100Mission Score (Excellent)

B30

About Ibew Local 1049 Craft Division Skill Improvement Fund

Ibew Local 1049 Craft Division Skill Improvement Fund (EIN: 113078707) is a nonprofit organization based in Holtsville, NY, classified under NTEE code B30. The organization reported total revenue of $7.2M and total assets of $16.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ibew Local 1049 Craft Division Skill Improvement Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Ibew Local 1049 Craft Division Skill Improvement Fund demonstrates a consistent commitment to its mission, as evidenced by its NTEE code B30 (Labor Unions and Auxiliaries) and its financial activities. The organization's assets have shown significant growth over the past decade, from $7.4 million in 2012 to nearly $16 million in 2023, indicating sound financial management and accumulation of resources. While revenue has fluctuated, expenses have generally been well-managed, often staying below revenue, contributing to asset growth. For instance, in 2021, revenue was $3,796,276 against expenses of $2,659,210, leading to a surplus.

The organization's spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings. This suggests that a very high proportion of funds are directed towards program services rather than executive salaries. The fund's primary purpose, skill improvement, inherently implies direct program spending. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories in the provided data, a precise efficiency ratio cannot be calculated. The consistent growth in assets and relatively low liabilities (e.g., $219,994 in 2023 against $15,990,107 in assets) point to financial stability.

Transparency is generally good, with 11 years of IRS 990 filings available. The consistent reporting of zero officer compensation is a positive indicator of financial stewardship and transparency regarding executive pay. However, the absence of a detailed functional expense breakdown (program, admin, fundraising) in the provided summary limits a deeper analysis of spending allocation efficiency. Further scrutiny of the full 990 forms would be necessary to fully assess the allocation of expenses.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Ibew Local 1049 Craft Division Skill Improvement Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Ibew Local 1049 Craft Division Skill Improvement Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of this size with assets nearing $16 million.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Ibew Local 1049 Craft Division Skill Improvement Fund's IRS 990 filings:

Lack of detailed functional expense breakdown in provided data, making precise efficiency analysis difficult.
Consistent reporting of 0% officer compensation for an organization with significant assets and operations, which, while positive for direct program spending, warrants further inquiry into how leadership is compensated or structured.

Strengths

The following positive indicators were identified for Ibew Local 1049 Craft Division Skill Improvement Fund:

Consistent asset growth over a decade, from $7.4 million in 2012 to $15.9 million in 2023, indicating strong financial management.
Zero reported officer compensation across all filings, suggesting a very high proportion of funds are directed towards the mission.
Low liabilities relative to assets, indicating financial stability (e.g., $219,994 liabilities vs. $15,990,107 assets in 2023).
Long history of IRS 990 filings (11 filings), demonstrating transparency and compliance.
Generally well-managed expenses, often staying below revenue, contributing to asset accumulation.

Frequently Asked Questions about Ibew Local 1049 Craft Division Skill Improvement Fund

How does the organization manage to operate with 0% officer compensation?

The consistent reporting of 0% officer compensation across all filings suggests that leadership roles might be voluntary, compensated through other means not classified as officer compensation, or that the fund's operational structure relies heavily on external or union-provided administrative support.

What are the specific 'skill improvement' programs funded by this organization?

The provided data does not detail the specific skill improvement programs. Further investigation into the full IRS 990 forms or the organization's website would be necessary to understand the nature and scope of these programs.

What is the primary source of the organization's revenue?

The NTEE code B30 (Labor Unions and Auxiliaries) suggests that revenue likely comes from union dues, contributions from members, or potentially grants related to workforce development. The provided data does not specify revenue sources.

Why did expenses exceed revenue in 2022 and 2023?

In 2022, expenses ($2,440,045) exceeded revenue ($1,941,838), and similarly in 2023, expenses ($2,434,131) exceeded revenue ($2,229,327). This could be due to strategic spending from accumulated reserves, increased program costs, or temporary dips in funding. Despite this, assets remained robust.

Filing History

IRS 990 filing history for Ibew Local 1049 Craft Division Skill Improvement Fund showing financial trends over 11 years of public records:

Over 11 years of IRS 990 filings (2011–2023), Ibew Local 1049 Craft Division Skill Improvement Fund's revenue has grown by 28%, moving from $1.7M to $2.2M. Total assets increased by 195% over the same period, from $5.4M to $16.0M. Total functional expenses rose by 257%, from $682K to $2.4M. In its most recent filing year (2023), Ibew Local 1049 Craft Division Skill Improvement Fund reported a deficit of $205K, with expenses exceeding revenue. The organization holds $220K in liabilities against $16.0M in assets (debt-to-asset ratio: 1.4%), resulting in net assets of $15.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.2M	$2.4M	$16.0M	$220K	—	—
2022	$1.9M	$2.4M	$15.0M	$181K	—	View 990
2021	$3.8M	$2.7M	$17.4M	$349K	—	View 990
2020	$4.4M	$2.3M	$16.1M	$215K	—	View 990
2019	$3.1M	$2.1M	$13.5M	$151K	—	View 990
2018	$3.2M	$2.1M	$11.7M	$147K	—	View 990
2017	$3.1M	$1.7M	$11.3M	$131K	—	View 990
2016	$2.1M	$1.3M	$9.6M	$126K	—	View 990
2015	$1.2M	$939K	$8.4M	$72K	—	View 990
2012	$2.5M	$673K	$7.4M	$36K	—	View 990
2011	$1.7M	$682K	$5.4M	$38K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.2M, expenses of $2.4M, and assets of $16.0M (revenue +14.8% year-over-year).
2022: Revenue of $1.9M, expenses of $2.4M, and assets of $15.0M (revenue -48.8% year-over-year).
2021: Revenue of $3.8M, expenses of $2.7M, and assets of $17.4M (revenue -14.4% year-over-year).
2020: Revenue of $4.4M, expenses of $2.3M, and assets of $16.1M (revenue +44.6% year-over-year).
2019: Revenue of $3.1M, expenses of $2.1M, and assets of $13.5M (revenue -5.4% year-over-year).
2018: Revenue of $3.2M, expenses of $2.1M, and assets of $11.7M (revenue +5.9% year-over-year).
2017: Revenue of $3.1M, expenses of $1.7M, and assets of $11.3M (revenue +47.4% year-over-year).
2016: Revenue of $2.1M, expenses of $1.3M, and assets of $9.6M (revenue +68.3% year-over-year).
2015: Revenue of $1.2M, expenses of $939K, and assets of $8.4M (revenue -50.5% year-over-year).
2012: Revenue of $2.5M, expenses of $673K, and assets of $7.4M (revenue +43.2% year-over-year).
2011: Revenue of $1.7M, expenses of $682K, and assets of $5.4M.

Data Sources and Methodology

This transparency report for Ibew Local 1049 Craft Division Skill Improvement Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.