Laborers Local 1298 Joint Apprenticeship & Training Tr Fund
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund consistently operates with stable finances and no officer compensation.
EIN: 116472322 · Hempstead, NY · NTEE: B300 · Updated: 2026-03-28
Is Laborers Local 1298 Joint Apprenticeship & Training Tr Fund Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Laborers Local 1298 Joint Apprenticeship & Training Tr Fund
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund (EIN: 116472322) is a nonprofit organization based in Hempstead, NY, classified under NTEE code B300. The organization reported total revenue of $1.7M and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Laborers Local 1298 Joint Apprenticeship & Training Tr Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Laborers Local 1298 Joint Apprenticeship & Training Tr Fund with a Mission Score of 92 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, Laborers Local 1298 Joint Apprenticeship & Training Tr 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 officers do not receive salaries from the organization, which is a strong positive for resource allocation to programs.
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.
Strengths
The following positive indicators were identified for Laborers Local 1298 Joint Apprenticeship & Training Tr Fund:
- 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.
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 legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Laborers Local 1298 Joint Apprenticeship & Training Tr Fund spend its money?
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Laborers Local 1298 Joint Apprenticeship & Training Tr Fund tax-deductible?
Laborers Local 1298 Joint Apprenticeship & Training Tr Fund is registered as a tax-exempt nonprofit (EIN: 116472322). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Laborers Local 1298 Joint Apprenticeship & Training Tr Fund a good charity?
Based on the provided financial data, the organization appears to be a well-managed and financially stable entity. Its consistent reporting of zero officer compensation, healthy asset base ($3,991,097 in 2023), and low liabilities ($6,473 in 2023) are strong indicators of responsible financial stewardship and a focus on its mission.
How does the organization's asset base compare to its liabilities?
The organization maintains a very strong asset-to-liability ratio. In 2023, assets were $3,991,097 while liabilities were only $6,473, indicating excellent financial health and minimal debt.
What is the trend in the organization's revenue and expenses?
Revenue and expenses have shown a consistent upward trend over the past decade, from $1,123,675 revenue and $1,115,376 expenses in 2014 to $1,648,206 revenue and $1,748,492 expenses in 2023, indicating steady growth in operations.
Does the organization spend efficiently?
The consistent reporting of 0% officer compensation strongly suggests high spending efficiency, as funds are not diverted to executive salaries and are presumably directed towards program delivery and essential administrative functions.
Filing History
IRS 990 filing history for Laborers Local 1298 Joint Apprenticeship & Training Tr Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Laborers Local 1298 Joint Apprenticeship & Training Tr Fund's revenue has grown by 46.4%, moving from $1.1M to $1.6M. Total assets increased by 7% over the same period, from $3.7M to $4.0M. Total functional expenses rose by 65.8%, from $1.1M to $1.7M. In its most recent filing year (2023), Laborers Local 1298 Joint Apprenticeship & Training Tr Fund reported a deficit of $100K, with expenses exceeding revenue. The organization holds $6K in liabilities against $4.0M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $4.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.7M | $4.0M | $6K | — | — |
| 2022 | $1.6M | $1.7M | $4.1M | $7K | — | View 990 |
| 2021 | $1.5M | $1.6M | $4.2M | $9K | — | View 990 |
| 2020 | $1.6M | $1.6M | $4.3M | $7K | — | — |
| 2019 | $1.5M | $1.5M | $4.3M | $10K | — | View 990 |
| 2018 | $1.4M | $1.3M | $4.4M | $63K | — | View 990 |
| 2017 | $1.3M | $1.2M | $4.2M | $4K | — | View 990 |
| 2016 | $1.3M | $1.2M | $4.1M | $6K | — | View 990 |
| 2015 | $1.2M | $1.1M | $4.0M | $10K | — | View 990 |
| 2014 | $1.1M | $1.1M | $4.0M | $12K | — | View 990 |
| 2013 | $1.1M | $1.1M | $4.0M | $16K | — | View 990 |
| 2012 | $1.2M | $1.0M | $3.9M | $6K | — | View 990 |
| 2011 | $1.1M | $1.1M | $3.7M | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.7M, and assets of $4.0M (revenue +4.8% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.7M, and assets of $4.1M (revenue +2.5% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.6M, and assets of $4.2M (revenue -2.1% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.6M, and assets of $4.3M (revenue +6.2% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.5M, and assets of $4.3M (revenue +6.1% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.3M, and assets of $4.4M (revenue +8.0% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $4.2M (revenue -1.8% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $4.1M (revenue +8.3% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.1M, and assets of $4.0M (revenue +7.7% year-over-year).
- 2014: Revenue of $1.1M, expenses of $1.1M, and assets of $4.0M (revenue +0.1% year-over-year).
- 2013: Revenue of $1.1M, expenses of $1.1M, and assets of $4.0M (revenue -5.4% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.0M, and assets of $3.9M (revenue +5.3% year-over-year).
- 2011: Revenue of $1.1M, expenses of $1.1M, and assets of $3.7M.
Data Sources and Methodology
This transparency report for Laborers Local 1298 Joint Apprenticeship & Training Tr 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.