Local 817 I B T Scholarship Training Fund

Is Local 817 I B T Scholarship Training Fund Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Local 817 I B T Scholarship Training Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Local 817 I B T Scholarship Training Fund

Local 817 I B T Scholarship Training Fund (EIN: 112602554) is a nonprofit organization based in Great Neck, NY. The organization reported total revenue of $16.7M and total assets of $63.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 817 I B T Scholarship Training 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 Local 817 I B T Scholarship Training Fund with a Mission Score of 95 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: 8%
• programs: 90%
• fundraising: 2%

According to IRS 990 filings, Local 817 I B T Scholarship Training Fund allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is highly unusual for an organization with assets exceeding $63 million and suggests a strong commitment to directing all funds towards its mission.

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 Local 817 I B T Scholarship Training Fund:

• Consistent and significant asset growth, from $15M in 2014 to over $63M currently.
• Zero reported officer compensation across all 13 filings, indicating strong mission focus.
• Revenue consistently exceeds expenses, leading to healthy financial surpluses.
• Low liabilities relative to assets, demonstrating strong financial stability.
• Extensive filing history (13 filings) indicating good transparency and compliance.

Frequently Asked Questions about Local 817 I B T Scholarship Training Fund

Filing History

IRS 990 filing history for Local 817 I B T Scholarship Training Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Local 817 I B T Scholarship Training Fund's revenue has grown by 30.3%, moving from $3.2M to $4.2M. Total assets increased by 476.1% over the same period, from $8.7M to $50.0M. Total functional expenses rose by 79.2%, from $2.0M to $3.5M. In its most recent filing year (2023), Local 817 I B T Scholarship Training Fund reported a surplus of $653K, with revenue exceeding expenses. The organization holds $89K in liabilities against $50.0M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $49.9M.

Year-by-Year Financial Summary

• 2023: Revenue of $4.2M, expenses of $3.5M, and assets of $50.0M (revenue -53.7% year-over-year).
• 2022: Revenue of $9.0M, expenses of $3.3M, and assets of $44.0M (revenue +4.1% year-over-year).
• 2021: Revenue of $8.6M, expenses of $3.0M, and assets of $44.1M (revenue +141.5% year-over-year).
• 2020: Revenue of $3.6M, expenses of $3.0M, and assets of $35.5M (revenue -53.6% year-over-year).
• 2019: Revenue of $7.7M, expenses of $2.8M, and assets of $32.4M (revenue +24.3% year-over-year).
• 2018: Revenue of $6.2M, expenses of $2.7M, and assets of $25.3M (revenue +24.7% year-over-year).
• 2017: Revenue of $5.0M, expenses of $2.4M, and assets of $23.0M (revenue -5.5% year-over-year).
• 2016: Revenue of $5.3M, expenses of $2.4M, and assets of $19.3M (revenue -5.6% year-over-year).
• 2015: Revenue of $5.6M, expenses of $2.2M, and assets of $17.1M (revenue +32.5% year-over-year).
• 2014: Revenue of $4.2M, expenses of $2.2M, and assets of $15.0M (revenue +18.1% year-over-year).
• 2013: Revenue of $3.6M, expenses of $2.0M, and assets of $12.6M (revenue +7.4% year-over-year).
• 2012: Revenue of $3.3M, expenses of $2.9M, and assets of $10.4M (revenue +3.8% year-over-year).
• 2011: Revenue of $3.2M, expenses of $2.0M, and assets of $8.7M.

Data Sources and Methodology

This transparency report for Local 817 I B T Scholarship Training 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.