Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund
- Assets
- $4.3m
- Revenue
- $3.8m
- Investments
- $903.7k
- Employees
- 32
- Location
- Philadelphia, PA
- Founding
- 04/1973
- Data as of
- 04/2023
- EIN
- 23-6209472
Organization Overview
Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund is located in Philadelphia, PA. The organization was established in 1973. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 04/2023, Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2023, Steamfitters Lu 420 Apprenticeship & Journeyman Training Fund generated $3.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.2m during the year ending 04/2023. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
APPRENTICESHIP & JOURNEYMEN EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPRENTICESHIP TRAINING AND EDUCATION FOR APPRENTICES AND JOURNEYMEN IN STEAMFITTERS' LOCAL UNION NO. 420. THERE ARE APPROXIMATELY 400 DAY AND EVENING STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Snell Trustee | Trustee | 1 | $0 |
Gary Andress Trustee | Trustee | 1 | $0 |
Pat Sheridan Trustee | Trustee | 1 | $0 |
Len Ditullio Trustee | Trustee | 1 | $0 |
Jim Dougherty Trustee | Trustee | 1 | $0 |
Thomas F Redden III Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steamfitters Local Union 420 Building Fu Rent | 4/29/15 | $302,347 |
West Penn Associates Leasehold Improvements | 4/29/15 | $116,755 |
Herman Goldner Co Inc Leasehold Improvements | 4/29/15 | $170,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,000 |
| Total Program Service Revenue | $3,744,915 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,048 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,779,582 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,885,153 |
| Compensation of current officers, directors, key employees. | $377,031 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $637,193 |
| Pension plan accruals and contributions | $140,463 |
| Other employee benefits | $101,887 |
| Payroll taxes | $140,012 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,281 |
| Fees for services: Accounting | $23,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $480 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $174,957 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $468,466 |
| Travel | $24,195 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,520 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,625 |
| Insurance | $28,818 |
| All other expenses | $0 |
| Total functional expenses | $4,243,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $482,274 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,866,892 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $903,727 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,020,122 |
| Total assets | $4,273,215 |
| Accounts payable and accrued expenses | $1,018,865 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,222 |
| Total liabilities | $1,023,087 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,250,128 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,273,215 |