Sheet Metal Workers Local 63-Educational Fund
- Assets
- $1.6m
- Revenue
- $763.2k
- Investments
- $0.0
- Employees
- 19
- Location
- Springfield, MA
- Founding
- 02/1974
- Data as of
- 09/2022
- EIN
- 23-7267027
Organization Overview
Sheet Metal Workers Local 63-Educational Fund is located in Springfield, MA. The organization was established in 1974. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 09/2022, Sheet Metal Workers Local 63-Educational Fund employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheet Metal Workers Local 63-Educational 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 09/2022, Sheet Metal Workers Local 63-Educational Fund generated $763.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $678.3k during the year ending 09/2022. While expenses have increased by 11.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL BENEFITS FOR ALL APPRENTICES AND MEMBERS BY ACQUIRING THE NECESSARY PREMISES, FACILITIES, BOOKS, PAMPHLETS, SUPPLIES, ALONG WITH THE NECESSARY EQUIPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE TRAINING PROGRAMS FOR SHEET METAL APPRENTICES AND OTHER UNION AND NON-UNION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Pescetta Trustee | Trustee | 2 | $1,060 |
Dave Powell Trustee | Trustee | 1 | $0 |
Michael Lafleur Trustee | Trustee | 1 | $0 |
Jeff Roy Trustee | Trustee | 1.75 | $0 |
Brian Kendall Trustee | Trustee | 1 | $0 |
Edward O'keefe Trustee | Trustee | 1 | $0 |
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 | $741,760 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $741,760 |
| Total Program Service Revenue | $0 |
| Investment income | $24 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,260 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $763,206 |
| 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. | $1,060 |
| Compensation of current officers, directors, key employees. | $1,060 |
| Compensation to disqualified persons | $286,401 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $150,837 |
| Payroll taxes | $26,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,254 |
| Office expenses | $17,169 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,295 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,437 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,098 |
| Insurance | $16,777 |
| All other expenses | $0 |
| Total functional expenses | $678,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $817,563 |
| Savings and temporary cash investments | $122,196 |
| 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 | $16,798 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,919 |
| Net Land, buildings, and equipment | $576,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175 |
| Total assets | $1,598,456 |
| Accounts payable and accrued expenses | $39,623 |
| 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 | $0 |
| Total liabilities | $39,623 |
| Net assets without donor restrictions | $1,558,833 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| 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 | $1,598,456 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sheet Metal Workers Local 63-Educational Fund has recieved totaling $10,273.
| Awarding Organization | Amount |
|---|---|
Masshire Hampden County Workforce Board Inc Springfield, MA PURPOSE: EDUCATION & TRAINING | $10,273 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cw Resources Inc New Britain, CT | $72,075,898 | $102,860,890 |
North Atlantic States Carpenters Training Fund Millbury, MA | $72,466,434 | $22,130,164 |
Building Service Thomas Shortman Training Scholarship And New York, NY | $24,265,152 | $18,661,986 |
New York District Council Crpntrs Apprntcshp Jrnymn Retraing Educa New York, NY | $32,423,989 | $13,554,381 |
Groundtruth Project Inc Boston, MA | $12,977,835 | $12,726,930 |
Skills For Rhode Islands Future Providence, RI | $3,601,484 | $11,174,331 |
Hawthorne Valley Association Inc Ghent, NY | $11,965,949 | $10,914,219 |
Liuna Training And Education Fund Pomfret Center, CT | $19,387,955 | $9,381,853 |
Joint Apprenticeship And Training Trust Fund Local 103 Ibew Boston, MA | $13,179,581 | $8,861,151 |
National Automatic Sprinkler Industry Apprentice And Training New Milford, CT | $8,318,559 | $7,669,959 |
Opportunities For A Better Tomorrow Inc Brooklyn, NY | $2,168,451 | $7,819,105 |
Daybreak Independent Service Inc Yonkers, NY | $5,959,924 | $7,495,936 |