Asbestos Workers Local 14 Scholarship Fund
- Assets
- $144.6k
- Revenue
- $294.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 11/2000
- Data as of
- 06/2023
- EIN
- 31-1729117
Organization Overview
Asbestos Workers Local 14 Scholarship Fund is located in Philadelphia, PA. The organization was established in 2000. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asbestos Workers Local 14 Scholarship 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 06/2023, Asbestos Workers Local 14 Scholarship Fund generated $294.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $222.6k during the year ending 06/2023. 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
THE EXEMPT PURPOSE OF ASBESTOS WORKERS LOCAL 14 SCHOLARSHIP FUND IS TO PROVIDE FINANCIAL ASSISITANCE, THROUGH THE AWARDING OF SCHOLARSHIPS, TO MEMBERS AND MEMBERS' DEPENDENT CHILDREN OF ASBESTOS WORKERS LOCAL NO. 14 WHOSE MEMBERS ARE PRIMARILY EMPLOYED IN THE ASBESTOS REMOVAL INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL ASSISTANCE TO MEMBERS OF ASBESTOS WORKERS LOCAL NO. 14 WHO ARE EMPLOYED BY PARTICIPATING EMPLOYERS AND TO THE MEMBERS' DEPENDENT CHILDREN WHO HAVE DEMONSTRATED SCHOLASTIC ABILITY, GOOD CHARACHTER, AND QUALITIES OF LEADERSHIP WHO MIGHT NOT OTHERWISE BE ABLE TO AFFORD A COLLEGE EDUCATION.
TO PROVIDE FUNDING TO FOX CHASE CANCER CENTER FOR MESOTHELIOMA RESEARCH. THIS FORM OF CANCER AFFECTS MANY MEMBERS IN THE BUILDING TRADES, ALTHOUGH ANYONE WHO IS EXPOSED TO ASBESTOS IS AT RISK. SINCE THE UNION'S INVOLVEMENT WITH FOX CHASE, MUCH HAS BEEN ACCOMPLISHED TOWARDS RELIEVING THE PAIN AND EXTENDING THE QUALITY OF LIFE OF THE PATIENT. FOX CHASE CANCER CENTER WAS SELECTED TO DO RECEIVE THIS RESEARCH BECAUSE OF THEIR NATIONAL RECOGNITION AS ONE OF THE HIGHEST RATED COMPREHENSIVE CANCER CENTERS IN THE NATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Pettit Labor Trustee/co-Chair | Trustee | 2 | $0 |
Jerry Mccaffrey Employer Trustee/co-Chair | Trustee | 2 | $0 |
Robert Cellucci Labor Trustee | Trustee | 2 | $0 |
Arthur Sweeney Employer Trustee | Trustee | 2 | $0 |
Ronald Rickert Labor Trustee | Trustee | 2 | $0 |
Michael Formica Employer Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $239,061 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,950 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,011 |
| Total Program Service Revenue | $74,321 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$28,421 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $294,911 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $164,586 |
| Grants and other assistance to domestic individuals. | $48,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $57 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $222,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,907 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,686 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $144,593 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $144,593 |
| 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 | $144,593 |