Iupat Finishing Trades Institute
- Assets
- $16.0m
- Revenue
- $8.2m
- Investments
- $1.9m
- Employees
- 16
- Location
- Hanover, MD
- Founding
- 07/1996
- Data as of
- 06/2022
- EIN
- 52-1923143
Organization Overview
Iupat Finishing Trades Institute is located in Hanover, MD. The organization was established in 1996. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 06/2022, Iupat Finishing Trades Institute employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iupat Finishing Trades Institute 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 06/2022, Iupat Finishing Trades Institute generated $8.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $8.7m during the year ending 06/2022. 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
THE PURPOSE OF THE FTI IS TO ESTABLISH AND MAINTAIN JOINT APPRENTICESHIP AND VOCATIONAL TRAINING, EDUCATION AND RETRAINING PROGRAMS AND TO ENSURE THAT ALL TRAINING AND APPRENTICESHIP PROGRAMS THROUGHOUT THE UNITED STATES AND CANADA ARE MAINTAINED AT THE HIGHEST LEVEL OF QUALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED, PROMOTED AND CONDUCTED TRAINING AND EDUCATION COURSES, CONFERENCES, SEMINARS, CONTESTS AND AWARDS FOR WORKERS TO LEARN THE TRADES REPRESENTED BY THE INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES, AFL-CIO AND TO ENHANCE THE JOB SKILLS OF EXPERIENCED UNION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Rigmaiden Co-Chairman (p) | Trustee | 1 | $0 |
William Candelori Trustee (p) | Trustee | 1 | $0 |
Robert Kucheran Trustee | Trustee | 1 | $0 |
Peter Cafiero Co-Chairman | Trustee | 1 | $0 |
David W Johnson Trustee | Trustee | 1 | $0 |
Thomas Corbett Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Iupat Building Corp Rental Services | 6/29/22 | $1,190,736 |
Sspc Continuing Education Services | 6/29/22 | $445,088 |
Agmcc Continuing Education Services | 6/29/22 | $444,165 |
K-learning Group Online Training Services | 6/29/22 | $399,030 |
Iupat General Fund Administrative | 6/29/22 | $360,652 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $211,235 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $211,235 |
| Total Program Service Revenue | $7,703,596 |
| Investment income | $107,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $37,360 |
| Net Gain/Loss on Asset Sales | $15,246 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,227,781 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,663,455 |
| Pension plan accruals and contributions | $471,440 |
| Other employee benefits | $402,930 |
| Payroll taxes | $122,140 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,135 |
| Fees for services: Accounting | $248,247 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,096 |
| Fees for services: Other | $63,247 |
| Advertising and promotion | $5,710 |
| Office expenses | $108,070 |
| Information technology | $121,082 |
| Royalties | $0 |
| Occupancy | $1,048,250 |
| Travel | $230,815 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,654 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $588 |
| Insurance | $94,995 |
| All other expenses | $13,548 |
| Total functional expenses | $8,695,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,599,813 |
| Savings and temporary cash investments | $3,800,103 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,926,356 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,196 |
| Prepaid expenses and deferred charges | $135,421 |
| Net Land, buildings, and equipment | $115,840 |
| Investments—publicly traded securities | $5,325,672 |
| Investments—other securities | $1,932,990 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $120,967 |
| Total assets | $15,978,358 |
| Accounts payable and accrued expenses | $712,729 |
| 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 | $278,516 |
| Total liabilities | $991,245 |
| Net assets without donor restrictions | $14,987,113 |
| 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 | $15,978,358 |
Grants Awarded
Over the last fiscal year, Iupat Finishing Trades Institute has awarded $332,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FINISHING TRADES INSTITUTE OF SOUTHERN NEW ENGLAND PURPOSE: GRANT FINANCIAL SUPPORT | $78,667 |
FINISHING TRADES INSTITUTE OF WESTERN PA PURPOSE: GRANT FINANCIAL SUPPORT | $133,333 |
FINISHING TRADES INSTITUTE OF DISTRICT COUNCIL 88 PURPOSE: GRANT FINANCIAL SUPPORT | $120,000 |