H&gl Set Fund FY2021 filing

Tax-deductible

Newark, NJ501(c)(3)Since 1972EIN 22-6171671Revenue $7.9M in FY2021

On file with the IRShglfunds.org700 Raymond Blvd, 07105-2909 · Newark, NJTax-exempt since Jun 1973School — 170(b)(1)(A)(ii)

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To defray the costs appertaining to vocational and advancement training, general and specific education, improving and insuring safety habits and conditions, and to devise and implement such procedures and programs necessary or favorable to fulfill the foregoing objectives.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$926K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $2.2M a year · 27% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$926K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 15.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$259K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.9M
+0.9% vs prior year
Spent
$5.2M
To programs
79%
Net assets
$36.2M
By yearFY2020–FY2025
Revenue
$7.9M
FY2021▲ +0.9%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.8M
FY2021$7.9M
FY2022$7.6M
FY2023$7.7M
FY2024$8.8M
FY2025$10.0M
Expenses
$5.2M
FY2021▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.8M
FY2021$5.2M
FY2022$5.3M
FY2023$6.0M
FY2024$6.9M
FY2025$7.5M
Net assets
$36.2M
FY2021▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$33.6M
FY2021$36.2M
FY2022$37.8M
FY2023$39.7M
FY2024$41.9M
FY2025$44.9M

From the FY2021 Form 990 (year ending March 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1973.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $4.1M Management & general 21% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $926K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Direc
$173,350Pt VII · Sec A
Executive Direc
$165,236Pt VII · Sec A
Instructor
$120,698Pt VII · Sec A
Instructor
$119,933Pt VII · Sec A
$118,546Pt VII · Sec A
Instructor
$116,400Pt VII · Sec A
Maintenance
$111,839Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
George Samuelsen$193,310$178,483$164,365$118,945——
Joseph Scerbo JR$113,019$181,967$178,408$174,590$165,236$167,110
Joseph Demarco JR———$179,759$173,350$170,450
Joseph Scerbo III$157,872—————
John J Bohme$149,663$141,127$130,929———
Michael Grisko$146,685$135,365$130,526$120,064——
William Coffin$145,619—————
Howard Tomlin$145,577—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds vocational training, education, and safety programs to improve lives.

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Provided by the organization

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2 programs · $4.1M · in their own filed words · FY2020
01

The fund provides journeyman training and apprentice training classes for the purpose of vocational and advancement training, general and specific education, and improving safety habits and conditions on behalf of the 7,093 participants as of march 31,2021 and also to participants of another training fund.

$4.0Mprogram expense
02

The plan maintains a scholarship program, awarding four scholarships per year to children of participants for utilization towards tuition fees and other related course expenses. The program provides $5,000 annually for four years to those selected by the scholarship selection COMMITTEE.THE board of trustees agreed on october 26,2015 to…

$84Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $468K · 2019–2024
Unitemized GrantFY2024$77,500
Unitemized GrantFY2023$80,000
Unitemized GrantFY2022$77,500
Unitemized GrantFY2021$80,000
Unitemized GrantFY2020$82,500
Unitemized GrantFY2019$70,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$7.9M
Ln 12
Fees for servicesLn 2g$7.0M
Gifts and grantsLn 1h$617K
Investment incomeLn 3$219K
Money outPt IX
$5.2M
Ln 25
Programscol B$4.1M
Managementcol C$1.1M
Owns and owesPt X
$36.2M
net assets · Ln 32
Cash and savingsLn 1–2$6.7M
Total assetsLn 16$36.5M
LiabilitiesLn 26$259K
PeoplePt VI, VII
19
listed · VII A
PaidVII A7
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$617K
Government grantsLn 1e$617K
Fees for servicesLn 2g$7.0M
Investment incomeLn 3$219K
Other incomeLn 4–11$55K
Gains on assetsLn 7−$32K
Total revenueLn 12$7.9M
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$6.7M
Cash and savings togetherLn 1–2$6.7M
InvestmentsLn 11–13$19.0M
Land, buildings, equipmentLn 10c$9.7M
Other assetsLn 15$272K
Total assetsLn 16$36.5M
LiabilitiesLn 26$259K
Net assetsLn 32$36.2M
OperationsPt I, VI
EmployeesI 521
VolunteersI 610
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$22.6M$6.7M
InvestmentsLn 11–13$19.0M
Land, buildings, equipmentLn 10c$10.2M$9.7M
Total assetsLn 16$33.9M$36.5M
LiabilitiesLn 26$277K$259K
Net assetsLn 32$33.6M$36.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$82K$82K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$526K$526K
Pay of disqualified personsLn 6$339K$339K
Other salaries and wagesLn 7$1.1M$1.1M
Pension plan contributionsLn 8$521K$521K
Other employee benefitsLn 9$272K$272K
Payroll taxesLn 10$133K$133K
Management feesLn 11a$0
Legal feesLn 11b$11K$11K
Accounting feesLn 11c$60K$60K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$31K$31K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$0
Office expensesLn 13$209K$141K$68K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$218K$54K$164K
TravelLn 17$111K$111K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$779$779
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$482K$482K
InsuranceLn 23$77K$77K
Other expenses (24a–d)Ln 24$928K$712K$216K
All other expensesLn 24e$78K$78K
Total functional expensesLn 25$5.2M$4.1M$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.0M$7.5M$2.5M$44.9M 990 PDF
FY2024 $8.8M$6.9M$1.9M$41.9M 990 PDF
FY2023 $7.7M$6.0M$1.7M$39.7M 990 PDF
FY2022 $7.6M$5.3M$2.4M$37.8M 990 PDF
FY2021 Viewing $7.9M$5.2M$2.7M$36.2M 990 PDF
FY2020 $7.8M$5.8M$2.0M$33.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $7,891,700 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $90,598$617,286
I-9 Program service revenuePrior year $7,404,250$7,000,344
I-10 Investment incomePrior year $292,172$219,159
I-11 Other revenuePrior year $30,507$54,911
I-12 Total revenuePrior year $7,817,527$7,891,700
I-13 Grants and similar amounts paidPrior year $70,000$82,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,133,315$2,936,196
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,568,303$2,212,017
I-18 Total expensesPrior year $5,771,618$5,230,713
I-19 Revenue less expensesPrior year $2,045,909$2,660,987
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $7,891,700 across 10 lines filed
VIII-1e Government grants$617,286
VIII-1h Total contributions, gifts and grants$617,286
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,000,344$7,000,344
VIII-3 Investment incomeExcluded from tax $250,809$250,809
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$31,650−$31,650
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $54,911$54,911
VIII-12 Total revenueRelated to mission $7,055,255 · Excluded from tax $219,159$7,891,700
Part IX · Statement of functional expenses $5,230,713 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $82,500$82,500
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $525,691$525,691
IX-6 Pay of disqualified personsPrograms $339,319$339,319
IX-7 Other salaries and wagesPrograms $1,145,144$1,145,144
IX-8 Pension plan contributionsPrograms $521,380$521,380
IX-9 Other employee benefitsPrograms $271,844$271,844
IX-10 Payroll taxesPrograms $132,818$132,818
IX-11a Management fees$0
IX-11b Legal feesManagement $11,147$11,147
IX-11c Accounting feesManagement $60,250$60,250
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $31,152$31,152
IX-11g Other fees for servicesManagement $6,025$6,025
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $140,797 · Management $68,087$208,884
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $54,054 · Management $163,836$217,890
IX-17 TravelPrograms $110,951$110,951
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $779$779
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $482,144$482,144
IX-23 InsuranceManagement $76,935$76,935
IX-24 Other expenses (24a–d)Programs $711,576 · Management $216,292$927,868
IX-24e All other expensesPrograms $77,992$77,992
IX-25 Total functional expensesPrograms $4,114,845 · Management $1,115,868 · Fundraising $0$5,230,713
Part X · Balance sheet $36,476,306 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $1,200$1,200
X-2 Savings and temporary cash investmentsStart of year $22,613,874$6,735,870
X-3 Pledges and grants receivableStart of year $42,497$35,098
X-4 Accounts receivableStart of year $812,039$670,497
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $28,321$23,513
X-10c Land, buildings and equipment, netStart of year $10,168,577$9,705,729
X-11 Publicly traded securities$19,032,569
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $257,731$271,830
X-16 Total assetsStart of year $33,924,239$36,476,306
X-17 Accounts payable and accrued expensesStart of year $277,083$259,071
X-26 Total liabilitiesStart of year $277,083$259,071
X-32 Total net assets or fund balancesStart of year $33,647,156$36,217,235
X-33 Total liabilities and net assetsStart of year $33,924,239$36,476,306
Part XI · Reconciliation of net assets $36,217,235 net assets at year end
XI-1 Total revenue$7,891,700
XI-2 Total expenses$5,230,713
XI-3 Revenue less expenses$2,660,987
XI-4 Net assets at start of year$33,647,156
XI-5 Net unrealized gains (losses) on investments−$90,908
XI-10 Net assets at end of year$36,217,235

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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