Iron Workers Local Union 401 Apprentice Training Fund

Not tax-deductible

Philadelphia, PA501(c)(5)Since 1984EIN 23-7653299

Training of individual members.

$173K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(5)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
No
Donations are not tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
1 of 5
years in the black
Pt I · Ln 19 · 5 filings
What are leaders paid?
$173K
to officers and key staff · 13% of spending
Pt VII · Sec A
Do they have reserves?
1 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$442
liabilities
Pt X · Ln 26
Who oversees it?
3
independent of 6 voting board members
Pt VI · Ln 1a–1b
Revenue
$1.5M
+16% vs prior year
Spent
$1.3M
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$1.5M
FY2024▲ +16%
Revenue by fiscal year
FY2020$938K
FY2021$807K
FY2022$541K
FY2023$841K
FY2024$1.3M
FY2024$1.5M
Expenses
$1.3M
FY2024▲ +25%
Expenses by fiscal year
FY2020$1.1M
FY2021$943K
FY2022$925K
FY2023$894K
FY2024$1.0M
FY2024$1.3M
Net assets
$2.1M
FY2024▲ +8%
Net assets by fiscal year
FY2020$2.4M
FY2021$2.2M
FY2022$1.8M
FY2023$1.8M
FY2024$2.0M
FY2024$2.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CIron Workers Local Union 401 Apprentice Training Fund
EINHdr · item D23-7653299
Exempt statusHdr · item I501(c)(5) · active
Ruling yearIRS BMFJul 1984
Year of formationHdr · item L1984
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CPhiladelphia, PA
NTEE classificationIRS BMFNonprofit

Financial health

Is it on solid ground?

Surplus margin
+11%
revenue over expenses, this year▼ -37% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$2.1M
FY2024▲ +8%
Total assets by fiscal year
FY2020$2.5M
FY2021$2.2M
FY2022$1.8M
FY2023$1.8M
FY2024$2.0M
FY2024$2.1M
Total liabilities
$442
FY2024
Total liabilities by fiscal year
FY2020$167K
FY2021$3K
FY2022$0
FY2023$0
FY2024$0
FY2024$442
Revenue less expensesPt I · Ln 19$160K
Total assetsPt X · Ln 16$2.1M
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$154K
Total assetsLn 16$2.1M
Total liabilitiesLn 26$442
Total net assetsLn 32$2.1M
Months of cash on handcomputed1.4

Statement of Revenue

Part VIII
Program service revenue$1.1M · 72%
Contributions & grants$307K · 21%
Investment income$96K · 7%
Program service revenue72%$1.1M
Contributions & grants21%$307K
Investment income7%$96K
Other revenue$2K
Total revenueLn 12$1.5M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.7M · Operating expenses/yr $1.3M
15.6 months
Where the money goes
Program services
Program services $0 · Total expenses $1.3M
not reported
Management & General
Management & general $0 · Total expenses $1.3M
not reported
Fundraising
Fundraising $0 · Total expenses $1.3M
not reported
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $133K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $307K · Total revenue $1.5M
21%
Government reliance
Government grants — · Total revenue $1.5M
—
Earned-income share
Program service revenue $1.1M · Total revenue $1.5M
72%
Investment reliance
Investment income $96K · Total revenue $1.5M
+7%
Program self-sufficiency
Program service revenue $1.1M · Total expenses $1.3M
81%
Growth & trend
Revenue growth (YoY)
This year $1.5M · Prior year $1.3M
+16%
Revenue CAGR
FY2019 $938K · FY2024 $1.5M
+9%
Net-asset trend (YoY)
End of year $2.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5M · Expenses $1.3M
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $2.1M
—
Net-asset ratio
Net assets $2.1M · Total assets $2.1M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M
72%
People & payroll
Highest Reported Total Compensation
Individual Michael McGrogan · Reported title Coordinator · Highest reported compensation $173K · Total expenses $1.3M
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $671K · Total expenses $1.3M
52%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 16%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Coordinator
$172,536Pt VII · Sec A
Employer Trustee
$0Pt VII · Sec A
Union Trustee
$0Pt VII · Sec A
Employer Trustee
$0Pt VII · Sec A
Union Trustee
$0Pt VII · Sec A
Past Union Trustee
$0Pt VII · Sec A
Past Employer Trustee
$0Pt VII · Sec A
Union Trustee
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Frank Marsh—————$205,873
Michael McGrogan$172,536$162,786$130,116———
Mike Casey———$151,405$156,302$113,102
Patrick Walsh—$1,050$5,959———

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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Governance & Policies

Part VI
  • 6Voting board membersPt VI · Ln 1a
  • 3Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Trains individuals to improve their skills and knowledge.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Iron Workers Local 401 Apprentice Training Fund provides for the training of individuals working in job classifications covered by collective bargaining agreements.

Pt IX · col B

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Funders

Who pays for it.

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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $1.3M$1.0M+50% 990 PDF
FY2023 $841K$894K+55% 990 PDF
FY2022 $541K$925K-33% 990 PDF
FY2021 $807K$943K-14% 990 PDF
FY2020 $938K$1.1M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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