LOCAL 470 APPRENTICESHIP FUND (EIN 474852250) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2015

Legal Domicile

Principal Officer

JEFF BRITT

Phone

8036636027

Tax Period

2024-07-01 to 2025-06-30

LOCAL 470 APPRENTICESHIP FUND, founded in 2015, is a small nonprofit in the Employment sector that reported $490K in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $207K, a strong 42% operating margin.

Mission

TO PROVIDE UNION MEMBERS TRAINING AND SAFETY COURSES DESIGNED TO HELP WITH JOB PLACEMENT AND RETENTION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $476,218

Investment Income $12,583

Other Revenue $1,323

TOTAL REVENUE $490,124

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,112

Fundraising Expenses $0

Program Expenses $207,217

Other Expenses $201,653

TOTAL EXPENSES $282,765

Year-over-Year Comparison

	2024	2023	Change
Revenue	$490,124	$346,177	+0.4%
Expenses	$282,765	$237,852	+0.2%
Net Income	$207,359	$108,325	+0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$70,036

Total Directors

$70,036

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HERB FREITAG JR	TRAINING DIRECTOR/TRUSTEE	10.00	Officer Director	$70,036	$0	$70,036
JULIE WILHITE	TREASURER/ADMINISTRATION	10.00	Officer Director	$0	$0	$0
JEFF BRITT	UNION CO-CHAIRMAN	10.00	Director	$0	$0	$0
JOHNNY COLBURN	UNION TRUSTEE	10.00	Director	$0	$0	$0
STEVEN ERGLE	UNION TRUSTEE	10.00	Director	$0	$0	$0
KEITH SHEARER	EMPLOYER TRUSTEE	5.00	Director	$0	$0	$0
KEN CLARK	EMPLOYER TRUSTEE	5.00	Director	$0	$0	$0
MARK ARBAUGH	EMPLOYER CO-CHAIRMAN	5.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$490,124	$282,765	$538,972	$207,359
2024	$346,177	$237,852	$330,292	$108,325
2023	$314,981	$311,575	$218,915	$3,406
2022	$295,072	$311,842	$214,949	$-16,770
2021	$311,511	$280,937	$229,741	$30,574
2020	$273,530	$306,176	$206,420	$-32,646
2019	$264,414	$336,172	$233,761	$-71,758
2018	$268,411	$279,975	$306,752	$-11,564

LOCAL 470 APPRENTICESHIP FUND