Local 817 I B T Scholarship Training Fund

Organization Overview

Local 817 I B T Scholarship Training Fund is located in Great Neck, NY. The organization was established in 1980. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Local 817 I B T Scholarship Training Fund employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 817 I B T Scholarship Training Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2021, Local 817 I B T Scholarship Training Fund generated $8.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE SCHOLARSHIP BENEFITS TO ELIGIBLE DEPENDENTS AND MEMBERS OF INTERNATIONAL BROTHERHOOD OF TEAMSTERS LOCAL 817.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SCHOLARSHIP FUND PROVIDES SCHOLARSHIP BENEFITS TO ELIGIBLE MEMBERS AND THEIR DEPENDENTS. THERE WERE 910 PARTICIPANTS AT DECEMBER 31, 2021. TOTAL SCHOLARSHIP PAYMENTS FOR 2021 WERE $2,648,601.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
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$0
Total Program Service Revenue$6,811,672
Investment income $261,697
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,413,574
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,627,430

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