Civic Intelligence

North Atlantic States Carpenters Training Fund

990 • Fiscal year 2016 • EIN 04-2675425

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 15, 2017

13 Holman RoadMillbury, MA 01527

(508) 792-5443

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

49th percentile

0.26x

Higher debt load relative to assets than 49% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

76th percentile

1.03x

Higher debt load relative to revenue than 76% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

70th percentile

9.2%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

40th percentile

$212,055

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

70th percentile

7.8%

Faster asset growth than 70% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

72nd percentile

11%

Faster revenue growth than 72% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$46,473,211

Up $3,348,951 (+7.8%) from 2015

Net Assets

Up

$34,267,840

Up $3,427,722 (+11%) from 2015

Liabilities

Down

$12,205,371

Down $78,771 (-0.6%) from 2015

Revenue

Up

$11,882,536

Up $1,178,625 (+11%) from 2015

Expenses

Up

$10,788,560

Up $1,872,136 (+21%) from 2015

Net Income

Down

$1,093,976

Down $693,511 (-39%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $17,463,956Liabilities 2010: $7,959,161Net Assets 2010: $9,504,7952010Assets 2011: $21,071,989Liabilities 2011: $7,619,692Net Assets 2011: $13,452,2972011Assets 2012: $36,392,330Liabilities 2012: $13,298,925Net Assets 2012: $23,093,4052012Assets 2013: $39,466,966Liabilities 2013: $12,848,127Net Assets 2013: $26,618,8392013Assets 2014: $43,560,983Liabilities 2014: $14,213,663Net Assets 2014: $29,347,3202014Assets 2015: $43,124,260Liabilities 2015: $12,284,142Net Assets 2015: $30,840,1182015Assets 2016: $46,473,211Liabilities 2016: $12,205,371Net Assets 2016: $34,267,8402016Assets 2017: $49,199,457Liabilities 2017: $11,532,637Net Assets 2017: $37,666,8202017Assets 2018: $59,843,463Liabilities 2018: $11,443,078Net Assets 2018: $48,400,3852018Assets 2019: $57,123,398Liabilities 2019: $11,257,176Net Assets 2019: $45,866,2222019Assets 2020: $70,223,530Liabilities 2020: $17,170,029Net Assets 2020: $53,053,5012020Assets 2021: $72,466,434Liabilities 2021: $14,833,997Net Assets 2021: $57,632,4372021Assets 2022: $67,025,197Liabilities 2022: $14,120,407Net Assets 2022: $52,904,7902022Assets 2023: $69,778,815Liabilities 2023: $13,981,158Net Assets 2023: $55,797,6572023Assets 2024: $76,383,906Liabilities 2024: $14,434,457Net Assets 2024: $61,949,4492024

Highlighted filing

2016

Assets$46,473,211
Liabilities$12,205,371
Net Assets$34,267,840

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $2,971,5902010Expenses 2011: $3,711,9912011Expenses 2012: $5,341,2622012Revenue 2013: $8,444,576Expenses 2013: $6,769,844Net Income 2013: $1,674,7322013Revenue 2014: $9,524,784Expenses 2014: $7,931,661Net Income 2014: $1,593,1232014Revenue 2015: $10,703,911Expenses 2015: $8,916,424Net Income 2015: $1,787,4872015Revenue 2016: $11,882,536Expenses 2016: $10,788,560Net Income 2016: $1,093,9762016Revenue 2017: $12,452,607Expenses 2017: $11,336,852Net Income 2017: $1,115,7552017Revenue 2018: $23,212,112Expenses 2018: $11,033,422Net Income 2018: $12,178,6902018Revenue 2019: $19,185,032Expenses 2019: $17,022,595Net Income 2019: $2,162,4372019Revenue 2020: $22,809,720Expenses 2020: $16,990,315Net Income 2020: $5,819,4052020Revenue 2021: $22,130,164Expenses 2021: $19,346,233Net Income 2021: $2,783,9312021Revenue 2022: $20,529,598Expenses 2022: $20,250,682Net Income 2022: $278,9162022Revenue 2023: $21,940,412Expenses 2023: $21,600,914Net Income 2023: $339,4982023Revenue 2024: $23,350,344Expenses 2024: $24,012,951Net Income 2024: -$662,6072024

Highlighted filing

2016

Revenue$11,882,536
Expenses$10,788,560
Net Income$1,093,976
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 15, 2017
Return Version
2016v3.0
Gross Receipts
$11,882,536
Mission and Program Overview

Mission

The fund is set up to conduct carpentry training for apprentices through a collective bargaining agreement with the ne regional council of carpenters. The fund also conducts upgrade training for journeyman carpenters through collective bargaining agreement with the ne regional coucil of carpenters. The fund performs ongoing curriculum development for the apprentice program and the journeyman upgrade program.

The fund is set up to conduct carpentry training for apprentices through a collective bargaining agreement with the NE regional coucil of carpenters. The fund also conducts

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$19,273,544$20,796,989▲ $1,523,445
Other Notes and Loans Receivable, Net$10,226,460$11,632,088▲ $1,405,628
Land, Buildings, and Equipment, Net$9,614,323$10,544,435▲ $930,112
Savings and Temporary Cash Investments$2,182,384$1,706,836▼ $475,548
Accounts Receivable$772,046$775,072▲ $3,026
Prepaid Expenses and Deferred Charges$381,077$387,042▲ $5,965
Cash and Non-Interest-Bearing Accounts$432,130$311,342▼ $120,788
Intangible Assets$118,466$118,466→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$43,124,260$46,473,211▲ $3,348,951
Other Assets Total$123,830$200,941▲ $77,111
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,901,223$11,120,556▼ $780,667
Accounts Payable and Accrued Expenses$382,919$1,084,815▲ $701,896
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,284,142$12,205,371▼ $78,771
Net Assets / Fund Balance
Unrestricted Net Assets$30,840,118$34,267,840▲ $3,427,722
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$30,840,118$34,267,840▲ $3,427,722
Total Liabilities and Net Assets / Fund Balance$43,124,260$46,473,211▲ $3,348,951

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,720,167$9,471,464$19,191,631
Other Land Buildings$566,095$1,273,330$1,839,425
Equipment$139,873$353,296$493,169
Land$118,300-$118,300
Other Securities$20,796,989--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lyle HammDirectorFT$158,093$53,962$212,055
Karl Ganterfulltime InstructorFT$122,351$66,918$189,269
James BarrFulltime InstructorFT$111,851$57,239$169,090
Cheryl LieteauInstructorFT$110,962$57,978$168,940
Brian ConnearneryInstructorFT$108,658$57,411$166,069
Brian AustinFulltime InstructorFT$107,137$56,051$163,188

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
LidCo Electrical Contractors IncElectrician452 Main Street, Holden, MA 01520$343,197
McDonald Electrical CorpAudio Visual & Sound72 Sharp Street Unic C-8, Hingham, MA 02043$236,682
TG GallagherPlumbers/HVAC109 Smith Place, Cambridge, MA 02138$227,366
Premier Technology Solutions IncTechnology232 Madison Avenue, New York, NY 10016$216,136
Business Interiors Floor CoverFlooring Contractor16 Everberg Road, Woburn, MA 01801$108,562
Revenue and Support

Revenue Composition

Contributions and Grants
$50,848
Program Service Revenue
$9,966,158
Investment Income
$678,926
Other Revenue
$1,186,604
All Other Contributions
$50,848
Change in Net Assets
$1,093,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,567,581
Salaries, Compensation, and Employee Benefits$5,220,979
Total Fundraising Expense$1
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,383,190$810,343-$3,193,533
Other Employee Benefits$1,233,888$341,329-$1,575,217
Occupancy$1,098,658$57,824-$1,156,482
Depreciation Depletion$736,264$38,751-$775,015
Conferences and Meetings$549,821--$549,821
Office Expenses-$386,716-$386,716
Payroll Taxes$232,612$64,347-$296,959
Insurance-$226,621-$226,621
Interest-$156,264$1$156,265
Current Officers, Directors, Trustees, and Key Employees-$155,270-$155,270
Other Expenses$214,176$129,940-$129,940
Fees for Services Accounting-$48,725-$48,725
Travel-$36,329-$36,329
Fees for Services Legal-$33,600-$33,600
All Other Expenses$25,664--$25,664
Fees for Services Other-$18,736-$18,736
Advertising-$18,671-$18,671
Total Functional Expenses$8,265,093$2,523,466$1$10,788,560
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11:

The organization's board of trustees reviews all financial statements and tax returns for errors and omissions.

Form 990, Part VI, Section B, Line 12C

If any employee or trustee becomes aware of a potential conflict of interest they are required to report it to management and the board of trustees for review. An annual review is also conducted to make sure that there are no conflits or potential conflicts that have gone without notice.

Form 990, Part VI, Section B, Line 15

All employee salaries, new hires, and terminations are determined by management and the board of trustess.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, financial statements and other information available upon request.

Filing and Contact Details

Filer

Filer Name
New England Carpenters Training Fund
EIN
04-2675425
In Care Of
% NANCY MORGAN
Phone
5087925443
Address
13 Holman Road, Millbury, MA 01527

Signing Officer

Name
Lyle Hamm
Title
Director
Phone
5087925443
Signed
2017-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lyle Hamm
Formed
1979
Legal Domicile
Ma
Voting Board Members
20
Independent Board Members
20
Employees
92

Preparer

Firm
Bdo USA Llp
Address
TWO INTERNATIONAL PLACE, BOSTON, MA 02110
Preparer
Jeffrey Rogers
Phone
6174220700
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Line 1

The fund is set up to conduct carpentry training for apprentices through a collective bargaining agreement with the NE regional council of carpenters. The fund also conducts upgrade training for journeyman carpenters through collective bargaining agreement with the NE regional council of carpenters. The fund performs ongoing curriculum development for the apprentice program and the journeyman upgrade program.

Schedule R, Part II

The fund is set up to conduct carpentry training for apprentices through a collective bargaining agreement with the new england regional council of carpenters. Specific filing information for the new england regional council of carpenters (the related party) was not made available to the fund. The fund provides a defined benefit pension and annuity plan to its qualified employees through two multi-employer plans. Total payments to the plans for the year ended December 31, 2016 were $33,720. The multi-employer plans to which the fund contributes do not have individual contributing employer information readily available.

Form 990, Part XI, Line 10C:

Other Adjustments: Total Revenue - $11,882,536 Total Expenses - ($10,788,560) Unrealized Gain - $950,269 Transfer of Net Assets During Merger - $1,343,477 Net Assets at End of Year - $34,267,840

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IRS990/Form990PartVIISectionAGrp/PersonNm0Mark Erlich
IRS990/Form990PartVIISectionAGrp/PersonNm1Frank Santa Fe
IRS990/Form990PartVIISectionAGrp/PersonNm2Al Peciaro
IRS990/Form990PartVIISectionAGrp/PersonNm3John P Murphy Jr
IRS990/Form990PartVIISectionAGrp/PersonNm4Dan Kuhs
IRS990/Form990PartVIISectionAGrp/PersonNm5Joseph Broderick
IRS990/Form990PartVIISectionAGrp/PersonNm6Donald Seymour
IRS990/Form990PartVIISectionAGrp/PersonNm7Joel Trojan
IRS990/Form990PartVIISectionAGrp/PersonNm8Joseph McPherson
IRS990/Form990PartVIISectionAGrp/PersonNm9Christopher Pennie
IRS990/Form990PartVIISectionAGrp/PersonNm10Brian C O'donnell
IRS990/Form990PartVIISectionAGrp/PersonNm11William Maheris
IRS990/Form990PartVIISectionAGrp/PersonNm12James Beach
IRS990/Form990PartVIISectionAGrp/PersonNm13Paul Lander
IRS990/Form990PartVIISectionAGrp/PersonNm14Martin Alveranga
IRS990/Form990PartVIISectionAGrp/PersonNm15Dave Borrus
IRS990/Form990PartVIISectionAGrp/PersonNm16Bruce Lydem
IRS990/Form990PartVIISectionAGrp/PersonNm17John Butts
IRS990/Form990PartVIISectionAGrp/PersonNm18John Leavitt
IRS990/Form990PartVIISectionAGrp/PersonNm19Christopher Filome
IRS990/Form990PartVIISectionAGrp/PersonNm20Lyle Hamm
IRS990/Form990PartVIISectionAGrp/PersonNm21James Barr
IRS990/Form990PartVIISectionAGrp/PersonNm22Brian Austin
IRS990/Form990PartVIISectionAGrp/PersonNm23Karl Ganter
IRS990/Form990PartVIISectionAGrp/PersonNm24Cheryl Lieteau
IRS990/Form990PartVIISectionAGrp/PersonNm25Brian Connearnery
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee, Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee, Co-Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Fulltime Instructor
IRS990/Form990PartVIISectionAGrp/TitleTxt22Fulltime Instructor
IRS990/Form990PartVIISectionAGrp/TitleTxt23fulltime Instructor
IRS990/Form990PartVIISectionAGrp/TitleTxt24Instructor
IRS990/Form990PartVIISectionAGrp/TitleTxt25Instructor
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.4$14.4$61.9$23.4$24.0$0.66
2023Detailed filing. Detailed filing data is available for this year.$69.8$14.0$55.8$21.9$21.6$0.34
2022Detailed filing. Detailed filing data is available for this year.$67.0$14.1$52.9$20.5$20.3$0.28
2021Detailed filing. Detailed filing data is available for this year.$72.5$14.8$57.6$22.1$19.3$2.78
2020Detailed filing. Detailed filing data is available for this year.$70.2$17.2$53.1$22.8$17.0$5.82
2019Detailed filing. Detailed filing data is available for this year.$57.1$11.3$45.9$19.2$17.0$2.16
2018Detailed filing. Detailed filing data is available for this year.$59.8$11.4$48.4$23.2$11.0$12.2
2017Detailed filing. Detailed filing data is available for this year.$49.2$11.5$37.7$12.5$11.3$1.12
2016Detailed filing. Detailed filing data is available for this year.$46.5$12.2$34.3$11.9$10.8$1.09
2015Detailed filing. Detailed filing data is available for this year.$43.1$12.3$30.8$10.7$8.92$1.79
2014Detailed filing. Detailed filing data is available for this year.$43.6$14.2$29.3$9.52$7.93$1.59
2013Detailed filing. Detailed filing data is available for this year.$39.5$12.8$26.6$8.44$6.77$1.67
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.4$13.3$23.1$5.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.1$7.62$13.5$3.71
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$7.96$9.50$2.97