Is Additional Security Benefits Plan Of The Electrical Industry Legit?
Quick charity verification for Additional Security Benefits Plan Of The Electrical Industry (EIN: 112212659)
Verdict: Additional Security Benefits Plan Of The Electrical Industry appears trustworthy
75/100Mission Score
$130.7MRevenue
$354.1MAssets
3Red Flags
3Strengths
Red Flags
Consistent and significant decline in assets over the past decade, from $599M in 2014 to $364M in 2023.
Expenses consistently and substantially exceed revenue, indicating reliance on asset drawdown.
Lack of NTEE code makes it difficult to categorize and benchmark against similar organizations.
Strengths
Consistent 0% officer compensation reported across all filings, indicating no direct executive salary burden.
Long history of IRS 990 filings (13 filings), demonstrating consistent regulatory compliance and transparency.
Significant asset base of $354,082,656 (latest reported) provides a substantial reserve for benefit payouts.
Spending Breakdown
How Additional Security Benefits Plan Of The Electrical Industry allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Additional Security Benefits Plan Of The Electrical Industry
Is Additional Security Benefits Plan Of The Electrical Industry a legitimate charity?
Based on AI analysis of IRS 990 filings, Additional Security Benefits Plan Of The Electrical Industry (EIN: 112212659) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Additional Security Benefits Plan Of The Electrical Industry a good charity to donate to?
Additional Security Benefits Plan Of The Electrical Industry has a Mission Score of 75/100. Revenue: $130.7M. Assets: $354.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Additional Security Benefits Plan Of The Electrical Industry?
The Employer Identification Number (EIN) for Additional Security Benefits Plan Of The Electrical Industry is 112212659. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Additional Security Benefits Plan Of The Electrical Industry spend its money?
Additional Security Benefits Plan Of The Electrical Industry allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Additional Security Benefits Plan Of The Electrical Industry's tax-exempt status?
You can verify Additional Security Benefits Plan Of The Electrical Industry's tax-exempt status using EIN 112212659 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Additional Security Benefits Plan Of The Electrical Industry appears to be a benefits plan rather than a traditional public charity, which significantly impacts the interpretation of its financial data. Its primary function seems to be managing assets and distributing benefits, as indicated by consistently high expenses relative to reported revenue across multiple years. For instance, in 2023, revenue was $6,308,811 while expenses were $25,456,080, suggesting significant distributions from its asset base. The organization consistently reports 0% officer compensation, which is a positive indicator of executive compensation transparency and efficiency, as it suggests that administrative costs are not inflated by high salaries for top executives.
The organization's assets have shown a consistent decline over the past decade, from $599,186,959 in 2014 to $364,720,882 in 2023. This trend, coupled with expenses regularly exceeding revenue, indicates that the plan is drawing down its principal to cover benefit payouts and operational costs. While this is not inherently negative for a benefits plan designed to disburse funds, it highlights the importance of understanding the plan's actuarial soundness and long-term sustainability. The lack of an NTEE code makes it difficult to benchmark against similar organizations, but the consistent financial reporting over 13 years suggests a commitment to regulatory transparency.