Is Building Services Local 2 Welfare Fund…

Quick charity verification for Building Services Local 2 Welfare Fund (EIN: 111831226)

Spending Breakdown

How Building Services Local 2 Welfare Fund allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 Building Services Local 2 Welfare Fund

Is Building Services Local 2 Welfare Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Building Services Local 2 Welfare Fund (EIN: 111831226) appears trustworthy. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.

Is Building Services Local 2 Welfare Fund a good charity to donate to?

Building Services Local 2 Welfare Fund has a Mission Score of 95/100. Revenue: $17.1M. Assets: $28.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Building Services Local 2 Welfare Fund?

The Employer Identification Number (EIN) for Building Services Local 2 Welfare Fund is 111831226. 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 Building Services Local 2 Welfare Fund spend its money?

Building Services Local 2 Welfare Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Building Services Local 2 Welfare Fund's tax-exempt status?

You can verify Building Services Local 2 Welfare Fund's tax-exempt status using EIN 111831226 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

Building Services Local 2 Welfare Fund demonstrates consistent financial growth and strong asset accumulation over the past decade. The organization's revenue has steadily increased from $4,907,165 in 2013 to $6,495,392 in 2023, with a notable peak of $7,504,280 in 2021. Assets have also seen substantial growth, rising from $6,855,213 in 2013 to $23,926,493 in 2023, indicating effective financial management and investment. The organization consistently reports zero officer compensation, which is a significant positive indicator for transparency and efficient use of funds, as it suggests that the welfare fund's primary purpose is to benefit its members rather than enrich its leadership.

Spending efficiency appears robust, with expenses generally lower than revenue, allowing for asset growth. For instance, in 2023, expenses were $3,582,883 against revenues of $6,495,392, resulting in a substantial surplus. The low liabilities across all reported periods, such as $69,622 in 2023, further underscore financial stability and responsible management. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the absence of officer compensation and the consistent surpluses suggest a strong focus on its core welfare mission.

Overall, the financial health of Building Services Local 2 Welfare Fund appears very strong. The consistent growth in assets, healthy revenue streams, and minimal liabilities, coupled with zero reported officer compensation, paint a picture of a well-managed and transparent organization dedicated to its purpose. The lack of NTEE code information and detailed expense categories in the provided data limits a deeper analysis of program efficiency, but the available metrics are highly favorable.

Is Building Services Local 2 Welfare Fund Legit?

Verdict: Building Services Local 2 Welfare Fund appears trustworthy

Red Flags

Strengths