Is Craft Division Of Local 1049 Health And Welfare Fund Legit?
Quick charity verification for Craft Division Of Local 1049 Health And Welfare Fund (EIN: 116043757)
Verdict: Craft Division Of Local 1049 Health And Welfare Fund appears trustworthy
85/100Mission Score
$74.8MRevenue
$127.3MAssets
2Red Flags
4Strengths
Red Flags
Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data makes efficiency assessment difficult.
Consistent 0% officer compensation for an organization of this size and complexity could indicate compensation is hidden or paid by an external entity, potentially obscuring true administrative costs.
Strengths
Consistent and significant asset growth, from $28.1M in 2014 to $111.9M in 2023, demonstrating strong financial management.
Consistently positive net income, with revenues exceeding expenses in most years (e.g., $27.7M revenue vs. $23.5M expenses in 2023), indicating financial stability.
Long history of IRS 990 filings (13 years) provides good financial transparency and historical data.
No reported officer compensation, suggesting low direct executive overhead if compensation is truly absent or covered elsewhere.
Spending Breakdown
How Craft Division Of Local 1049 Health And 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
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 Craft Division Of Local 1049 Health And Welfare Fund
Is Craft Division Of Local 1049 Health And Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Craft Division Of Local 1049 Health And Welfare Fund (EIN: 116043757) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Craft Division Of Local 1049 Health And Welfare Fund a good charity to donate to?
Craft Division Of Local 1049 Health And Welfare Fund has a Mission Score of 85/100. Revenue: $74.8M. Assets: $127.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Craft Division Of Local 1049 Health And Welfare Fund?
The Employer Identification Number (EIN) for Craft Division Of Local 1049 Health And Welfare Fund is 116043757. 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 Craft Division Of Local 1049 Health And Welfare Fund spend its money?
Craft Division Of Local 1049 Health And Welfare Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Craft Division Of Local 1049 Health And Welfare Fund's tax-exempt status?
You can verify Craft Division Of Local 1049 Health And Welfare Fund's tax-exempt status using EIN 116043757 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
The Craft Division Of Local 1049 Health And Welfare Fund demonstrates consistent financial growth and appears to be fiscally sound. Over the past decade, its assets have grown significantly from $28,177,621 in 2014 to $111,919,620 in 2023, indicating strong financial management and accumulation of resources. The organization consistently reports positive net income, with revenues generally exceeding expenses, such as in 2023 where revenue was $27,723,174 against expenses of $23,505,423. This trend suggests a healthy ability to cover its operational costs and build reserves.
Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to provide a precise assessment. However, as a health and welfare fund, its primary 'program' spending would typically be direct benefits to members. The consistent growth in assets and the positive difference between revenue and expenses suggest that the fund is effectively managing its resources to meet its objectives. The absence of reported officer compensation across all filings indicates a potential strength in minimizing overhead related to executive pay, though further details on other administrative costs would be beneficial for a complete picture.
Transparency is generally good given the availability of 13 years of IRS 990 filings. These filings provide a clear historical record of financial performance, including revenue, expenses, assets, and liabilities. The consistent reporting of 0% officer compensation is a notable point for transparency. However, without specific NTEE codes or more granular expense breakdowns within the provided data, a deeper analysis of program efficiency versus administrative overhead is limited. Overall, the organization appears to be well-managed financially, with a clear growth trajectory in its asset base.