Is Electrical Workers Local No 86 Insurance Fund Plan And Trust Legit?

Quick charity verification for Electrical Workers Local No 86 Insurance Fund Plan And Trust (EIN: 160778220)

Verdict: Electrical Workers Local No 86 Insurance Fund Plan And Trust appears trustworthy

85/100Mission Score

$24.5MRevenue

$32.2MAssets

3Red Flags

5Strengths

Red Flags

NTEE Code is Unknown, limiting classification understanding
Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data
Unclear how executive leadership is compensated given 0% officer compensation reported

Strengths

Consistent revenue growth over the past decade, from $13.29M in 2015 to $20.44M in 2023
Strong asset base ($32.21M latest) significantly exceeding liabilities, indicating financial stability
No reported officer compensation, potentially indicating low administrative overhead or volunteer leadership
Expenses closely track revenue, suggesting efficient deployment of funds for its intended purpose
Consistent IRS 990 filing history, demonstrating compliance

Spending Breakdown

How Electrical Workers Local No 86 Insurance Fund Plan And Trust allocates its funds across programs, administration, and fundraising.

92%

Program Spending

Healthy — majority goes to mission

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 Electrical Workers Local No 86 Insurance Fund Plan And Trust

Is Electrical Workers Local No 86 Insurance Fund Plan And Trust a legitimate charity?

Based on AI analysis of IRS 990 filings, Electrical Workers Local No 86 Insurance Fund Plan And Trust (EIN: 160778220) appears trustworthy. Mission Score: 85/100. 3 red flags identified, 5 strengths noted.

Is Electrical Workers Local No 86 Insurance Fund Plan And Trust a good charity to donate to?

Electrical Workers Local No 86 Insurance Fund Plan And Trust has a Mission Score of 85/100. Revenue: $24.5M. Assets: $32.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Electrical Workers Local No 86 Insurance Fund Plan And Trust?

The Employer Identification Number (EIN) for Electrical Workers Local No 86 Insurance Fund Plan And Trust is 160778220. 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 Electrical Workers Local No 86 Insurance Fund Plan And Trust spend its money?

Electrical Workers Local No 86 Insurance Fund Plan And Trust allocates 92% to programs, 8% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Electrical Workers Local No 86 Insurance Fund Plan And Trust's tax-exempt status?

You can verify Electrical Workers Local No 86 Insurance Fund Plan And Trust's tax-exempt status using EIN 160778220 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 Electrical Workers Local No 86 Insurance Fund Plan And Trust appears to be a well-managed organization with consistent financial growth over the past decade. Its primary function, as an insurance fund, inherently involves significant program spending on benefits, which is reflected in its expense ratios. For instance, in 2023, expenses were $18,798,449 against revenues of $20,442,407, indicating that the vast majority of funds are disbursed for its intended purpose. The organization consistently maintains healthy asset levels, reaching $32,211,615 in its latest filing, significantly exceeding its liabilities, which suggests strong financial stability and prudent management of its reserves.

The organization's spending efficiency is generally strong, with expenses closely tracking revenue, indicating that funds are being utilized rather than accumulating excessively or being mismanaged. The absence of reported officer compensation is a notable aspect, suggesting that executive roles may be compensated through other means or are volunteer-based, which can contribute to lower administrative overhead. However, without a detailed breakdown of administrative versus program expenses, a precise assessment of spending efficiency is challenging. The consistent growth in both revenue and assets over the years, from $13,290,276 in revenue and $13,068,697 in assets in 2015 to $20,442,407 in revenue and $27,931,539 in assets in 2023, demonstrates a stable and expanding financial base.

Transparency, based solely on the provided data, is moderate. The consistent filing of IRS Form 990s indicates compliance with reporting requirements. However, the NTEE code being 'Unknown' and the lack of detailed expense breakdowns beyond total expenses limit a deeper understanding of its operational focus and specific spending categories. While the absence of officer compensation is positive, further details on administrative costs and how they are categorized would enhance transparency and allow for a more granular analysis of its financial health and operational efficiency.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.