Quick charity verification for Industry & Local 338 Welfare Fund (EIN: 131818220)
Verdict: Industry & Local 338 Welfare Fund appears trustworthy
70/100Mission Score
$6.1MRevenue
$6.8MAssets
3Red Flags
3Strengths
Red Flags
Consistent operational deficits in recent years (e.g., 2023, 2022, 2021 expenses exceeded revenue)
NTEE code is unknown, hindering comparative analysis
Lack of detailed functional expense breakdown in provided data
Strengths
Consistent 0% officer compensation, indicating efficient use of funds for mission-related activities
Stable asset base (around $7-8 million) providing financial resilience
Long filing history (13 filings) suggests consistent compliance and operational longevity
Spending Breakdown
How Industry & Local 338 Welfare Fund allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
15%
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 Industry & Local 338 Welfare Fund
Is Industry & Local 338 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Industry & Local 338 Welfare Fund (EIN: 131818220) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
Is Industry & Local 338 Welfare Fund a good charity to donate to?
Industry & Local 338 Welfare Fund has a Mission Score of 70/100. Revenue: $6.1M. Assets: $6.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Industry & Local 338 Welfare Fund?
The Employer Identification Number (EIN) for Industry & Local 338 Welfare Fund is 131818220. 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 Industry & Local 338 Welfare Fund spend its money?
Industry & Local 338 Welfare Fund allocates 85% to programs, 15% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Industry & Local 338 Welfare Fund's tax-exempt status?
You can verify Industry & Local 338 Welfare Fund's tax-exempt status using EIN 131818220 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 Industry & Local 338 Welfare Fund demonstrates a consistent operational pattern, with revenues generally tracking expenses over the past decade. For instance, in 2023, the organization reported revenues of $2,064,762 against expenses of $2,530,193, indicating a deficit for that period. This trend of expenses occasionally exceeding revenue is visible across several years, such as 2022 ($2,347,592 revenue vs. $2,388,172 expenses) and 2021 ($2,325,540 revenue vs. $2,505,508 expenses). The organization's assets have remained relatively stable, hovering around $7-8 million, suggesting a solid financial base despite year-to-year fluctuations in operating results. A notable strength is the consistent reporting of 0% officer compensation, which enhances transparency and indicates that executive leadership is not drawing salaries from the organization's funds. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency and program focus. The NTEE code being unknown also limits the ability to benchmark against similar organizations.