Is Iron Workers District Council Of Western Ny & Vicinity Welfare Plan Legit?
Quick charity verification for Iron Workers District Council Of Western Ny & Vicinity Welfare Plan (EIN: 160776208)
Verdict: Iron Workers District Council Of Western Ny & Vicinity Welfare Plan appears trustworthy
95/100Mission Score
$12.9MRevenue
$6.7MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent financial surpluses, contributing to asset growth (e.g., 2023 revenue $5,744,625 vs. expenses $4,789,673).
Significant growth in assets over the past decade, from $2,136,513 in 2014 to $6,142,792 in 2023.
No reported officer compensation across all filings, indicating high efficiency and direct allocation of funds to the plan's purpose.
Low liabilities relative to assets, demonstrating strong financial stability (e.g., 2023 liabilities $311,869 vs. assets $6,142,792).
Stable and growing revenue streams over time.
Spending Breakdown
How Iron Workers District Council Of Western Ny & Vicinity Welfare Plan 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 Iron Workers District Council Of Western Ny & Vicinity Welfare Plan
Is Iron Workers District Council Of Western Ny & Vicinity Welfare Plan a legitimate charity?
Based on AI analysis of IRS 990 filings, Iron Workers District Council Of Western Ny & Vicinity Welfare Plan (EIN: 160776208) appears trustworthy. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
Is Iron Workers District Council Of Western Ny & Vicinity Welfare Plan a good charity to donate to?
Iron Workers District Council Of Western Ny & Vicinity Welfare Plan has a Mission Score of 95/100. Revenue: $12.9M. Assets: $6.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Iron Workers District Council Of Western Ny & Vicinity Welfare Plan?
The Employer Identification Number (EIN) for Iron Workers District Council Of Western Ny & Vicinity Welfare Plan is 160776208. 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 Iron Workers District Council Of Western Ny & Vicinity Welfare Plan spend its money?
Iron Workers District Council Of Western Ny & Vicinity Welfare Plan allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Iron Workers District Council Of Western Ny & Vicinity Welfare Plan's tax-exempt status?
You can verify Iron Workers District Council Of Western Ny & Vicinity Welfare Plan's tax-exempt status using EIN 160776208 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 Iron Workers District Council Of Western NY & Vicinity Welfare Plan demonstrates consistent financial growth and a strong asset base. Over the past decade, its assets have grown significantly from $2,136,513 in 2014 to $6,142,792 in 2023, indicating sound financial management and accumulation of reserves. The organization consistently operates with a surplus, as seen in 2023 where revenue of $5,744,625 exceeded expenses of $4,789,673, contributing to its financial stability. Liabilities remain a small fraction of assets, suggesting a healthy balance sheet.
Spending efficiency appears strong, particularly given the nature of a welfare plan, which typically involves direct benefit payments. The absence of reported officer compensation across all available filings is a significant indicator of efficient use of funds, as it suggests that administrative costs related to executive salaries are either non-existent or covered by other entities, allowing more resources to be directed towards the plan's beneficiaries. This lack of reported compensation also points to a high degree of transparency regarding executive pay, as it clearly states that no compensation was paid to officers.
Overall, the organization exhibits robust financial health with a growing asset base and consistent revenue generation. The lack of officer compensation reported on the 990s is a strong positive for transparency and efficiency, suggesting that the vast majority of funds are allocated to the plan's intended purpose. The consistent surpluses further reinforce its capacity to meet future obligations and expand its services.