Is Iron Workers Locals 40 361 & 417 Welfare Fund Legit?
Quick charity verification for Iron Workers Locals 40 361 & 417 Welfare Fund (EIN: 135622663)
Verdict: Iron Workers Locals 40 361 & 417 Welfare Fund appears trustworthy
90/100Mission Score
$247.3MRevenue
$208.2MAssets
0Red Flags
4Strengths
No red flags identified.
Strengths
Consistent near break-even operations, indicating efficient use of funds for its purpose.
Strong asset base relative to liabilities, demonstrating financial solvency (e.g., $215M assets vs. $31M liabilities in 2023).
No reported officer compensation, suggesting high transparency and dedication of funds to mission.
Stable revenue and expense patterns over a decade, indicating predictable financial management.
Spending Breakdown
How Iron Workers Locals 40 361 & 417 Welfare Fund allocates its funds across programs, administration, and fundraising.
99%
Program Spending
Healthy — majority goes to mission
1%
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 Locals 40 361 & 417 Welfare Fund
Is Iron Workers Locals 40 361 & 417 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Iron Workers Locals 40 361 & 417 Welfare Fund (EIN: 135622663) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
Is Iron Workers Locals 40 361 & 417 Welfare Fund a good charity to donate to?
Iron Workers Locals 40 361 & 417 Welfare Fund has a Mission Score of 90/100. Revenue: $247.3M. Assets: $208.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Iron Workers Locals 40 361 & 417 Welfare Fund?
The Employer Identification Number (EIN) for Iron Workers Locals 40 361 & 417 Welfare Fund is 135622663. 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 Locals 40 361 & 417 Welfare Fund spend its money?
Iron Workers Locals 40 361 & 417 Welfare Fund allocates 99% to programs, 1% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Iron Workers Locals 40 361 & 417 Welfare Fund's tax-exempt status?
You can verify Iron Workers Locals 40 361 & 417 Welfare Fund's tax-exempt status using EIN 135622663 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 Locals 40 361 & 417 Welfare Fund demonstrates consistent financial activity over the past decade, managing substantial revenues and expenses. For instance, in 2023, the organization reported revenues of $112,084,782 against expenses of $110,845,905, indicating a close alignment between income and expenditures. This pattern of near break-even operations is typical for welfare funds, which primarily exist to disburse benefits rather than accumulate large surpluses. The fund maintains a healthy asset base, with assets of $215,251,956 in 2023, significantly exceeding its liabilities of $31,673,254, suggesting strong financial solvency and ability to meet future obligations. The consistent reporting of 0% officer compensation across all available filings indicates a high degree of transparency regarding executive pay, as it suggests that the fund's officers are not directly compensated through the organization's operational budget, or their compensation is covered by other entities. This practice enhances trust and accountability, as it eliminates potential concerns about excessive executive salaries diverting funds from the organization's primary purpose.