Is Iron Workers Locals 40 & 361 Topping Out Fund Legit?

Quick charity verification for Iron Workers Locals 40 & 361 Topping Out Fund (EIN: 133156507)

Verdict: Iron Workers Locals 40 & 361 Topping Out Fund appears trustworthy

85/100Mission Score

$216.9MRevenue

$318.8MAssets

1Red Flags

4Strengths

Red Flags

Slight operational deficit in the latest fiscal period (202312), with expenses exceeding revenue by nearly $1 million.

Strengths

Consistent reporting of 0% officer compensation across all filings, indicating efficient use of funds and strong governance.
Substantial and growing asset base, increasing from $158 million in 2014 to over $300 million in 2023.
Low liabilities relative to assets, demonstrating strong financial solvency.
Consistent filing of IRS 990 forms over 13 periods, indicating good transparency practices.

Spending Breakdown

How Iron Workers Locals 40 & 361 Topping Out 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

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 Topping Out Fund

Is Iron Workers Locals 40 & 361 Topping Out Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Iron Workers Locals 40 & 361 Topping Out Fund (EIN: 133156507) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.

Is Iron Workers Locals 40 & 361 Topping Out Fund a good charity to donate to?

Iron Workers Locals 40 & 361 Topping Out Fund has a Mission Score of 85/100. Revenue: $216.9M. Assets: $318.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Iron Workers Locals 40 & 361 Topping Out Fund?

The Employer Identification Number (EIN) for Iron Workers Locals 40 & 361 Topping Out Fund is 133156507. 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 Topping Out Fund spend its money?

Iron Workers Locals 40 & 361 Topping Out Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Iron Workers Locals 40 & 361 Topping Out Fund's tax-exempt status?

You can verify Iron Workers Locals 40 & 361 Topping Out Fund's tax-exempt status using EIN 133156507 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 Topping Out Fund demonstrates a consistent financial operation with substantial assets and revenue. In the latest filing (202312), the organization reported revenues of $49,037,897 against expenses of $50,020,862, indicating a slight deficit for that period. However, its overall asset base remains robust at $303,166,578, suggesting long-term financial stability. The fund consistently reports zero officer compensation, which is a positive indicator for transparency and efficient use of funds, as it suggests that leadership is not drawing salaries from the organization's operational budget. The fund's liabilities are also relatively low compared to its assets, further reinforcing its financial health.

The organization's spending efficiency appears to be well-managed, with expenses generally tracking revenue over the past several years. While there was a slight deficit in 2023, previous years often showed a surplus, such as in 202212 where revenue was $58,496,866 and expenses were $50,099,711. The consistent growth in assets from $158,839,798 in 2014 to over $300 million in 2023 indicates effective asset management and accumulation. The lack of officer compensation is a significant factor in assessing its spending efficiency, as it implies a greater proportion of funds are directed towards its stated purpose rather than administrative overhead related to executive salaries.

Regarding transparency, the consistent filing of IRS 990 forms over 13 periods is a strong positive. The absence of officer compensation is a key piece of information that enhances transparency, as it clearly indicates how executive leadership is compensated (or not compensated) from the organization's funds. Without a detailed breakdown of program, administrative, and fundraising expenses in the provided data, a precise assessment of spending efficiency across these categories is challenging. However, the overall financial health and the zero officer compensation suggest a well-managed and potentially transparent operation, particularly concerning executive remuneration.

View Full Transparency Report →

Disclaimer

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