Is Ironworkers Local No 6 Medical And Sub Pay Fund Legit?
Quick charity verification for Ironworkers Local No 6 Medical And Sub Pay Fund (EIN: 133234213)
Verdict: Ironworkers Local No 6 Medical And Sub Pay Fund appears trustworthy
85/100Mission Score
$7.4MRevenue
$13.4MAssets
1Red Flags
4Strengths
Red Flags
No reported officer compensation despite significant assets and revenue, which is unusual and warrants further inquiry into how leadership is compensated or if it's entirely volunteer-run.
Strengths
Consistent asset growth, from $5.8 million in 2014 to $9.5 million in 2023, indicating strong financial management.
Low liabilities relative to assets, suggesting a healthy balance sheet.
Positive net income in most years, demonstrating financial sustainability (e.g., $4.2M revenue vs. $3.2M expenses in 2023).
No reported officer compensation, potentially indicating a highly efficient and mission-focused operation.
Spending Breakdown
How Ironworkers Local No 6 Medical And Sub Pay 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
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 Ironworkers Local No 6 Medical And Sub Pay Fund
Is Ironworkers Local No 6 Medical And Sub Pay Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Ironworkers Local No 6 Medical And Sub Pay Fund (EIN: 133234213) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Ironworkers Local No 6 Medical And Sub Pay Fund a good charity to donate to?
Ironworkers Local No 6 Medical And Sub Pay Fund has a Mission Score of 85/100. Revenue: $7.4M. Assets: $13.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Ironworkers Local No 6 Medical And Sub Pay Fund?
The Employer Identification Number (EIN) for Ironworkers Local No 6 Medical And Sub Pay Fund is 133234213. 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 Ironworkers Local No 6 Medical And Sub Pay Fund spend its money?
Ironworkers Local No 6 Medical And Sub Pay Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Ironworkers Local No 6 Medical And Sub Pay Fund's tax-exempt status?
You can verify Ironworkers Local No 6 Medical And Sub Pay Fund's tax-exempt status using EIN 133234213 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
Ironworkers Local No 6 Medical And Sub Pay Fund demonstrates consistent financial stability, primarily serving as a medical and supplemental pay fund for its members. Over the past decade, the organization has shown steady growth in assets, from $5,822,053 in 2014 to $9,523,242 in 2023, indicating sound financial management and accumulation of reserves. Revenue and expenses have fluctuated, but the organization generally maintains a positive net income, as seen in 2023 with revenues of $4,268,558 against expenses of $3,208,270. The absence of reported officer compensation across all filings suggests a lean administrative structure, which is a positive indicator of efficiency and dedication to its primary purpose. The organization's liabilities have remained relatively low compared to its assets, further reinforcing its financial health. Without a detailed breakdown of program, administrative, and fundraising expenses, a precise spending efficiency ratio cannot be calculated, but the overall financial trends suggest a well-managed fund focused on its beneficiaries.