Is Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund Legit?
Quick charity verification for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund (EIN: 111628171)
Verdict: Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund appears trustworthy
92/100Mission Score
$40.4MRevenue
$48.9MAssets
2Red Flags
5Strengths
Red Flags
Lack of detailed program spending breakdown in provided data
Unusually low liabilities relative to assets, which could warrant further investigation into financial structure
Strengths
Consistent and significant revenue growth over a decade (from $18.6M in 2014 to $36.8M in 2023)
Strong asset base ($46.1M in 2023) significantly exceeding liabilities ($755,726 in 2023)
No reported officer compensation across all filings, indicating high resource allocation to mission
Positive net income in most years, contributing to asset accumulation
Long history of IRS 990 filings (13 filings), suggesting consistent compliance and transparency
Spending Breakdown
How Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
7%
Admin Costs
Reasonable — admin costs in check
3%
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 Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund
Is Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund (EIN: 111628171) appears trustworthy. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.
Is Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund a good charity to donate to?
Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund has a Mission Score of 92/100. Revenue: $40.4M. Assets: $48.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund?
The Employer Identification Number (EIN) for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund is 111628171. 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 Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund spend its money?
Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund allocates 90% to programs, 7% to administration, and 3% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's tax-exempt status?
You can verify Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's tax-exempt status using EIN 111628171 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
Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund demonstrates consistent financial growth and appears to be a well-managed entity. Over the past decade, its revenue has steadily increased from $18.6 million in 2014 to $36.8 million in 2023, indicating strong financial health and sustainability. The organization consistently maintains a healthy asset base, reaching $46.1 million in 2023, significantly exceeding its liabilities of $755,726, which suggests robust financial stability and capacity to meet its obligations.
The organization's spending efficiency is notable, with expenses generally tracking below revenue, allowing for asset accumulation. For instance, in 2023, expenses were $31.4 million against $36.8 million in revenue, resulting in a surplus. While specific program spending percentages are not detailed in the provided data, the overall financial picture suggests effective management of resources. The consistent reporting of 0% officer compensation across all filings indicates a commitment to directing funds towards the organization's welfare objectives rather than executive salaries, which is a positive sign for transparency and mission focus.