Is Steamfitters Industry Security Benefit Fund Legit?
Quick charity verification for Steamfitters Industry Security Benefit Fund (EIN: 136149681)
Verdict: Steamfitters Industry Security Benefit Fund appears trustworthy
85/100Mission Score
$70.2MRevenue
$319.0MAssets
1Red Flags
3Strengths
Red Flags
Consistent periods where expenses exceed revenue (e.g., 2020, 2021, 2022, 2023) could indicate reliance on asset drawdowns, which needs monitoring for long-term sustainability.
Strengths
Strong asset base, growing from $209 million in 2014 to $306 million in 2023, indicating financial stability.
Zero reported officer compensation across all filings, suggesting high efficiency and transparency in leadership compensation.
Consistent revenue generation, averaging over $50 million annually, supporting its benefit obligations.
Spending Breakdown
How Steamfitters Industry Security Benefit 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 Steamfitters Industry Security Benefit Fund
Is Steamfitters Industry Security Benefit Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Steamfitters Industry Security Benefit Fund (EIN: 136149681) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
Is Steamfitters Industry Security Benefit Fund a good charity to donate to?
Steamfitters Industry Security Benefit Fund has a Mission Score of 85/100. Revenue: $70.2M. Assets: $319.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Steamfitters Industry Security Benefit Fund?
The Employer Identification Number (EIN) for Steamfitters Industry Security Benefit Fund is 136149681. 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 Steamfitters Industry Security Benefit Fund spend its money?
Steamfitters Industry Security Benefit Fund allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Steamfitters Industry Security Benefit Fund's tax-exempt status?
You can verify Steamfitters Industry Security Benefit Fund's tax-exempt status using EIN 136149681 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 Steamfitters Industry Security Benefit Fund, classified under NTEE J40 (Employee & Member Welfare Organizations), demonstrates a consistent financial pattern over the past decade. The organization's primary function appears to be managing benefits, as indicated by its NTEE code and the absence of reported officer compensation, suggesting a focus on member services rather than traditional programmatic spending or fundraising. Its assets have grown significantly, from $209 million in 2014 to $306 million in 2023, indicating sound asset management. However, the organization has experienced periods where expenses exceeded revenue, notably in 2023 ($50M expenses vs. $47.5M revenue), 2022 ($55.2M expenses vs. $45M revenue), 2021 ($52.3M expenses vs. $52.2M revenue), and 2020 ($68.7M expenses vs. $46.6M revenue). This suggests that the fund may draw from its asset base to cover benefit payouts during certain periods, which is not uncommon for benefit funds but warrants monitoring for long-term sustainability.
The absence of officer compensation across all reported periods is a significant indicator of transparency and efficiency, as it suggests that the fund's administration is either volunteer-based or compensated through other means not reported as officer compensation on the 990, or that the fund's structure does not involve traditional 'officers' in a compensated capacity. Given its nature as a benefit fund, its 'program spending' would largely be the benefits paid out to members. Without a detailed breakdown of expenses into program, administrative, and fundraising categories in the provided data, a precise spending efficiency ratio is difficult to calculate. However, the consistent growth in assets alongside fluctuating revenue and expenses suggests a well-managed, albeit sometimes deficit-spending, benefit fund.
Overall, the organization appears to be financially stable with substantial assets. The lack of officer compensation is a positive transparency signal. The periods of expenses exceeding revenue are a point to observe, but for a benefit fund, this can be part of its operational model, drawing from reserves to meet obligations. Further detailed expense breakdowns would be needed for a more granular assessment of spending efficiency.