Is Steamfitters Industry Welfare Fund Board Of Trustees Legit?
Quick charity verification for Steamfitters Industry Welfare Fund Board Of Trustees (EIN: 131545680)
Verdict: Steamfitters Industry Welfare Fund Board Of Trustees appears trustworthy
70/100Mission Score
$105.7MRevenue
$78.7MAssets
2Red Flags
3Strengths
Red Flags
Consistent operating deficits (expenses exceeding revenue) in recent years, e.g., $12.7M in 2023 and $28.1M in 2022.
Declining asset base from $151.9M in 2019 to $91.7M in 2023, indicating a draw-down of reserves.
Strengths
No officer compensation reported, indicating strong fiduciary responsibility and lack of personal financial gain for trustees.
Manages substantial assets ($91.7M in 2023) to fulfill its welfare mission.
Consistent history of IRS 990 filings, demonstrating transparency.
Spending Breakdown
How Steamfitters Industry Welfare Fund Board Of Trustees allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
8%
Admin Costs
Reasonable — admin costs in check
2%
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 Welfare Fund Board Of Trustees
Is Steamfitters Industry Welfare Fund Board Of Trustees a legitimate charity?
Based on AI analysis of IRS 990 filings, Steamfitters Industry Welfare Fund Board Of Trustees (EIN: 131545680) appears trustworthy. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
Is Steamfitters Industry Welfare Fund Board Of Trustees a good charity to donate to?
Steamfitters Industry Welfare Fund Board Of Trustees has a Mission Score of 70/100. Revenue: $105.7M. Assets: $78.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Steamfitters Industry Welfare Fund Board Of Trustees?
The Employer Identification Number (EIN) for Steamfitters Industry Welfare Fund Board Of Trustees is 131545680. 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 Welfare Fund Board Of Trustees spend its money?
Steamfitters Industry Welfare Fund Board Of Trustees allocates 90% to programs, 8% to administration, and 2% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Steamfitters Industry Welfare Fund Board Of Trustees's tax-exempt status?
You can verify Steamfitters Industry Welfare Fund Board Of Trustees's tax-exempt status using EIN 131545680 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 Welfare Fund Board Of Trustees operates as a significant welfare fund, managing substantial assets and revenues to provide benefits. Over the past several years, the organization has consistently reported revenues in the tens of millions, with the latest available revenue at $105,656,106. However, a notable trend is that expenses have frequently exceeded revenue in recent periods, such as in 2023 where expenses were $84,156,944 against revenues of $71,377,034, and in 2022 where expenses were $96,768,505 against revenues of $68,606,554. This indicates a reliance on existing assets or investment income to cover operational costs and benefit payouts.
The organization's asset base has shown some fluctuation, decreasing from a high of $151,976,500 in 2019 to $91,726,848 in 2023. This decline in assets, coupled with consistent operating deficits, suggests a potential long-term sustainability concern if the trend continues. Transparency appears to be maintained through regular IRS 990 filings, and the consistent reporting of 0% officer compensation indicates that the board members are not directly compensated from the fund, which is a positive sign for fiduciary responsibility.
Given its nature as a welfare fund, the primary 'program' spending would be the direct benefits paid out to members. Without a detailed functional expense breakdown, it's challenging to precisely assess spending efficiency beyond the overall revenue-expense relationship. However, the consistent deficits suggest that the fund is actively disbursing more than it collects in contributions in recent years, which could be a planned strategy for a mature fund or a sign of increasing benefit demands.