Additional Security Benefits Plan Of The Electrical Industry
Electrical Industry Benefits Plan Consistently Spends More Than It Earns, Drawing Down Assets Over Time.
EIN: 112212659 · Flushing, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $130.7M |
| Total Expenses | $25.5M |
| Program Spending | 90% |
| Net Assets | $362.0M |
| Transparency Score | 75/100 |
Is Additional Security Benefits Plan Of The Electrical Industry Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Additional Security Benefits Plan Of The Electrical Industry directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Additional Security Benefits Plan Of The Electrical Industry
Additional Security Benefits Plan Of The Electrical Industry (EIN: 112212659) is a nonprofit organization based in Flushing, NY. The organization reported total revenue of $130.7M and total assets of $354.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Additional Security Benefits Plan Of The Electrical Industry's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Additional Security Benefits Plan Of The Electrical Industry is a major nonprofit that has been operating for 56 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.3M |
| Total Expenses | $25.5M |
| Surplus / Deficit | $-19,147,269 |
| Total Assets | $364.7M |
| Total Liabilities | $2.7M |
| Net Assets | $362.0M |
| Operating Margin | -303.5% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 171.9 months |
Financial Health Grade: B
In 2023, Additional Security Benefits Plan Of The Electrical Industry reported a deficit of $19.1M with expenses exceeding revenue, holds 171.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Additional Security Benefits Plan Of The Electrical Industry's revenue has declined at a compound annual growth rate (CAGR) of -9.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +50.5% | -5.6% | -6.8% |
| 2022 | -38.8% | +3.9% | -4.1% |
| 2021 | -22.0% | -8.0% | -5.4% |
| 2020 | -18.0% | -11.8% | -8.6% |
| 2019 | +327.8% | -10.8% | -3.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1970 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Additional Security Benefits Plan Of The Electrical Industry with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Additional Security Benefits Plan Of The Electrical Industry allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $19.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation directly from the organization. This suggests a highly efficient approach to executive compensation, or that compensation is handled through an affiliated entity, which would require further investigation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Additional Security Benefits Plan Of The Electrical Industry's IRS 990 filings:
- Consistent and significant decline in assets over the past decade, from $599M in 2014 to $364M in 2023.
- Expenses consistently and substantially exceed revenue, indicating reliance on asset drawdown.
- Lack of NTEE code makes it difficult to categorize and benchmark against similar organizations.
Strengths
The following positive indicators were identified for Additional Security Benefits Plan Of The Electrical Industry:
- Consistent 0% officer compensation reported across all filings, indicating no direct executive salary burden.
- Long history of IRS 990 filings (13 filings), demonstrating consistent regulatory compliance and transparency.
- Significant asset base of $354,082,656 (latest reported) provides a substantial reserve for benefit payouts.
Frequently Asked Questions about Additional Security Benefits Plan Of The Electrical Industry
Is Additional Security Benefits Plan Of The Electrical Industry a legitimate charity?
Additional Security Benefits Plan Of The Electrical Industry (EIN: 112212659) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $130.7M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Additional Security Benefits Plan Of The Electrical Industry spend its money?
Additional Security Benefits Plan Of The Electrical Industry directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Additional Security Benefits Plan Of The Electrical Industry tax-deductible?
Additional Security Benefits Plan Of The Electrical Industry is registered as a tax-exempt nonprofit (EIN: 112212659). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Additional Security Benefits Plan Of The Electrical Industry located?
Additional Security Benefits Plan Of The Electrical Industry is headquartered in Flushing, New York and files with the IRS under EIN 112212659.
How many years of IRS 990 filings does Additional Security Benefits Plan Of The Electrical Industry have?
Additional Security Benefits Plan Of The Electrical Industry has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $130.7M in total revenue.
Is Additional Security Benefits Plan Of The Electrical Industry financially sustainable given its asset decline?
The organization's assets have decreased from $599,186,959 in 2014 to $364,720,882 in 2023, while expenses consistently exceed revenue. This trend suggests the plan is drawing down its principal, raising questions about its long-term actuarial soundness and ability to meet future obligations without additional funding or changes to benefit structures.
What constitutes the majority of the organization's expenses if officer compensation is 0%?
Given the nature of a benefits plan and 0% officer compensation, the vast majority of expenses are likely benefit payouts to participants and necessary administrative costs for managing the plan. Without detailed expense breakdowns, it's difficult to pinpoint exact categories, but benefit disbursements would be the primary driver.
Why is the organization's revenue consistently much lower than its expenses?
As a benefits plan, its 'revenue' might primarily consist of investment income or employer contributions, while 'expenses' include significant benefit payouts. The consistent deficit indicates that the plan is designed to disburse funds, drawing from its accumulated assets rather than solely operating on annual income.
Filing History
IRS 990 filing history for Additional Security Benefits Plan Of The Electrical Industry showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Additional Security Benefits Plan Of The Electrical Industry's revenue has declined by 68.1%, moving from $19.8M to $6.3M. Total assets decreased by 55.6% over the same period, from $821.6M to $364.7M. Total functional expenses fell by 78.3%, from $117.5M to $25.5M. In its most recent filing year (2023), Additional Security Benefits Plan Of The Electrical Industry reported a deficit of $19.1M, with expenses exceeding revenue. The organization holds $2.7M in liabilities against $364.7M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $362.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.3M | $25.5M | $364.7M | $2.7M | — | — |
| 2022 | $4.2M | $27.0M | $391.5M | $5.4M | — | View 990 |
| 2021 | $6.8M | $26.0M | $408.2M | $1.2M | — | View 990 |
| 2020 | $8.8M | $28.2M | $431.3M | $14.7M | — | View 990 |
| 2019 | $10.7M | $32.0M | $471.8M | $35.6M | — | View 990 |
| 2018 | $2.5M | $35.9M | $489.6M | $35.3M | — | View 990 |
| 2017 | $8.1M | $40.0M | $540.5M | $56.5M | — | View 990 |
| 2016 | $13.6M | $45.1M | $551.9M | $36.1M | — | View 990 |
| 2015 | $9.3M | $51.9M | $563.0M | $14.2M | — | View 990 |
| 2014 | $9.5M | $59.4M | $599.2M | $6.6M | — | View 990 |
| 2013 | $5.1M | $68.1M | $668.9M | $25.9M | — | View 990 |
| 2012 | $12.9M | $91.1M | $730.7M | $21.8M | — | View 990 |
| 2011 | $19.8M | $117.5M | $821.6M | $42.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.3M, expenses of $25.5M, and assets of $364.7M (revenue +50.5% year-over-year).
- 2022: Revenue of $4.2M, expenses of $27.0M, and assets of $391.5M (revenue -38.8% year-over-year).
- 2021: Revenue of $6.8M, expenses of $26.0M, and assets of $408.2M (revenue -22.0% year-over-year).
- 2020: Revenue of $8.8M, expenses of $28.2M, and assets of $431.3M (revenue -18.0% year-over-year).
- 2019: Revenue of $10.7M, expenses of $32.0M, and assets of $471.8M (revenue +327.8% year-over-year).
- 2018: Revenue of $2.5M, expenses of $35.9M, and assets of $489.6M (revenue -69.1% year-over-year).
- 2017: Revenue of $8.1M, expenses of $40.0M, and assets of $540.5M (revenue -40.4% year-over-year).
- 2016: Revenue of $13.6M, expenses of $45.1M, and assets of $551.9M (revenue +46.3% year-over-year).
- 2015: Revenue of $9.3M, expenses of $51.9M, and assets of $563.0M (revenue -1.9% year-over-year).
- 2014: Revenue of $9.5M, expenses of $59.4M, and assets of $599.2M (revenue +86.0% year-over-year).
- 2013: Revenue of $5.1M, expenses of $68.1M, and assets of $668.9M (revenue -60.5% year-over-year).
- 2012: Revenue of $12.9M, expenses of $91.1M, and assets of $730.7M (revenue -35.0% year-over-year).
- 2011: Revenue of $19.8M, expenses of $117.5M, and assets of $821.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Additional Security Benefits Plan Of The Electrical Industry:
Data Sources and Methodology
This transparency report for Additional Security Benefits Plan Of The Electrical Industry is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.