Iaff Local 587 Health Ins Tr Fund
EIN: 827012034 · Miami, FL · NTEE: Y43
Is Iaff Local 587 Health Ins Tr Fund Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Iaff Local 587 Health Ins Tr Fund
Iaff Local 587 Health Ins Tr Fund (EIN: 827012034) is a nonprofit organization based in Miami, FL, classified under NTEE code Y43. The organization reported total revenue of $39.9M and total assets of $34.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iaff Local 587 Health Ins Tr Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iaff Local 587 Health Ins Tr Fund is a large nonprofit that has been operating for 7 years, with 5 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 80.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $26.3M |
| Total Expenses | $60.3M |
| Surplus / Deficit | $-34,023,701 |
| Total Assets | $22.8M |
| Total Liabilities | $184.4M |
| Net Assets | $-161,600,538 |
| Operating Margin | -129.3% |
| Debt-to-Asset Ratio | 809.3% |
| Months of Reserves | 4.5 months |
Financial Health Grade: C
In 2023, Iaff Local 587 Health Ins Tr Fund reported a deficit of $34.0M with expenses exceeding revenue, holds 4.5 months of operating reserves (adequate), has a debt-to-asset ratio of 809.3% (high leverage).
Financial Trends
Over 5 years of filings (2018–2023), Iaff Local 587 Health Ins Tr Fund's revenue has grown at a compound annual growth rate (CAGR) of 80.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.1% | +14.1% | +3.4% |
| 2022 | +700.5% | -42.5% | +233.6% |
| 2020 | -86.4% | +382.4% | +0.4% |
| 2019 | +1646.2% | +38255.8% | +391.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Iaff Local 587 Health Ins Tr Fund has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Iaff Local 587 Health Ins Tr Fund with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $34.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 809.3%.
Frequently Asked Questions about Iaff Local 587 Health Ins Tr Fund
Is Iaff Local 587 Health Ins Tr Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Iaff Local 587 Health Ins Tr Fund (EIN: 827012034) insufficient data. 0 red flags identified, 0 strengths noted.
How does Iaff Local 587 Health Ins Tr Fund spend its money?
Detailed spending breakdown data is not yet available for Iaff Local 587 Health Ins Tr Fund. Check back for updated IRS 990 analysis.
Are donations to Iaff Local 587 Health Ins Tr Fund tax-deductible?
Iaff Local 587 Health Ins Tr Fund is registered as a tax-exempt nonprofit (EIN: 827012034). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Iaff Local 587 Health Ins Tr Fund showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2018–2023), Iaff Local 587 Health Ins Tr Fund's revenue has grown by 1800%, moving from $1.4M to $26.3M. Total assets increased by 1602.8% over the same period, from $1.3M to $22.8M. Total functional expenses rose by 121389.2%, from $50K to $60.3M. In its most recent filing year (2023), Iaff Local 587 Health Ins Tr Fund reported a deficit of $34.0M, with expenses exceeding revenue. The organization holds $184.4M in liabilities against $22.8M in assets (debt-to-asset ratio: 809.3%), resulting in net assets of $-161,600,538.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $26.3M | $60.3M | $22.8M | $184.4M | — | — |
| 2022 | $26.3M | $52.9M | $22.0M | $148.1M | — | View 990 |
| 2020 | $3.3M | $91.9M | $6.6M | $88.7M | — | View 990 |
| 2019 | $24.2M | $19.1M | $6.6M | $2K | — | — |
| 2018 | $1.4M | $50K | $1.3M | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $26.3M, expenses of $60.3M, and assets of $22.8M (revenue -0.1% year-over-year).
- 2022: Revenue of $26.3M, expenses of $52.9M, and assets of $22.0M (revenue +700.5% year-over-year).
- 2020: Revenue of $3.3M, expenses of $91.9M, and assets of $6.6M (revenue -86.4% year-over-year).
- 2019: Revenue of $24.2M, expenses of $19.1M, and assets of $6.6M (revenue +1646.2% year-over-year).
- 2018: Revenue of $1.4M, expenses of $50K, and assets of $1.3M.
Data Sources and Methodology
This transparency report for Iaff Local 587 Health Ins Tr Fund 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.