Industry & Local 338 Welfare Fund
Industry & Local 338 Welfare Fund consistently operates with expenses often exceeding revenue, maintaining stable assets and no officer compensation.
EIN: 131818220 · Sparks, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.1M |
| Total Expenses | $2.5M |
| Program Spending | 85% |
| Net Assets | $6.7M |
| Transparency Score | 70/100 |
Search Intent Cockpit
Industry & Local 338 Welfare Fund Form 990, Revenue, CEO Pay, and IRS Filing Signals
Industry & Local 338 Welfare Fund is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Industry & Local 338 Welfare Fund in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $2.1M and expenses of $2.5M.
Revenue and Expenses
Industry & Local 338 Welfare Fund reported $2.1M in revenue and $2.5M in expenses, a deficit of $465K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
70/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Industry & Local 338 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.2M (85%) |
Across stored filings, Industry & Local 338 Welfare Fund shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 85% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Main Street Mobile Treatment Associates Inc | Maryland and category context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
Compare against real state and category peers.
Compare with Main Street Mobile Treatment Associates Inc →All Maryland nonprofits
Local and Sector Spokes
Move into this nonprofit's local market, category, and sector maps.
Sparks, MD nonprofitsFollow the Money
Jump into spending, compensation, rankings, and filing-year evidence.
State spending analysisState compensation analysis
Relevant rankings
Donation Decision Flow
From Trust Check to Better Alternatives
Alternative Shopping
Similar Nonprofits Donors Should Compare
Catoctin Land Trust Inc
Frederick, MD · $415K revenue · Score 95/100
Compare side-by-sideUnited States War Dogs Association Inc
Towson, MD · $754K revenue · Score 90/100
Compare side-by-sideRescuegroups Org Inc
Odenton, MD · $132K revenue · Score 90/100
Compare side-by-sideCelestial Manna Inc
Derwood, MD · $1.4M revenue · Score 85/100
Compare side-by-sideNext Best Actions
Keep the Investigation Moving
Research Workflow
Turn this Form 990 profile into a donor-ready report
Request a concise report for Industry & Local 338 Welfare Fund with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.
Early access request only. Reports and exports are informational and based on public IRS records, not financial or legal advice.
Industry & Local 338 Welfare Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Industry & Local 338 Welfare Fund
Industry & Local 338 Welfare Fund (EIN: 131818220) is a nonprofit organization based in Sparks, MD. The organization reported total revenue of $6.1M and total assets of $6.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Industry & Local 338 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Industry & Local 338 Welfare Fund is a mid-size nonprofit that has been operating for 73 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.5M |
| Surplus / Deficit | $-465,431 |
| Total Assets | $7.2M |
| Total Liabilities | $482K |
| Net Assets | $6.7M |
| Operating Margin | -22.5% |
| Debt-to-Asset Ratio | 6.7% |
| Months of Reserves | 34.2 months |
Financial Health Grade: B
In 2023, Industry & Local 338 Welfare Fund reported a deficit of $465K with expenses exceeding revenue, holds 34.2 months of operating reserves (strong position), has a debt-to-asset ratio of 6.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Industry & Local 338 Welfare Fund's revenue has declined at a compound annual growth rate (CAGR) of -7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.0% | +5.9% | -1.9% |
| 2022 | +0.9% | -4.7% | -14.4% |
| 2021 | +7.9% | +1.3% | +1.4% |
| 2020 | -16.8% | -1.7% | -1.9% |
| 2019 | +4.2% | -9.2% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1953 |
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 Industry & Local 338 Welfare Fund with a Mission Score of 70 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: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, Industry & Local 338 Welfare Fund allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% 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 $465K, with expenses exceeding revenue.
- Debt-to-asset ratio: 6.7%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that officers are not compensated financially by the organization, which is a positive sign for resource allocation.
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 Industry & Local 338 Welfare Fund's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023, 2022, 2021 expenses exceeded revenue)
- NTEE code is unknown, hindering comparative analysis
- Lack of detailed functional expense breakdown in provided data
Strengths
The following positive indicators were identified for Industry & Local 338 Welfare Fund:
- Consistent 0% officer compensation, indicating efficient use of funds for mission-related activities
- Stable asset base (around $7-8 million) providing financial resilience
- Long filing history (13 filings) suggests consistent compliance and operational longevity
Frequently Asked Questions about Industry & Local 338 Welfare Fund
Is Industry & Local 338 Welfare Fund a legitimate charity?
Industry & Local 338 Welfare Fund (EIN: 131818220) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Industry & Local 338 Welfare Fund spend its money?
Industry & Local 338 Welfare Fund directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Industry & Local 338 Welfare Fund tax-deductible?
Industry & Local 338 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 131818220). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Industry & Local 338 Welfare Fund located?
Industry & Local 338 Welfare Fund is headquartered in Sparks, Maryland and files with the IRS under EIN 131818220.
How many years of IRS 990 filings does Industry & Local 338 Welfare Fund have?
Industry & Local 338 Welfare Fund 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 $6.1M in total revenue.
What is the primary purpose of the Industry & Local 338 Welfare Fund?
Based on the name 'Welfare Fund' and the financial data, it likely provides benefits or services to members of Industry & Local 338, but specific program details are not available in the provided data.
Why do expenses frequently exceed revenue for this organization?
Expenses have exceeded revenue in several recent periods (e.g., 2023, 2022, 2021). This could be due to planned spending from reserves, fluctuations in investment income, or increased benefit payouts, but without more detailed financial statements, the exact reasons are unclear.
How does the organization sustain itself with recurring deficits?
Despite periodic deficits, the organization maintains substantial assets (e.g., $7,218,047 in 2023), suggesting it draws from reserves or has other income streams not fully captured in the 'Revenue' line item, or that these deficits are managed within a larger financial strategy.
What are the administrative costs given the 0% officer compensation?
While officer compensation is 0%, administrative costs would still include expenses like office rent, utilities, professional fees, and non-officer staff salaries. Without a functional expense breakdown, the exact administrative ratio is an estimate.
Filing History
IRS 990 filing history for Industry & Local 338 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Industry & Local 338 Welfare Fund's revenue has declined by 59%, moving from $5.0M to $2.1M. Total assets increased by 86.4% over the same period, from $3.9M to $7.2M. Total functional expenses fell by 53.9%, from $5.5M to $2.5M. In its most recent filing year (2023), Industry & Local 338 Welfare Fund reported a deficit of $465K, with expenses exceeding revenue. The organization holds $482K in liabilities against $7.2M in assets (debt-to-asset ratio: 6.7%), resulting in net assets of $6.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.5M | $7.2M | $482K | — | View 990 |
| 2022 | $2.3M | $2.4M | $7.4M | $346K | — | View 990 |
| 2021 | $2.3M | $2.5M | $8.6M | $425K | — | View 990 |
| 2020 | $2.2M | $2.5M | $8.5M | $492K | — | — |
| 2019 | $2.6M | $2.5M | $8.6M | $389K | — | View 990 |
| 2018 | $2.5M | $2.8M | $8.5M | $408K | — | View 990 |
| 2017 | $2.5M | $1.8M | $8.8M | $356K | — | View 990 |
| 2016 | $2.5M | $1.6M | $8.0M | $387K | — | View 990 |
| 2015 | $3.7M | $2.3M | $7.1M | $499K | — | View 990 |
| 2014 | $4.9M | $3.5M | $6.4M | $1.1M | — | View 990 |
| 2013 | $5.1M | $4.2M | $5.1M | $1.3M | — | View 990 |
| 2012 | $5.6M | $5.6M | $4.1M | $1.1M | — | View 990 |
| 2011 | $5.0M | $5.5M | $3.9M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.5M, and assets of $7.2M (revenue -12.0% year-over-year).
- 2022: Revenue of $2.3M, expenses of $2.4M, and assets of $7.4M (revenue +0.9% year-over-year).
- 2021: Revenue of $2.3M, expenses of $2.5M, and assets of $8.6M (revenue +7.9% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.5M, and assets of $8.5M (revenue -16.8% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.5M, and assets of $8.6M (revenue +4.2% year-over-year).
- 2018: Revenue of $2.5M, expenses of $2.8M, and assets of $8.5M (revenue -2.3% year-over-year).
- 2017: Revenue of $2.5M, expenses of $1.8M, and assets of $8.8M (revenue +0.8% year-over-year).
- 2016: Revenue of $2.5M, expenses of $1.6M, and assets of $8.0M (revenue -32.1% year-over-year).
- 2015: Revenue of $3.7M, expenses of $2.3M, and assets of $7.1M (revenue -23.7% year-over-year).
- 2014: Revenue of $4.9M, expenses of $3.5M, and assets of $6.4M (revenue -4.8% year-over-year).
- 2013: Revenue of $5.1M, expenses of $4.2M, and assets of $5.1M (revenue -9.3% year-over-year).
- 2012: Revenue of $5.6M, expenses of $5.6M, and assets of $4.1M (revenue +12.0% year-over-year).
- 2011: Revenue of $5.0M, expenses of $5.5M, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Industry & Local 338 Welfare Fund:
Data Sources and Methodology
This transparency report for Industry & Local 338 Welfare 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.