Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd
Iron Workers Local Union No 60 shows consistent asset growth and operates with a surplus, reporting no officer compensation.
EIN: 161500669 · Syracuse, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.2M |
| Total Expenses | $2.1M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $14 |
| Net Assets | $14.6M |
| Transparency Score | 75/100 |
Is Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd (EIN: 161500669) is a nonprofit organization based in Syracuse, NY. The organization reported total revenue of $4.2M and total assets of $17.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd is a mid-size nonprofit that has been operating for 30 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$1.1M |
| Total Assets | $14.9M |
| Total Liabilities | $272K |
| Net Assets | $14.6M |
| Operating Margin | 33.3% |
| Debt-to-Asset Ratio | 1.8% |
| Months of Reserves | 84.5 months |
Financial Health Grade: A
In 2023, Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd reported a surplus of $1.1M with revenue exceeding expenses, holds 84.5 months of operating reserves (strong position), has a debt-to-asset ratio of 1.8% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.5% | -20.5% | +12.5% |
| 2022 | -16.7% | +0.9% | -8.0% |
| 2021 | +8.2% | -8.2% | +28.8% |
| 2020 | +8.2% | +16.7% | +7.4% |
| 2019 | +12.6% | -10.0% | +12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd 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: 85%
- fundraising: 5%
According to IRS 990 filings, Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. 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 surplus of $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive compensation is either non-existent, covered by other entities, or not reported in this specific category, which is highly unusual for an organization of this size with assets exceeding $14 million.
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 Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) makes efficiency assessment difficult.
- Consistent 0% officer compensation is unusual for an organization of this size and could indicate a lack of transparency in reporting executive pay or an unusual operational structure.
Strengths
The following positive indicators were identified for Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd:
- Consistent revenue generation and positive net income, indicating financial stability.
- Significant and steady growth in assets, from $7.35 million in 2014 to $14.85 million in 2023, demonstrating strong financial health.
- Low liabilities relative to assets, indicating a strong balance sheet and low financial risk.
- Consistent operation with a surplus, allowing for asset accumulation and long-term sustainability.
Frequently Asked Questions about Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd
Is Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd a legitimate charity?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd (EIN: 161500669) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 12 years of IRS 990 filings on record. Total revenue: $4.2M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd spend its money?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd tax-deductible?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd is registered as a tax-exempt nonprofit (EIN: 161500669). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd CEO make?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's highest-compensated officer earns $14 annually. The organization reported $4.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's spending goes to programs?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd located?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd is headquartered in Syracuse, New York and files with the IRS under EIN 161500669.
How many years of IRS 990 filings does Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd have?
Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd has 12 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 $4.2M in total revenue.
How does Iron Workers Local Union No 60 manage to report 0% officer compensation consistently?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization with assets over $14 million. This could indicate that compensation for leadership roles is covered by a related entity, that the roles are purely voluntary, or that compensation is categorized differently within the expense structure not visible in the 'Officer Comp' line item.
What are the primary programs or benefits provided by this organization?
Based on the name 'Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd', it is highly probable that the organization provides supplemental benefits, welfare funds, and potentially training or retirement plans for its union members. The specific details of these programs are not available in the provided financial summary.
What is the organization's strategy for managing its growing assets?
The organization's assets have grown significantly from $7.35 million in 2014 to $14.85 million in 2023. This growth, coupled with consistent surpluses, suggests a strategy of prudent financial management and investment, likely aimed at ensuring long-term stability and the ability to meet future benefit obligations to its members.
Filing History
IRS 990 filing history for Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd's revenue has grown by 27.5%, moving from $2.5M to $3.2M. Total assets increased by 159.8% over the same period, from $5.7M to $14.9M. Total functional expenses rose by 11.3%, from $1.9M to $2.1M. In its most recent filing year (2023), Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $272K in liabilities against $14.9M in assets (debt-to-asset ratio: 1.8%), resulting in net assets of $14.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $2.1M | $14.9M | $272K | — | View 990 |
| 2022 | $3.4M | $2.7M | $13.2M | $174K | — | View 990 |
| 2021 | $4.1M | $2.6M | $14.3M | $89K | — | — |
| 2020 | $3.8M | $2.9M | $11.1M | $101K | — | — |
| 2019 | $3.5M | $2.5M | $10.4M | $28K | — | View 990 |
| 2018 | $3.1M | $2.7M | $9.2M | $0 | — | View 990 |
| 2017 | $3.6M | $3.0M | $8.5M | $2K | — | View 990 |
| 2016 | $2.6M | $2.0M | $7.9M | $5K | — | View 990 |
| 2015 | $2.5M | $2.3M | $7.4M | $7K | — | View 990 |
| 2014 | $2.6M | $2.7M | $7.4M | $12K | — | View 990 |
| 2013 | $2.9M | $2.3M | $6.7M | $9K | — | View 990 |
| 2012 | $2.5M | $1.9M | $5.7M | $17K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $2.1M, and assets of $14.9M (revenue -7.5% year-over-year).
- 2022: Revenue of $3.4M, expenses of $2.7M, and assets of $13.2M (revenue -16.7% year-over-year).
- 2021: Revenue of $4.1M, expenses of $2.6M, and assets of $14.3M (revenue +8.2% year-over-year).
- 2020: Revenue of $3.8M, expenses of $2.9M, and assets of $11.1M (revenue +8.2% year-over-year).
- 2019: Revenue of $3.5M, expenses of $2.5M, and assets of $10.4M (revenue +12.6% year-over-year).
- 2018: Revenue of $3.1M, expenses of $2.7M, and assets of $9.2M (revenue -13.0% year-over-year).
- 2017: Revenue of $3.6M, expenses of $3.0M, and assets of $8.5M (revenue +35.6% year-over-year).
- 2016: Revenue of $2.6M, expenses of $2.0M, and assets of $7.9M (revenue +4.6% year-over-year).
- 2015: Revenue of $2.5M, expenses of $2.3M, and assets of $7.4M (revenue -2.3% year-over-year).
- 2014: Revenue of $2.6M, expenses of $2.7M, and assets of $7.4M (revenue -9.7% year-over-year).
- 2013: Revenue of $2.9M, expenses of $2.3M, and assets of $6.7M (revenue +15.2% year-over-year).
- 2012: Revenue of $2.5M, expenses of $1.9M, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd:
Data Sources and Methodology
This transparency report for Iron Workers Local Union No 60 Supl Benefit Pl And Tr Wel Fd 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.