Iron Workers Locals 40 361 & 417 Welfare Fund
Iron Workers Welfare Fund consistently operates near break-even with substantial assets and no reported officer compensation.
EIN: 135622663 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $247.3M |
| Total Expenses | $110.8M |
| Program Spending | 99% |
| Net Assets | $183.6M |
| Transparency Score | 90/100 |
Is Iron Workers Locals 40 361 & 417 Welfare Fund Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iron Workers Locals 40 361 & 417 Welfare Fund directs 99% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iron Workers Locals 40 361 & 417 Welfare Fund
Iron Workers Locals 40 361 & 417 Welfare Fund (EIN: 135622663) is a nonprofit organization based in New York, NY. The organization reported total revenue of $247.3M and total assets of $208.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iron Workers Locals 40 361 & 417 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iron Workers Locals 40 361 & 417 Welfare Fund is a major nonprofit that has been operating for 77 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $112.1M |
| Total Expenses | $110.8M |
| Surplus / Deficit | +$1.2M |
| Total Assets | $215.3M |
| Total Liabilities | $31.7M |
| Net Assets | $183.6M |
| Operating Margin | 1.1% |
| Debt-to-Asset Ratio | 14.7% |
| Months of Reserves | 23.3 months |
Financial Health Grade: A
In 2023, Iron Workers Locals 40 361 & 417 Welfare Fund reported a surplus of $1.2M with revenue exceeding expenses, holds 23.3 months of operating reserves (strong position), has a debt-to-asset ratio of 14.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Iron Workers Locals 40 361 & 417 Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.6% | -7.1% | +3.8% |
| 2022 | -4.7% | -7.1% | -9.1% |
| 2021 | +0.9% | +9.3% | +1.5% |
| 2020 | -5.9% | -5.2% | +4.2% |
| 2019 | +0.9% | +0.6% | +11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1949 |
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 Locals 40 361 & 417 Welfare Fund with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 1%
- programs: 99%
- fundraising: 0%
According to IRS 990 filings, Iron Workers Locals 40 361 & 417 Welfare Fund allocates its expenses as follows: admin: 1%, programs: 99%, fundraising: 0%. With 99% 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 $1.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 14.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no direct compensation is paid to officers from the fund's operational budget, which is a strong positive for financial stewardship.
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.
Strengths
The following positive indicators were identified for Iron Workers Locals 40 361 & 417 Welfare Fund:
- Consistent near break-even operations, indicating efficient use of funds for its purpose.
- Strong asset base relative to liabilities, demonstrating financial solvency (e.g., $215M assets vs. $31M liabilities in 2023).
- No reported officer compensation, suggesting high transparency and dedication of funds to mission.
- Stable revenue and expense patterns over a decade, indicating predictable financial management.
Frequently Asked Questions about Iron Workers Locals 40 361 & 417 Welfare Fund
Is Iron Workers Locals 40 361 & 417 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Iron Workers Locals 40 361 & 417 Welfare Fund (EIN: 135622663) appears legitimate. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
How does Iron Workers Locals 40 361 & 417 Welfare Fund spend its money?
Iron Workers Locals 40 361 & 417 Welfare Fund directs 99% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Iron Workers Locals 40 361 & 417 Welfare Fund tax-deductible?
Iron Workers Locals 40 361 & 417 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 135622663). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Iron Workers Locals 40 361 & 417 Welfare Fund located?
Iron Workers Locals 40 361 & 417 Welfare Fund is headquartered in New York, New York and files with the IRS under EIN 135622663.
How many years of IRS 990 filings does Iron Workers Locals 40 361 & 417 Welfare Fund have?
Iron Workers Locals 40 361 & 417 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 $247.3M in total revenue.
Is Iron Workers Locals 40 361 & 417 Welfare Fund a good charity?
Based on the available IRS 990 data, the fund appears to be well-managed and financially sound. It consistently operates near break-even, indicating efficient use of funds for its intended purpose, and maintains a strong asset-to-liability ratio. The absence of reported officer compensation is a significant positive indicator of financial stewardship.
How does the fund manage its expenses relative to its revenue?
The fund consistently manages its expenses very closely to its revenue. For example, in 2023, revenue was $112,084,782 and expenses were $110,845,905, resulting in a small surplus. This pattern is consistent across multiple years, suggesting efficient financial management aimed at disbursing benefits rather than accumulating large reserves from operational income.
What is the financial stability of the organization?
The organization demonstrates strong financial stability. In 2023, its assets were $215,251,956, significantly higher than its liabilities of $31,673,254. This substantial asset base provides a robust buffer and ensures the fund's ability to meet its long-term obligations to its beneficiaries.
Filing History
IRS 990 filing history for Iron Workers Locals 40 361 & 417 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Iron Workers Locals 40 361 & 417 Welfare Fund's revenue has grown by 5.6%, moving from $106.1M to $112.1M. Total assets increased by 110.9% over the same period, from $102.0M to $215.3M. Total functional expenses rose by 29.6%, from $85.5M to $110.8M. In its most recent filing year (2023), Iron Workers Locals 40 361 & 417 Welfare Fund reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $31.7M in liabilities against $215.3M in assets (debt-to-asset ratio: 14.7%), resulting in net assets of $183.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $112.1M | $110.8M | $215.3M | $31.7M | — | — |
| 2022 | $120.0M | $119.3M | $207.4M | $34.5M | — | View 990 |
| 2021 | $125.9M | $128.4M | $228.3M | $34.6M | — | View 990 |
| 2020 | $124.8M | $117.5M | $224.9M | $30.6M | — | View 990 |
| 2019 | $132.7M | $124.0M | $215.8M | $30.8M | — | View 990 |
| 2018 | $131.5M | $123.2M | $194.2M | $29.6M | — | View 990 |
| 2017 | $134.1M | $121.1M | $191.6M | $29.7M | — | View 990 |
| 2016 | $146.6M | $121.9M | $180.4M | $33.1M | — | View 990 |
| 2015 | $115.6M | $98.4M | $149.0M | $28.3M | — | View 990 |
| 2014 | $79.1M | $74.2M | $125.4M | $19.0M | — | View 990 |
| 2013 | $80.4M | $77.4M | $120.8M | $17.8M | — | View 990 |
| 2012 | $101.1M | $85.1M | $114.8M | $17.5M | — | View 990 |
| 2011 | $106.1M | $85.5M | $102.0M | $21.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $112.1M, expenses of $110.8M, and assets of $215.3M (revenue -6.6% year-over-year).
- 2022: Revenue of $120.0M, expenses of $119.3M, and assets of $207.4M (revenue -4.7% year-over-year).
- 2021: Revenue of $125.9M, expenses of $128.4M, and assets of $228.3M (revenue +0.9% year-over-year).
- 2020: Revenue of $124.8M, expenses of $117.5M, and assets of $224.9M (revenue -5.9% year-over-year).
- 2019: Revenue of $132.7M, expenses of $124.0M, and assets of $215.8M (revenue +0.9% year-over-year).
- 2018: Revenue of $131.5M, expenses of $123.2M, and assets of $194.2M (revenue -2.0% year-over-year).
- 2017: Revenue of $134.1M, expenses of $121.1M, and assets of $191.6M (revenue -8.5% year-over-year).
- 2016: Revenue of $146.6M, expenses of $121.9M, and assets of $180.4M (revenue +26.9% year-over-year).
- 2015: Revenue of $115.6M, expenses of $98.4M, and assets of $149.0M (revenue +46.2% year-over-year).
- 2014: Revenue of $79.1M, expenses of $74.2M, and assets of $125.4M (revenue -1.7% year-over-year).
- 2013: Revenue of $80.4M, expenses of $77.4M, and assets of $120.8M (revenue -20.4% year-over-year).
- 2012: Revenue of $101.1M, expenses of $85.1M, and assets of $114.8M (revenue -4.8% year-over-year).
- 2011: Revenue of $106.1M, expenses of $85.5M, and assets of $102.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Iron Workers Locals 40 361 & 417 Welfare Fund:
Data Sources and Methodology
This transparency report for Iron Workers Locals 40 361 & 417 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.