Iron Workers Locals 40 & 361 Topping Out Fund
Iron Workers Topping Out Fund maintains strong asset base despite recent operational deficit and reports zero officer compensation.
EIN: 133156507 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $216.9M |
| Total Expenses | $50.0M |
| Program Spending | 90% |
| Net Assets | $302.3M |
| Transparency Score | 85/100 |
Is Iron Workers Locals 40 & 361 Topping Out Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iron Workers Locals 40 & 361 Topping Out Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iron Workers Locals 40 & 361 Topping Out Fund
Iron Workers Locals 40 & 361 Topping Out Fund (EIN: 133156507) is a nonprofit organization based in New York, NY. The organization reported total revenue of $216.9M and total assets of $318.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iron Workers Locals 40 & 361 Topping Out 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 Topping Out Fund is a major nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $49.0M |
| Total Expenses | $50.0M |
| Surplus / Deficit | $-982,965 |
| Total Assets | $303.2M |
| Total Liabilities | $847K |
| Net Assets | $302.3M |
| Operating Margin | -2.0% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 72.7 months |
Financial Health Grade: B
In 2023, Iron Workers Locals 40 & 361 Topping Out Fund reported a deficit of $983K with expenses exceeding revenue, holds 72.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Iron Workers Locals 40 & 361 Topping Out Fund's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.2% | -0.2% | +4.3% |
| 2022 | +0.9% | +19.3% | -7.6% |
| 2021 | +2.6% | -4.7% | +8.4% |
| 2020 | -11.1% | +8.4% | +5.3% |
| 2019 | +3.9% | -6.5% | +16.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Topping Out Fund with a Mission Score of 85 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Iron Workers Locals 40 & 361 Topping Out Fund 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 $983K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is not compensated through the organization's operational funds, which is a strong positive 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 Iron Workers Locals 40 & 361 Topping Out Fund's IRS 990 filings:
- Slight operational deficit in the latest fiscal period (202312), with expenses exceeding revenue by nearly $1 million.
Strengths
The following positive indicators were identified for Iron Workers Locals 40 & 361 Topping Out Fund:
- Consistent reporting of 0% officer compensation across all filings, indicating efficient use of funds and strong governance.
- Substantial and growing asset base, increasing from $158 million in 2014 to over $300 million in 2023.
- Low liabilities relative to assets, demonstrating strong financial solvency.
- Consistent filing of IRS 990 forms over 13 periods, indicating good transparency practices.
Frequently Asked Questions about Iron Workers Locals 40 & 361 Topping Out Fund
Is Iron Workers Locals 40 & 361 Topping Out Fund a legitimate charity?
Iron Workers Locals 40 & 361 Topping Out Fund (EIN: 133156507) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $216.9M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Iron Workers Locals 40 & 361 Topping Out Fund spend its money?
Iron Workers Locals 40 & 361 Topping Out Fund directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Iron Workers Locals 40 & 361 Topping Out Fund tax-deductible?
Iron Workers Locals 40 & 361 Topping Out Fund is registered as a tax-exempt nonprofit (EIN: 133156507). 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 Topping Out Fund located?
Iron Workers Locals 40 & 361 Topping Out Fund is headquartered in New York, New York and files with the IRS under EIN 133156507.
How many years of IRS 990 filings does Iron Workers Locals 40 & 361 Topping Out Fund have?
Iron Workers Locals 40 & 361 Topping Out 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 $216.9M in total revenue.
Is Iron Workers Locals 40 & 361 Topping Out Fund financially stable?
Yes, the fund appears financially stable with substantial assets of $303,166,578 in 2023, significantly outweighing its liabilities of $847,137. While there was a slight operational deficit in 2023, the overall trend shows strong asset growth and consistent revenue generation.
How does the fund manage executive compensation?
The fund reports 0% officer compensation in all available IRS 990 filings, meaning no salaries are paid to officers from the organization's funds.
Has the organization's financial health improved over the last decade?
Yes, the organization's assets have nearly doubled from $158,839,798 in 2014 to $303,166,578 in 2023, indicating significant financial growth and improved health over the last decade.
Filing History
IRS 990 filing history for Iron Workers Locals 40 & 361 Topping Out Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Iron Workers Locals 40 & 361 Topping Out Fund's revenue has grown by 26.7%, moving from $38.7M to $49.0M. Total assets increased by 146% over the same period, from $123.2M to $303.2M. Total functional expenses rose by 129.2%, from $21.8M to $50.0M. In its most recent filing year (2023), Iron Workers Locals 40 & 361 Topping Out Fund reported a deficit of $983K, with expenses exceeding revenue. The organization holds $847K in liabilities against $303.2M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $302.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $49.0M | $50.0M | $303.2M | $847K | — | — |
| 2022 | $58.5M | $50.1M | $290.6M | $1.7M | — | View 990 |
| 2021 | $58.0M | $42.0M | $314.7M | $1.6M | — | View 990 |
| 2020 | $56.5M | $44.1M | $290.4M | $1.0M | — | View 990 |
| 2019 | $63.5M | $40.7M | $275.9M | $2.7M | — | View 990 |
| 2018 | $61.1M | $43.5M | $237.1M | $1.3M | — | View 990 |
| 2017 | $62.1M | $42.4M | $232.5M | $762K | — | View 990 |
| 2016 | $62.4M | $34.7M | $208.5M | $1.8M | — | View 990 |
| 2015 | $48.7M | $23.2M | $176.7M | $619K | — | View 990 |
| 2014 | $40.7M | $27.5M | $158.8M | $508K | — | View 990 |
| 2013 | $36.5M | $30.6M | $150.1M | $863K | — | View 990 |
| 2012 | $38.4M | $27.6M | $137.6M | $1.4M | — | View 990 |
| 2011 | $38.7M | $21.8M | $123.2M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $49.0M, expenses of $50.0M, and assets of $303.2M (revenue -16.2% year-over-year).
- 2022: Revenue of $58.5M, expenses of $50.1M, and assets of $290.6M (revenue +0.9% year-over-year).
- 2021: Revenue of $58.0M, expenses of $42.0M, and assets of $314.7M (revenue +2.6% year-over-year).
- 2020: Revenue of $56.5M, expenses of $44.1M, and assets of $290.4M (revenue -11.1% year-over-year).
- 2019: Revenue of $63.5M, expenses of $40.7M, and assets of $275.9M (revenue +3.9% year-over-year).
- 2018: Revenue of $61.1M, expenses of $43.5M, and assets of $237.1M (revenue -1.5% year-over-year).
- 2017: Revenue of $62.1M, expenses of $42.4M, and assets of $232.5M (revenue -0.5% year-over-year).
- 2016: Revenue of $62.4M, expenses of $34.7M, and assets of $208.5M (revenue +28.2% year-over-year).
- 2015: Revenue of $48.7M, expenses of $23.2M, and assets of $176.7M (revenue +19.5% year-over-year).
- 2014: Revenue of $40.7M, expenses of $27.5M, and assets of $158.8M (revenue +11.7% year-over-year).
- 2013: Revenue of $36.5M, expenses of $30.6M, and assets of $150.1M (revenue -5.0% year-over-year).
- 2012: Revenue of $38.4M, expenses of $27.6M, and assets of $137.6M (revenue -0.8% year-over-year).
- 2011: Revenue of $38.7M, expenses of $21.8M, and assets of $123.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Iron Workers Locals 40 & 361 Topping Out Fund:
Data Sources and Methodology
This transparency report for Iron Workers Locals 40 & 361 Topping Out 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.