Local 580 Vacation Fund
Local 580 Vacation Fund consistently manages tens of millions in revenue and expenses with no reported officer compensation.
EIN: 132874176 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $54.0M |
| Total Expenses | $33.7M |
| Program Spending | 95% |
| Net Assets | $25.6M |
| Transparency Score | 90/100 |
Is Local 580 Vacation Fund Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 580 Vacation Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 580 Vacation Fund
Local 580 Vacation Fund (EIN: 132874176) is a nonprofit organization based in New York, NY. The organization reported total revenue of $54.0M and total assets of $25.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 580 Vacation Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 580 Vacation Fund is a major nonprofit that has been operating for 60 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $32.9M |
| Total Expenses | $33.7M |
| Surplus / Deficit | $-786,011 |
| Total Assets | $27.0M |
| Total Liabilities | $1.3M |
| Net Assets | $25.6M |
| Operating Margin | -2.4% |
| Debt-to-Asset Ratio | 5.0% |
| Months of Reserves | 9.6 months |
Financial Health Grade: B
In 2023, Local 580 Vacation Fund reported a deficit of $786K with expenses exceeding revenue, holds 9.6 months of operating reserves (strong position), has a debt-to-asset ratio of 5.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Local 580 Vacation Fund's revenue has grown at a compound annual growth rate (CAGR) of 5.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.1% | -8.2% | +2.3% |
| 2022 | -13.6% | +3.6% | -12.0% |
| 2021 | +14.1% | -15.3% | +16.3% |
| 2020 | -24.3% | -18.5% | -21.5% |
| 2019 | -9.5% | +9.9% | -14.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1966 |
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 Local 580 Vacation 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Local 580 Vacation Fund allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $786K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive compensation from the organization, which is a strong positive for financial transparency and mission focus.
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 Local 580 Vacation Fund:
- No reported officer compensation across all filings, indicating strong financial transparency and mission focus.
- Consistent management of tens of millions in revenue and expenses over a decade, demonstrating stability.
- Low liabilities relative to assets, suggesting sound financial management and minimal debt.
- Significant asset base (e.g., $26,961,967 in 2023) providing financial stability and capacity.
Frequently Asked Questions about Local 580 Vacation Fund
Is Local 580 Vacation Fund a legitimate charity?
Local 580 Vacation Fund (EIN: 132874176) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $54.0M. No red flags identified. 4 strengths noted. Financial health grade: B.
How does Local 580 Vacation Fund spend its money?
Local 580 Vacation Fund directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Local 580 Vacation Fund tax-deductible?
Local 580 Vacation Fund is registered as a tax-exempt nonprofit (EIN: 132874176). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Local 580 Vacation Fund located?
Local 580 Vacation Fund is headquartered in New York, New York and files with the IRS under EIN 132874176.
How many years of IRS 990 filings does Local 580 Vacation Fund have?
Local 580 Vacation 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 $54.0M in total revenue.
Is Local 580 Vacation Fund a good charity?
Based on the provided financial data, the Local 580 Vacation Fund appears to be a well-managed and financially sound organization. It consistently handles tens of millions in revenue and expenses, maintains healthy asset levels, and reports no officer compensation, which are all positive indicators.
How does the organization manage its liabilities?
The organization consistently maintains low liabilities relative to its assets. For example, in 2023, liabilities were $1,339,918 against assets of $26,961,967, indicating strong financial control and minimal debt burden.
What is the trend in the organization's revenue and expenses?
Over the past decade, the organization has seen fluctuations in revenue and expenses, generally ranging from $27 million to over $50 million annually. While there are year-to-year variations, the overall trend shows a large, active fund with consistent financial activity.
Filing History
IRS 990 filing history for Local 580 Vacation Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Local 580 Vacation Fund's revenue has grown by 90.9%, moving from $17.3M to $32.9M. Total assets increased by 115.3% over the same period, from $12.5M to $27.0M. Total functional expenses rose by 124.5%, from $15.0M to $33.7M. In its most recent filing year (2023), Local 580 Vacation Fund reported a deficit of $786K, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $27.0M in assets (debt-to-asset ratio: 5.0%), resulting in net assets of $25.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $32.9M | $33.7M | $27.0M | $1.3M | — | — |
| 2022 | $34.3M | $36.7M | $26.4M | $25K | — | — |
| 2021 | $39.8M | $35.5M | $30.0M | $1.3M | — | View 990 |
| 2020 | $34.9M | $41.8M | $25.8M | $1.4M | — | View 990 |
| 2019 | $46.0M | $51.3M | $32.8M | $1.5M | — | — |
| 2018 | $50.9M | $46.7M | $38.3M | $1.6M | — | View 990 |
| 2017 | $44.9M | $40.1M | $34.0M | $1.5M | — | — |
| 2016 | $39.3M | $34.4M | $29.2M | $1.5M | — | View 990 |
| 2015 | $32.2M | $28.9M | $24.3M | $1.4M | — | View 990 |
| 2014 | $27.9M | $26.2M | $21.0M | $1.4M | — | View 990 |
| 2013 | $26.0M | $22.6M | $19.3M | $1.4M | — | View 990 |
| 2012 | $21.4M | $18.1M | $16.0M | $1.5M | — | View 990 |
| 2011 | $17.3M | $15.0M | $12.5M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $32.9M, expenses of $33.7M, and assets of $27.0M (revenue -4.1% year-over-year).
- 2022: Revenue of $34.3M, expenses of $36.7M, and assets of $26.4M (revenue -13.6% year-over-year).
- 2021: Revenue of $39.8M, expenses of $35.5M, and assets of $30.0M (revenue +14.1% year-over-year).
- 2020: Revenue of $34.9M, expenses of $41.8M, and assets of $25.8M (revenue -24.3% year-over-year).
- 2019: Revenue of $46.0M, expenses of $51.3M, and assets of $32.8M (revenue -9.5% year-over-year).
- 2018: Revenue of $50.9M, expenses of $46.7M, and assets of $38.3M (revenue +13.2% year-over-year).
- 2017: Revenue of $44.9M, expenses of $40.1M, and assets of $34.0M (revenue +14.5% year-over-year).
- 2016: Revenue of $39.3M, expenses of $34.4M, and assets of $29.2M (revenue +22.1% year-over-year).
- 2015: Revenue of $32.2M, expenses of $28.9M, and assets of $24.3M (revenue +15.3% year-over-year).
- 2014: Revenue of $27.9M, expenses of $26.2M, and assets of $21.0M (revenue +7.3% year-over-year).
- 2013: Revenue of $26.0M, expenses of $22.6M, and assets of $19.3M (revenue +21.5% year-over-year).
- 2012: Revenue of $21.4M, expenses of $18.1M, and assets of $16.0M (revenue +24.0% year-over-year).
- 2011: Revenue of $17.3M, expenses of $15.0M, and assets of $12.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 580 Vacation Fund:
Data Sources and Methodology
This transparency report for Local 580 Vacation 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.