Local 584 Welfare Trust Fund
Local 584 Welfare Trust Fund shows fluctuating financial performance with recent positive net income after several years of deficit spending.
EIN: 131611276 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $6.2M |
| Program Spending | 90% |
| Net Assets | $505K |
| Transparency Score | 75/100 |
Is Local 584 Welfare Trust Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 584 Welfare Trust Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 584 Welfare Trust Fund
Local 584 Welfare Trust Fund (EIN: 131611276) is a nonprofit organization based in New York, NY. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 584 Welfare Trust Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 584 Welfare Trust Fund is a mid-size nonprofit, with 4 years of IRS 990 filings on record (2011–2014). Revenue has grown at a compound annual rate of -7.8%.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.5M |
| Total Expenses | $6.2M |
| Surplus / Deficit | +$316K |
| Total Assets | $796K |
| Total Liabilities | $291K |
| Net Assets | $505K |
| Operating Margin | 4.8% |
| Debt-to-Asset Ratio | 36.6% |
| Months of Reserves | 1.5 months |
Financial Health Grade: A
In 2014, Local 584 Welfare Trust Fund reported a surplus of $316K with revenue exceeding expenses, holds 1.5 months of operating reserves (limited), has a debt-to-asset ratio of 36.6% (moderate leverage).
Financial Trends
Over 4 years of filings (2011–2014), Local 584 Welfare Trust Fund's revenue has declined at a compound annual growth rate (CAGR) of -7.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2014 | -11.5% | -27.1% | +9.5% |
| 2013 | -9.8% | -7.2% | -51.2% |
| 2012 | -1.9% | +4.8% | -40.6% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Local 584 Welfare Trust Fund 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Local 584 Welfare Trust Fund allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $316K, with revenue exceeding expenses.
- Debt-to-asset ratio: 36.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating either no paid officers or that compensation is handled through other mechanisms not reported in this section, which is a positive sign for resource allocation directly to the trust's purpose.
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 Local 584 Welfare Trust Fund's IRS 990 filings:
- Consistent deficit spending in multiple years (2011-2013)
- Significant decline in total assets over the filing period (from $2,504,674 in 2011 to $796,207 in 2014)
Strengths
The following positive indicators were identified for Local 584 Welfare Trust Fund:
- Positive net income reported in the latest filing (2014)
- No reported officer compensation, suggesting efficient use of funds for its stated purpose
- Relatively low liabilities compared to assets in the latest filing ($291,108 liabilities vs. $796,207 assets in 2014)
Frequently Asked Questions about Local 584 Welfare Trust Fund
Is Local 584 Welfare Trust Fund a legitimate charity?
Local 584 Welfare Trust Fund (EIN: 131611276) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 4 years of IRS 990 filings on record. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Local 584 Welfare Trust Fund spend its money?
Local 584 Welfare Trust Fund directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Local 584 Welfare Trust Fund tax-deductible?
Local 584 Welfare Trust Fund is registered as a tax-exempt nonprofit (EIN: 131611276). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Local 584 Welfare Trust Fund's spending goes to programs?
Local 584 Welfare Trust Fund directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Local 584 Welfare Trust Fund located?
Local 584 Welfare Trust Fund is headquartered in New York, New York and files with the IRS under EIN 131611276.
How many years of IRS 990 filings does Local 584 Welfare Trust Fund have?
Local 584 Welfare Trust Fund has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
Is Local 584 Welfare Trust Fund financially stable?
While the 2014 filing shows a positive net income, the preceding three years (2011-2013) reported expenses exceeding revenues, suggesting a fluctuating financial stability. The decline in assets from $2,504,674 in 2011 to $796,207 in 2014 also warrants attention.
What caused the significant decrease in assets from 2011 to 2014?
The filings indicate a decrease in assets from $2,504,674 in 2011 to $796,207 in 2014. This could be due to several factors, including investment losses, significant payouts, or using reserves to cover operational deficits in years where expenses exceeded revenue (e.g., 2011-2013).
How does the organization cover its expenses when revenue is lower?
In periods like 2011-2013, where expenses exceeded revenue (e.g., $8,538,573 expenses vs. $7,382,698 revenue in 2013), the organization likely drew upon its accumulated assets or reserves to cover the shortfall.
Filing History
IRS 990 filing history for Local 584 Welfare Trust Fund showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2014), Local 584 Welfare Trust Fund's revenue has declined by 21.6%, moving from $8.3M to $6.5M. Total assets decreased by 68.2% over the same period, from $2.5M to $796K. Total functional expenses fell by 29.2%, from $8.8M to $6.2M. In its most recent filing year (2014), Local 584 Welfare Trust Fund reported a surplus of $316K, with revenue exceeding expenses. The organization holds $291K in liabilities against $796K in assets (debt-to-asset ratio: 36.6%), resulting in net assets of $505K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2014 | $6.5M | $6.2M | $796K | $291K | — | View 990 |
| 2013 | $7.4M | $8.5M | $727K | $538K | — | View 990 |
| 2012 | $8.2M | $9.2M | $1.5M | $143K | — | View 990 |
| 2011 | $8.3M | $8.8M | $2.5M | $140K | — | View 990 |
Year-by-Year Financial Summary
- 2014: Revenue of $6.5M, expenses of $6.2M, and assets of $796K (revenue -11.5% year-over-year).
- 2013: Revenue of $7.4M, expenses of $8.5M, and assets of $727K (revenue -9.8% year-over-year).
- 2012: Revenue of $8.2M, expenses of $9.2M, and assets of $1.5M (revenue -1.9% year-over-year).
- 2011: Revenue of $8.3M, expenses of $8.8M, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 584 Welfare Trust Fund:
Data Sources and Methodology
This transparency report for Local 584 Welfare Trust 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.