National Spinning Co Inc Welfare Benefit Trust
National Spinning Co Inc Welfare Benefit Trust operates as a pass-through entity with revenue closely matching expenses and no reported assets or liabilities in recent filings.
EIN: 133536511 · Washington, NC · Updated: 2026-03-28
Is National Spinning Co Inc Welfare Benefit Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
National Spinning Co Inc Welfare Benefit Trust directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About National Spinning Co Inc Welfare Benefit Trust
National Spinning Co Inc Welfare Benefit Trust (EIN: 133536511) is a nonprofit organization based in Washington, NC. 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 National Spinning Co Inc Welfare Benefit Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
National Spinning Co Inc Welfare Benefit Trust 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 4.1%.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.6M |
| Total Expenses | $4.8M |
| Surplus / Deficit | $-263,000 |
| Total Assets | $0 |
| Net Assets | $0 |
| Operating Margin | -5.7% |
| Months of Reserves | 0.0 months |
Financial Health Grade: C
In 2014, National Spinning Co Inc Welfare Benefit Trust reported a deficit of $263K with expenses exceeding revenue, holds 0.0 months of operating reserves (limited).
Financial Trends
Over 4 years of filings (2011–2014), National Spinning Co Inc Welfare Benefit Trust's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2014 | +7.4% | +13.7% | -100.0% |
| 2013 | +20.0% | +15.3% | +1.9% |
| 2012 | -12.4% | -6.6% | -35.0% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates National Spinning Co Inc Welfare Benefit Trust 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, National Spinning Co Inc Welfare Benefit Trust allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 deficit of $263K, with expenses exceeding revenue.
Executive Compensation Analysis
No officer compensation has been reported across all available filings (2011-2014), indicating that executive pay is not a significant expense for this organization, or that it is managed through a different structure.
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 National Spinning Co Inc Welfare Benefit Trust's IRS 990 filings:
- Consistent $0 assets and liabilities in recent filings, which is unusual for a trust holding funds.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, limiting efficiency analysis.
Strengths
The following positive indicators were identified for National Spinning Co Inc Welfare Benefit Trust:
- No reported officer compensation, indicating efficient use of funds regarding executive pay.
- Revenue consistently aligns closely with expenses, suggesting direct pass-through of funds for its intended purpose.
Frequently Asked Questions about National Spinning Co Inc Welfare Benefit Trust
Is National Spinning Co Inc Welfare Benefit Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, National Spinning Co Inc Welfare Benefit Trust (EIN: 133536511) some concerns. Mission Score: 85/100. 2 red flags identified, 2 strengths noted.
How does National Spinning Co Inc Welfare Benefit Trust spend its money?
National Spinning Co Inc Welfare Benefit Trust directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to National Spinning Co Inc Welfare Benefit Trust tax-deductible?
National Spinning Co Inc Welfare Benefit Trust is registered as a tax-exempt nonprofit (EIN: 133536511). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What specific welfare benefits does the trust provide?
The provided data does not specify the exact welfare benefits, only that it operates as a 'Welfare Benefit Trust'.
Why are assets and liabilities consistently reported as $0 in recent filings?
The consistent reporting of $0 assets and liabilities, especially in 2014, suggests that funds received are immediately disbursed for benefits, or that assets are held by a separate entity not reflected on these specific 990s.
How does the trust manage its slight deficits, such as the $263,000 deficit in 2014?
The data shows a deficit of $263,000 in 2014 (Expenses $4,845,005 - Revenue $4,582,005). The mechanism for covering such deficits is not detailed in the provided information.
Filing History
IRS 990 filing history for National Spinning Co Inc Welfare Benefit Trust showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2014), National Spinning Co Inc Welfare Benefit Trust's revenue has grown by 12.9%, moving from $4.1M to $4.6M. Total assets decreased by 100% over the same period, from $397K to $0. Total functional expenses rose by 22.4%, from $4.0M to $4.8M. In its most recent filing year (2014), National Spinning Co Inc Welfare Benefit Trust reported a deficit of $263K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2014 | $4.6M | $4.8M | $0 | $0 | — | View 990 |
| 2013 | $4.3M | $4.3M | $263K | $0 | — | View 990 |
| 2012 | $3.6M | $3.7M | $258K | $0 | — | View 990 |
| 2011 | $4.1M | $4.0M | $397K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2014: Revenue of $4.6M, expenses of $4.8M, and assets of $0 (revenue +7.4% year-over-year).
- 2013: Revenue of $4.3M, expenses of $4.3M, and assets of $263K (revenue +20.0% year-over-year).
- 2012: Revenue of $3.6M, expenses of $3.7M, and assets of $258K (revenue -12.4% year-over-year).
- 2011: Revenue of $4.1M, expenses of $4.0M, and assets of $397K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for National Spinning Co Inc Welfare Benefit Trust:
Data Sources and Methodology
This transparency report for National Spinning Co Inc Welfare Benefit Trust 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.