Painting Industry Insurance Fund
Painting Industry Insurance Fund consistently maintains strong financial health with growing assets and no reported officer compensation.
EIN: 135600369 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $180.0M |
| Total Expenses | $120.8M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $174.2M |
| Transparency Score | 85/100 |
Is Painting Industry Insurance Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Painting Industry Insurance Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Painting Industry Insurance Fund
Painting Industry Insurance Fund (EIN: 135600369) is a nonprofit organization based in New York, NY. The organization reported total revenue of $180.0M and total assets of $194.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Painting Industry Insurance Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Painting Industry Insurance Fund is a major nonprofit that has been operating for 78 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $129.6M |
| Total Expenses | $120.8M |
| Surplus / Deficit | +$8.9M |
| Total Assets | $192.6M |
| Total Liabilities | $18.5M |
| Net Assets | $174.2M |
| Operating Margin | 6.8% |
| Debt-to-Asset Ratio | 9.6% |
| Months of Reserves | 19.1 months |
Financial Health Grade: A
In 2023, Painting Industry Insurance Fund reported a surplus of $8.9M with revenue exceeding expenses, holds 19.1 months of operating reserves (strong position), has a debt-to-asset ratio of 9.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Painting Industry Insurance Fund's revenue has grown at a compound annual growth rate (CAGR) of 5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.3% | +6.5% | +10.2% |
| 2022 | +1.1% | -5.4% | -5.0% |
| 2021 | +19.6% | +11.7% | +3.0% |
| 2020 | -18.8% | -5.8% | -3.1% |
| 2019 | +11.0% | +13.8% | +18.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1948 |
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 Painting Industry Insurance 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Painting Industry Insurance Fund allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 surplus of $8.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 9.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an entity of its size with revenues exceeding $100 million annually. This suggests either no compensation is paid to officers, or it is categorized differently within the 990, requiring deeper scrutiny for a complete understanding of executive remuneration.
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 Painting Industry Insurance Fund's IRS 990 filings:
- Consistent 0% officer compensation reported on 990s for a large organization, which warrants further investigation into compensation structures.
Strengths
The following positive indicators were identified for Painting Industry Insurance Fund:
- Consistent revenue growth, with revenue increasing from $84,259,148 in 2014 to $129,618,111 in 2023.
- Strong asset growth, from $123,319,401 in 2014 to $192,646,677 in 2023, indicating robust financial health.
- Positive net income in most recent years (e.g., $8,856,721 surplus in 2023), demonstrating effective financial management.
- Low liabilities relative to assets, indicating a strong balance sheet and low financial risk.
Frequently Asked Questions about Painting Industry Insurance Fund
Is Painting Industry Insurance Fund a legitimate charity?
Painting Industry Insurance Fund (EIN: 135600369) 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: $180.0M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Painting Industry Insurance Fund spend its money?
Painting Industry Insurance Fund directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Painting Industry Insurance Fund tax-deductible?
Painting Industry Insurance Fund is registered as a tax-exempt nonprofit (EIN: 135600369). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Painting Industry Insurance Fund CEO make?
Painting Industry Insurance Fund's highest-compensated officer earns $100 annually. The organization reported $180.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Painting Industry Insurance Fund's spending goes to programs?
Painting Industry Insurance Fund directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Painting Industry Insurance Fund located?
Painting Industry Insurance Fund is headquartered in New York, New York and files with the IRS under EIN 135600369.
How many years of IRS 990 filings does Painting Industry Insurance Fund have?
Painting Industry Insurance 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 $180.0M in total revenue.
How does the Painting Industry Insurance Fund manage to report 0% officer compensation despite its large scale?
The consistent reporting of 0% officer compensation on the 990 filings for an organization with over $100 million in annual revenue is highly unusual. This could indicate that officers are compensated through a related entity, are volunteers, or their compensation is reported under different expense categories not specifically identified as 'officer compensation' on the summary page of the 990. Further investigation into the detailed compensation schedules (Schedule J) would be necessary to understand this fully.
What is the primary purpose of the Painting Industry Insurance Fund, given its NTEE code is unknown?
Based on its name, 'Painting Industry Insurance Fund,' and its substantial financial activity, it is highly probable that the organization provides insurance benefits (such as health, pension, or other welfare benefits) to workers within the painting industry. This would align with its large revenue and expense figures, which are typical for benefit funds.
Is the organization financially stable given its asset and liability trends?
Yes, the organization appears financially stable. Its assets have consistently grown, from $123,319,401 in 2014 to $192,646,677 in 2023. Liabilities, while present, have remained a relatively small proportion of total assets (e.g., $18,485,612 in liabilities against $192,646,677 in assets in 2023), indicating a healthy balance sheet.
Filing History
IRS 990 filing history for Painting Industry Insurance Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Painting Industry Insurance Fund's revenue has grown by 80.4%, moving from $71.8M to $129.6M. Total assets increased by 68.9% over the same period, from $114.1M to $192.6M. Total functional expenses rose by 57.3%, from $76.8M to $120.8M. In its most recent filing year (2023), Painting Industry Insurance Fund reported a surplus of $8.9M, with revenue exceeding expenses. The organization holds $18.5M in liabilities against $192.6M in assets (debt-to-asset ratio: 9.6%), resulting in net assets of $174.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $129.6M | $120.8M | $192.6M | $18.5M | — | — |
| 2022 | $118.6M | $113.4M | $174.9M | $14.9M | — | View 990 |
| 2021 | $117.3M | $119.9M | $184.2M | $13.1M | — | View 990 |
| 2020 | $98.1M | $107.4M | $178.8M | $14.9M | — | View 990 |
| 2019 | $120.7M | $114.0M | $184.6M | $18.6M | — | — |
| 2018 | $108.7M | $100.1M | $156.4M | $14.9M | — | View 990 |
| 2017 | $100.8M | $95.8M | $151.4M | $15.8M | — | View 990 |
| 2016 | $98.4M | $95.5M | $139.0M | $16.0M | — | View 990 |
| 2015 | $90.1M | $83.4M | $131.7M | $16.4M | — | View 990 |
| 2014 | $84.3M | $84.5M | $123.3M | $16.1M | — | View 990 |
| 2013 | $83.2M | $79.0M | $120.6M | $17.6M | — | View 990 |
| 2012 | $71.6M | $76.1M | $112.5M | $17.5M | — | View 990 |
| 2011 | $71.8M | $76.8M | $114.1M | $18.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $129.6M, expenses of $120.8M, and assets of $192.6M (revenue +9.3% year-over-year).
- 2022: Revenue of $118.6M, expenses of $113.4M, and assets of $174.9M (revenue +1.1% year-over-year).
- 2021: Revenue of $117.3M, expenses of $119.9M, and assets of $184.2M (revenue +19.6% year-over-year).
- 2020: Revenue of $98.1M, expenses of $107.4M, and assets of $178.8M (revenue -18.8% year-over-year).
- 2019: Revenue of $120.7M, expenses of $114.0M, and assets of $184.6M (revenue +11.0% year-over-year).
- 2018: Revenue of $108.7M, expenses of $100.1M, and assets of $156.4M (revenue +7.9% year-over-year).
- 2017: Revenue of $100.8M, expenses of $95.8M, and assets of $151.4M (revenue +2.4% year-over-year).
- 2016: Revenue of $98.4M, expenses of $95.5M, and assets of $139.0M (revenue +9.2% year-over-year).
- 2015: Revenue of $90.1M, expenses of $83.4M, and assets of $131.7M (revenue +6.9% year-over-year).
- 2014: Revenue of $84.3M, expenses of $84.5M, and assets of $123.3M (revenue +1.3% year-over-year).
- 2013: Revenue of $83.2M, expenses of $79.0M, and assets of $120.6M (revenue +16.2% year-over-year).
- 2012: Revenue of $71.6M, expenses of $76.1M, and assets of $112.5M (revenue -0.3% year-over-year).
- 2011: Revenue of $71.8M, expenses of $76.8M, and assets of $114.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Painting Industry Insurance Fund:
Data Sources and Methodology
This transparency report for Painting Industry Insurance 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.