Plumbers 112 Welfare Plan

Plumbers 112 Welfare Plan shows consistent asset growth and no officer compensation over the past decade.

EIN: 166053348 · Binghamton, NY · Updated: 2026-03-28

$13.1MRevenue

$14.7MAssets

90/100Mission Score (Excellent)

About Plumbers 112 Welfare Plan

Plumbers 112 Welfare Plan (EIN: 166053348) is a nonprofit organization based in Binghamton, NY. The organization reported total revenue of $13.1M and total assets of $14.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Plumbers 112 Welfare Plan's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Plumbers 112 Welfare Plan demonstrates consistent financial growth and appears to be fiscally sound. Over the past five years, its assets have grown from $8,227,787 in 2019 to $13,766,152 in 2023, indicating effective asset management. The organization consistently reports zero officer compensation, which is a significant positive indicator for transparency and efficient use of funds, suggesting that administrative costs are kept low and resources are directed towards the plan's beneficiaries. The plan consistently operates with a surplus, as seen in 2023 where revenue of $9,212,512 exceeded expenses of $8,120,985, further strengthening its financial health.

Given its nature as a welfare plan, the majority of its expenses are inherently programmatic, directly benefiting its members. The consistent growth in revenue and assets, coupled with low liabilities relative to assets (e.g., $300,276 in liabilities against $13,766,152 in assets in 2023), suggests a well-managed and stable financial operation. The absence of officer compensation is a strong positive for transparency, as it removes a common area of concern for excessive spending in non-profits. Overall, the Plumbers 112 Welfare Plan appears to be a financially healthy and efficiently managed organization, effectively serving its purpose.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Plumbers 112 Welfare Plan 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, Plumbers 112 Welfare Plan 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to officers, which is highly unusual for an organization of this size and suggests a volunteer-led or externally managed structure for leadership.

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 Plumbers 112 Welfare Plan's IRS 990 filings:

NTEE Code is unknown, which can make it difficult to benchmark against similar organizations.

Strengths

The following positive indicators were identified for Plumbers 112 Welfare Plan:

Consistent asset growth, increasing from $8,227,787 in 2019 to $13,766,152 in 2023.
Zero officer compensation reported across all available filings, indicating high efficiency and transparency.
Consistently operating with a surplus, such as $1,091,527 in 2023 (Revenue $9,212,512 - Expenses $8,120,985).
Low liabilities relative to assets, demonstrating strong financial stability (e.g., $300,276 liabilities vs. $13,766,152 assets in 2023).

Frequently Asked Questions about Plumbers 112 Welfare Plan

Is Plumbers 112 Welfare Plan a good charity?

Based on the financial data, the Plumbers 112 Welfare Plan appears to be a very well-managed and efficient organization. It consistently reports zero officer compensation, maintains healthy asset growth, and operates with a surplus, indicating strong financial stewardship.

How does Plumbers 112 Welfare Plan manage its administrative costs?

The organization's administrative costs appear to be very low, especially given the consistent reporting of 0% officer compensation. This suggests a highly efficient operation where resources are primarily directed towards the welfare plan's core purpose.

What is the trend in the organization's financial health?

The Plumbers 112 Welfare Plan shows a strong positive trend in financial health, with assets growing from $8,227,787 in 2019 to $13,766,152 in 2023, and consistent revenue growth over the past several years.

Filing History

IRS 990 filing history for Plumbers 112 Welfare Plan showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Plumbers 112 Welfare Plan's revenue has grown by 48.8%, moving from $6.2M to $9.2M. Total assets increased by 143.2% over the same period, from $5.7M to $13.8M. Total functional expenses rose by 63.9%, from $5.0M to $8.1M. In its most recent filing year (2023), Plumbers 112 Welfare Plan reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $300K in liabilities against $13.8M in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $13.5M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$9.2M	$8.1M	$13.8M	$300K	—	—
2022	$8.8M	$7.3M	$12.0M	$195K	—	View 990
2021	$8.9M	$7.4M	$12.1M	$680K	—	View 990
2020	$7.6M	$6.2M	$10.0M	$63K	—	—
2019	$7.8M	$6.4M	$8.2M	$71K	—	View 990
2018	$7.6M	$5.8M	$6.6M	$104K	—	View 990
2017	$7.3M	$6.9M	$4.9M	$62K	—	—
2016	$6.4M	$8.6M	$4.4M	$70K	—	View 990
2015	$6.3M	$6.0M	$6.6M	$78K	—	View 990
2014	$7.0M	$7.5M	$6.5M	$99K	—	View 990
2013	$6.7M	$6.4M	$6.9M	$96K	—	View 990
2012	$6.3M	$5.4M	$6.6M	$86K	—	View 990
2011	$6.2M	$5.0M	$5.7M	$88K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $9.2M, expenses of $8.1M, and assets of $13.8M (revenue +5.0% year-over-year).
2022: Revenue of $8.8M, expenses of $7.3M, and assets of $12.0M (revenue -1.8% year-over-year).
2021: Revenue of $8.9M, expenses of $7.4M, and assets of $12.1M (revenue +18.0% year-over-year).
2020: Revenue of $7.6M, expenses of $6.2M, and assets of $10.0M (revenue -2.6% year-over-year).
2019: Revenue of $7.8M, expenses of $6.4M, and assets of $8.2M (revenue +2.6% year-over-year).
2018: Revenue of $7.6M, expenses of $5.8M, and assets of $6.6M (revenue +3.6% year-over-year).
2017: Revenue of $7.3M, expenses of $6.9M, and assets of $4.9M (revenue +14.1% year-over-year).
2016: Revenue of $6.4M, expenses of $8.6M, and assets of $4.4M (revenue +1.5% year-over-year).
2015: Revenue of $6.3M, expenses of $6.0M, and assets of $6.6M (revenue -9.9% year-over-year).
2014: Revenue of $7.0M, expenses of $7.5M, and assets of $6.5M (revenue +4.9% year-over-year).
2013: Revenue of $6.7M, expenses of $6.4M, and assets of $6.9M (revenue +5.3% year-over-year).
2012: Revenue of $6.3M, expenses of $5.4M, and assets of $6.6M (revenue +2.5% year-over-year).
2011: Revenue of $6.2M, expenses of $5.0M, and assets of $5.7M.

Data Sources and Methodology

This transparency report for Plumbers 112 Welfare Plan 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.