Plumbers And Steamfitters 7 Welfare Fund
Plumbers And Steamfitters 7 Welfare Fund consistently grows assets with positive revenue-to-expense ratio and no reported officer compensation.
EIN: 146029930 · Latham, NY · Updated: 2026-03-28
Is Plumbers And Steamfitters 7 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Plumbers And Steamfitters 7 Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Plumbers And Steamfitters 7 Welfare Fund
Plumbers And Steamfitters 7 Welfare Fund (EIN: 146029930) is a nonprofit organization based in Latham, NY. The organization reported total revenue of $120.2M and total assets of $93.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Plumbers And Steamfitters 7 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Plumbers And Steamfitters 7 Welfare 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, Plumbers And Steamfitters 7 Welfare 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.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with annual revenues exceeding $15 million. This suggests that executive leadership may be compensated through other mechanisms not classified as officer compensation on the 990, or that the fund operates with an entirely volunteer executive 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 Plumbers And Steamfitters 7 Welfare Fund's IRS 990 filings:
- 0% officer compensation reported across all filings, which is highly unusual for an organization of this size and could indicate compensation is reported in other categories or through related entities, potentially obscuring a full picture of executive pay.
Strengths
The following positive indicators were identified for Plumbers And Steamfitters 7 Welfare Fund:
- Consistent positive revenue-to-expense ratio, indicating financial sustainability (e.g., 2023 revenue $18M vs. expenses $16.8M).
- Steady growth in assets over the past decade, from $55.6M in 2014 to $83.7M in 2023, demonstrating strong financial health.
- Low liabilities relative to assets, suggesting a healthy balance sheet (e.g., 2023 liabilities $280,993 vs. assets $83,774,777).
Frequently Asked Questions about Plumbers And Steamfitters 7 Welfare Fund
Is Plumbers And Steamfitters 7 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Plumbers And Steamfitters 7 Welfare Fund (EIN: 146029930) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Plumbers And Steamfitters 7 Welfare Fund spend its money?
Plumbers And Steamfitters 7 Welfare Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Plumbers And Steamfitters 7 Welfare Fund tax-deductible?
Plumbers And Steamfitters 7 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 146029930). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Plumbers And Steamfitters 7 Welfare Fund a good charity?
Based on the available IRS 990 data, the organization demonstrates strong financial health, consistent asset growth, and a positive revenue-to-expense ratio. Its primary function appears to be providing welfare benefits, and the spending patterns suggest a high allocation to program services. The lack of reported officer compensation is a unique characteristic that could be viewed positively for efficiency, but also warrants further inquiry into the operational model.
How does Plumbers And Steamfitters 7 Welfare Fund manage its finances?
The organization consistently generates more revenue than expenses, leading to steady asset growth. For example, in 2023, revenue was $18,023,975 against expenses of $16,799,529, contributing to assets of $83,774,777. This indicates prudent financial management and a focus on building reserves.
What is the trend in the organization's assets?
The organization's assets have shown consistent growth over the past decade, increasing from $55,680,287 in 2014 to $83,774,777 in 2023. This upward trend suggests financial stability and effective management of its resources.
Filing History
IRS 990 filing history for Plumbers And Steamfitters 7 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Plumbers And Steamfitters 7 Welfare Fund's revenue has grown by 44%, moving from $12.5M to $18.0M. Total assets increased by 113.2% over the same period, from $39.3M to $83.8M. Total functional expenses rose by 70.1%, from $9.9M to $16.8M. In its most recent filing year (2023), Plumbers And Steamfitters 7 Welfare Fund reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $281K in liabilities against $83.8M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $83.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $18.0M | $16.8M | $83.8M | $281K | — | View 990 |
| 2022 | $18.0M | $16.6M | $86.3M | $215K | — | View 990 |
| 2021 | $16.4M | $13.8M | $90.9M | $218K | — | View 990 |
| 2020 | $15.1M | $13.7M | $74.3M | $283K | — | View 990 |
| 2019 | $16.1M | $13.3M | $72.2M | $220K | — | View 990 |
| 2018 | $15.5M | $13.3M | $71.1M | $285K | — | View 990 |
| 2017 | $15.8M | $13.1M | $65.8M | $249K | — | View 990 |
| 2016 | $13.8M | $12.6M | $59.0M | $166K | — | View 990 |
| 2015 | $15.3M | $11.7M | $59.9M | $174K | — | View 990 |
| 2014 | $13.8M | $11.5M | $55.7M | $155K | — | View 990 |
| 2013 | $13.5M | $10.6M | $49.5M | $182K | — | View 990 |
| 2012 | $14.3M | $10.1M | $42.0M | $299K | — | View 990 |
| 2011 | $12.5M | $9.9M | $39.3M | $120K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $18.0M, expenses of $16.8M, and assets of $83.8M (revenue +0.2% year-over-year).
- 2022: Revenue of $18.0M, expenses of $16.6M, and assets of $86.3M (revenue +9.6% year-over-year).
- 2021: Revenue of $16.4M, expenses of $13.8M, and assets of $90.9M (revenue +8.4% year-over-year).
- 2020: Revenue of $15.1M, expenses of $13.7M, and assets of $74.3M (revenue -5.9% year-over-year).
- 2019: Revenue of $16.1M, expenses of $13.3M, and assets of $72.2M (revenue +4.1% year-over-year).
- 2018: Revenue of $15.5M, expenses of $13.3M, and assets of $71.1M (revenue -2.3% year-over-year).
- 2017: Revenue of $15.8M, expenses of $13.1M, and assets of $65.8M (revenue +14.9% year-over-year).
- 2016: Revenue of $13.8M, expenses of $12.6M, and assets of $59.0M (revenue -9.9% year-over-year).
- 2015: Revenue of $15.3M, expenses of $11.7M, and assets of $59.9M (revenue +10.8% year-over-year).
- 2014: Revenue of $13.8M, expenses of $11.5M, and assets of $55.7M (revenue +2.1% year-over-year).
- 2013: Revenue of $13.5M, expenses of $10.6M, and assets of $49.5M (revenue -5.2% year-over-year).
- 2012: Revenue of $14.3M, expenses of $10.1M, and assets of $42.0M (revenue +14.0% year-over-year).
- 2011: Revenue of $12.5M, expenses of $9.9M, and assets of $39.3M.
Data Sources and Methodology
This transparency report for Plumbers And Steamfitters 7 Welfare 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.