Seafarers Officers And Employees Welfare Fund
Seafarers Officers And Employees Welfare Fund shows consistent revenue growth and asset accumulation with no reported officer compensation.
EIN: 112571578 · Camp Springs, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $15.7M |
| Total Expenses | $10.6M |
| Program Spending | 85% |
| Net Assets | $12.1M |
| Transparency Score | 85/100 |
Is Seafarers Officers And Employees Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Seafarers Officers And Employees Welfare Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Seafarers Officers And Employees Welfare Fund
Seafarers Officers And Employees Welfare Fund (EIN: 112571578) is a nonprofit organization based in Camp Springs, MD. The organization reported total revenue of $15.7M and total assets of $13.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Seafarers Officers And Employees Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Seafarers Officers And Employees Welfare Fund is a large nonprofit that has been operating for 45 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.8M |
| Total Expenses | $10.6M |
| Surplus / Deficit | +$1.2M |
| Total Assets | $12.1M |
| Total Liabilities | $24K |
| Net Assets | $12.1M |
| Operating Margin | 10.0% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 13.7 months |
Financial Health Grade: A
In 2023, Seafarers Officers And Employees Welfare Fund reported a surplus of $1.2M with revenue exceeding expenses, holds 13.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Seafarers Officers And Employees Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.8% | -4.7% | +16.0% |
| 2022 | +5.9% | +16.0% | -3.9% |
| 2021 | +0.3% | -10.3% | +17.4% |
| 2020 | +4.9% | +12.3% | +6.1% |
| 2019 | +0.6% | +15.6% | +14.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
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 Seafarers Officers And Employees 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Seafarers Officers And Employees Welfare Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $1.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting that officers are either uncompensated or compensated through mechanisms not classified as officer compensation on the IRS 990, which is a notable point for transparency.
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 Seafarers Officers And Employees Welfare Fund's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
- Unclear how officers are compensated if 0% is reported, warrants further investigation
Strengths
The following positive indicators were identified for Seafarers Officers And Employees Welfare Fund:
- Consistent revenue growth over the past decade, from $8,066,281 in 2014 to $11,810,701 in 2023.
- Significant asset accumulation, increasing from $2,796,894 in 2014 to $12,130,815 in 2023.
- Consistent operational surpluses, with revenues exceeding expenses in all reported periods.
- Low liabilities relative to assets, indicating strong financial stability.
- 0% reported officer compensation across all filings, suggesting efficient use of funds or alternative compensation structures.
Frequently Asked Questions about Seafarers Officers And Employees Welfare Fund
Is Seafarers Officers And Employees Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Seafarers Officers And Employees Welfare Fund (EIN: 112571578) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Seafarers Officers And Employees Welfare Fund spend its money?
Seafarers Officers And Employees Welfare Fund directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Seafarers Officers And Employees Welfare Fund tax-deductible?
Seafarers Officers And Employees Welfare Fund is registered as a tax-exempt nonprofit (EIN: 112571578). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Seafarers Officers And Employees Welfare Fund's spending goes to programs?
Seafarers Officers And Employees Welfare Fund directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Seafarers Officers And Employees Welfare Fund located?
Seafarers Officers And Employees Welfare Fund is headquartered in Camp Springs, Maryland and files with the IRS under EIN 112571578.
How many years of IRS 990 filings does Seafarers Officers And Employees Welfare Fund have?
Seafarers Officers And Employees Welfare 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 $15.7M in total revenue.
Is Seafarers Officers And Employees Welfare Fund a good charity?
Based on the provided financial data, the organization appears to be financially healthy, consistently generating surpluses, and growing its asset base. The lack of reported officer compensation is also a positive indicator of resource allocation. However, without a detailed breakdown of program vs. administrative vs. fundraising expenses, a complete assessment of its charitable effectiveness is limited.
How has the organization's financial health changed over the last decade?
The organization's financial health has significantly improved over the last decade. Revenue has increased from $8,066,281 in 2014 to $11,810,701 in 2023, and assets have grown substantially from $2,796,894 to $12,130,815 in the same period, indicating strong financial management and growth.
What is the trend in the organization's liabilities?
Liabilities have remained relatively low and stable compared to assets, fluctuating between $24,000 and $121,799 over the past decade, which is a positive sign of financial stability and low debt burden.
Filing History
IRS 990 filing history for Seafarers Officers And Employees Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Seafarers Officers And Employees Welfare Fund's revenue has grown by 100.1%, moving from $5.9M to $11.8M. Total assets increased by 1071.6% over the same period, from $1.0M to $12.1M. Total functional expenses rose by 76.5%, from $6.0M to $10.6M. In its most recent filing year (2023), Seafarers Officers And Employees Welfare Fund reported a surplus of $1.2M, with revenue exceeding expenses. The organization holds $24K in liabilities against $12.1M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $12.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.8M | $10.6M | $12.1M | $24K | — | — |
| 2022 | $11.6M | $11.2M | $10.5M | $99K | — | View 990 |
| 2021 | $10.9M | $9.6M | $10.9M | $42K | — | View 990 |
| 2020 | $10.9M | $10.7M | $9.3M | $36K | — | View 990 |
| 2019 | $10.4M | $9.6M | $8.7M | $29K | — | — |
| 2018 | $10.3M | $8.3M | $7.6M | $63K | — | View 990 |
| 2017 | $10.1M | $9.0M | $5.8M | $29K | — | View 990 |
| 2016 | $10.3M | $9.2M | $4.7M | $34K | — | View 990 |
| 2015 | $9.4M | $8.4M | $3.8M | $30K | — | View 990 |
| 2014 | $8.1M | $8.1M | $2.8M | $122K | — | View 990 |
| 2013 | $8.1M | $6.8M | $2.6M | $29K | — | View 990 |
| 2012 | $6.9M | $6.5M | $1.6M | $542K | — | View 990 |
| 2011 | $5.9M | $6.0M | $1.0M | $445K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.8M, expenses of $10.6M, and assets of $12.1M (revenue +1.8% year-over-year).
- 2022: Revenue of $11.6M, expenses of $11.2M, and assets of $10.5M (revenue +5.9% year-over-year).
- 2021: Revenue of $10.9M, expenses of $9.6M, and assets of $10.9M (revenue +0.3% year-over-year).
- 2020: Revenue of $10.9M, expenses of $10.7M, and assets of $9.3M (revenue +4.9% year-over-year).
- 2019: Revenue of $10.4M, expenses of $9.6M, and assets of $8.7M (revenue +0.6% year-over-year).
- 2018: Revenue of $10.3M, expenses of $8.3M, and assets of $7.6M (revenue +2.5% year-over-year).
- 2017: Revenue of $10.1M, expenses of $9.0M, and assets of $5.8M (revenue -1.8% year-over-year).
- 2016: Revenue of $10.3M, expenses of $9.2M, and assets of $4.7M (revenue +9.2% year-over-year).
- 2015: Revenue of $9.4M, expenses of $8.4M, and assets of $3.8M (revenue +16.7% year-over-year).
- 2014: Revenue of $8.1M, expenses of $8.1M, and assets of $2.8M (revenue +0.1% year-over-year).
- 2013: Revenue of $8.1M, expenses of $6.8M, and assets of $2.6M (revenue +16.6% year-over-year).
- 2012: Revenue of $6.9M, expenses of $6.5M, and assets of $1.6M (revenue +17.1% year-over-year).
- 2011: Revenue of $5.9M, expenses of $6.0M, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Seafarers Officers And Employees Welfare Fund:
Data Sources and Methodology
This transparency report for Seafarers Officers And Employees 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.