Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp
Snap On Benefit Trust consistently spends more than it earns, drawing down assets.
EIN: 116629080 · Kenosha, WI · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| Net Assets | $11.3M |
| Transparency Score | 65/100 |
Is Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp (EIN: 116629080) is a nonprofit organization based in Kenosha, WI, classified under NTEE code Y43. The organization reported total revenue of $1.5M and total assets of $11.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp is a mid-size nonprofit that has been operating for 16 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 18.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $492K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-619,266 |
| Total Assets | $11.3M |
| Net Assets | $11.3M |
| Operating Margin | -125.8% |
| Months of Reserves | 122.1 months |
Financial Health Grade: B
In 2023, Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp reported a deficit of $619K with expenses exceeding revenue, holds 122.1 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2010–2023), Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp's revenue has grown at a compound annual growth rate (CAGR) of 18.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +25.8% | +102.9% | +0.5% |
| 2022 | -21.4% | -26.7% | -18.4% |
| 2021 | +171.9% | -5.3% | +4.1% |
| 2020 | -0.6% | -1.6% | +3.9% |
| 2019 | -82.9% | -28.1% | +5.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
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 Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp with a Mission Score of 65 out of 100 (Good). 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: 90%
- fundraising: 0%
According to IRS 990 filings, Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $619K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that no officers receive compensation from the organization, which is a strong positive for financial transparency and efficiency.
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 Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp's IRS 990 filings:
- Consistent deficit spending, with expenses significantly exceeding revenue in most periods (e.g., 2023 expenses were more than double revenue).
- Declining asset base over the past decade, from $14.7 million in 2014 to $11.3 million in 2023, indicating asset drawdowns.
Strengths
The following positive indicators were identified for Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp:
- Zero reported officer compensation across all filings, indicating strong financial transparency regarding executive pay.
- Consistently reports zero liabilities, suggesting a stable financial position without outstanding debts.
- Clear focus as a benefit trust (NTEE Y43), implying a specific, defined purpose for its expenditures.
Frequently Asked Questions about Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp
Is Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp a legitimate charity?
Based on AI analysis of IRS 990 filings, Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp (EIN: 116629080) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp spend its money?
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp tax-deductible?
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp is registered as a tax-exempt nonprofit (EIN: 116629080). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp compare to similar nonprofits?
With a transparency score of 65/100 (Good), Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp is above average for NTEE category Y43 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp located?
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp is headquartered in Kenosha, Wisconsin and files with the IRS under EIN 116629080. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp have?
Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp has 14 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 $1.5M in total revenue.
Is Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp a good charity?
As a benefit trust (NTEE Code Y43), it's not a public charity in the traditional sense. Its 'goodness' should be evaluated based on its effectiveness in managing and distributing benefits to its intended beneficiaries, rather than typical charity metrics.
Why are expenses consistently higher than revenue?
The trust consistently reports expenses exceeding revenue, for example, $1,111,463 in expenses against $492,197 in revenue in 2023. This indicates the trust is likely using its accumulated assets to cover benefit distributions and operational costs.
What is the long-term financial outlook given the deficit spending?
With assets decreasing from $14.7 million in 2014 to $11.3 million in 2023 due to consistent deficit spending, the long-term financial sustainability depends on the rate of asset depletion relative to future obligations and any potential future revenue streams.
Filing History
IRS 990 filing history for Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp's revenue has grown by 778.3%, moving from $56K to $492K. Total assets decreased by 18.4% over the same period, from $13.9M to $11.3M. Total functional expenses rose by 637.5%, from $151K to $1.1M. In its most recent filing year (2023), Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp reported a deficit of $619K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $492K | $1.1M | $11.3M | $0 | — | — |
| 2022 | $391K | $548K | $11.3M | $0 | — | View 990 |
| 2021 | $498K | $747K | $13.8M | $0 | — | View 990 |
| 2020 | $183K | $789K | $13.3M | $0 | — | View 990 |
| 2019 | $184K | $802K | $12.8M | $0 | — | View 990 |
| 2018 | $1.1M | $1.1M | $12.1M | $0 | — | View 990 |
| 2017 | $269K | $1.1M | $13.4M | $0 | — | View 990 |
| 2016 | $298K | $1.0M | $13.2M | $0 | — | View 990 |
| 2015 | $170K | $1.1M | $13.7M | $0 | — | View 990 |
| 2014 | $1.8M | $1.2M | $14.8M | $0 | — | View 990 |
| 2013 | $280K | $2.6M | $15.0M | $0 | — | View 990 |
| 2012 | $377K | $138K | $15.1M | $0 | — | View 990 |
| 2011 | $298K | $148K | $13.6M | $0 | — | View 990 |
| 2010 | $56K | $151K | $13.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $492K, expenses of $1.1M, and assets of $11.3M (revenue +25.8% year-over-year).
- 2022: Revenue of $391K, expenses of $548K, and assets of $11.3M (revenue -21.4% year-over-year).
- 2021: Revenue of $498K, expenses of $747K, and assets of $13.8M (revenue +171.9% year-over-year).
- 2020: Revenue of $183K, expenses of $789K, and assets of $13.3M (revenue -0.6% year-over-year).
- 2019: Revenue of $184K, expenses of $802K, and assets of $12.8M (revenue -82.9% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $12.1M (revenue +301.8% year-over-year).
- 2017: Revenue of $269K, expenses of $1.1M, and assets of $13.4M (revenue -9.8% year-over-year).
- 2016: Revenue of $298K, expenses of $1.0M, and assets of $13.2M (revenue +75.7% year-over-year).
- 2015: Revenue of $170K, expenses of $1.1M, and assets of $13.7M (revenue -90.8% year-over-year).
- 2014: Revenue of $1.8M, expenses of $1.2M, and assets of $14.8M (revenue +555.8% year-over-year).
- 2013: Revenue of $280K, expenses of $2.6M, and assets of $15.0M (revenue -25.6% year-over-year).
- 2012: Revenue of $377K, expenses of $138K, and assets of $15.1M (revenue +26.7% year-over-year).
- 2011: Revenue of $298K, expenses of $148K, and assets of $13.6M (revenue +430.9% year-over-year).
- 2010: Revenue of $56K, expenses of $151K, and assets of $13.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp:
Data Sources and Methodology
This transparency report for Snap On Incorporated Amended And Restated Benefit Tr Fo Col Bar Emp 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.