Steamfitters Industry Educational Fund

Steamfitters Industry Educational Fund maintains strong program spending despite recent operating deficits and increasing liabilities.

EIN: 131919703 · Long Island City, NY · Updated: 2026-03-28

$4.1MRevenue

$22.7MAssets

85/100Mission Score (Excellent)

About Steamfitters Industry Educational Fund

Steamfitters Industry Educational Fund (EIN: 131919703) is a nonprofit organization based in Long Island City, NY. The organization reported total revenue of $4.1M and total assets of $22.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steamfitters Industry Educational Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Steamfitters Industry Educational Fund demonstrates a consistent commitment to its educational mission, as evidenced by its program spending. Over the past three years (2021-2023), the organization has consistently spent more than 80% of its total expenses on program services, indicating a strong focus on its core activities. However, the organization has experienced operating deficits in recent years, with expenses exceeding revenue by approximately $1.19 million in 2023 and $1.35 million in 2022. While assets remain substantial at over $24 million in 2023, these deficits warrant monitoring to ensure long-term financial stability.

The organization's financial health shows a mixed picture. While assets have grown significantly over the past decade, from $10.6 million in 2014 to $24 million in 2023, the recent trend of expenses outpacing revenue could erode these reserves if not addressed. The absence of reported officer compensation across all filings suggests a lean administrative structure regarding executive pay, contributing to efficient use of funds in that area. Transparency is high, with consistent annual filings available for public review.

Spending efficiency is generally strong, with a high proportion of expenses dedicated to programs. The organization's ability to maintain significant assets despite recent operating deficits suggests a robust financial foundation built over time. However, the increasing liabilities, from $46,540 in 2021 to $3,353,776 in 2023, should be closely watched as they represent a growing financial obligation.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Steamfitters Industry Educational 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: 13%
programs: 82%
fundraising: 5%

According to IRS 990 filings, Steamfitters Industry Educational Fund allocates its expenses as follows: admin: 13%, programs: 82%, fundraising: 5%. With 82% 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 other compensation are paid to its officers, which is highly unusual for an organization of this size and suggests a volunteer-led executive structure or compensation is covered by a related entity.

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 Steamfitters Industry Educational Fund's IRS 990 filings:

Consistent operating deficits in recent years (e.g., $1.19M in 2023, $1.35M in 2022) where expenses exceed revenue.
Significant increase in liabilities from $46,540 in 2021 to $3,353,776 in 2023, which needs further explanation.
Unusual consistent reporting of 0% officer compensation for an organization of this size, which might indicate compensation is handled off-book or by a related entity.

Strengths

The following positive indicators were identified for Steamfitters Industry Educational Fund:

Strong program spending ratio, consistently above 80% of total expenses.
Substantial and growing asset base, reaching $24.07M in 2023, providing a strong financial foundation.
Consistent filing history demonstrating transparency and adherence to regulatory requirements.
No reported officer compensation, indicating a potentially very lean administrative cost structure for executive leadership.

Frequently Asked Questions about Steamfitters Industry Educational Fund

Is the Steamfitters Industry Educational Fund financially stable given recent operating deficits?

While the organization has experienced operating deficits in 2022 and 2023 (expenses exceeding revenue by $1.35M and $1.19M respectively), its substantial asset base of $24.07M in 2023 provides a buffer. However, sustained deficits could impact long-term stability if not addressed.

Why is officer compensation consistently reported as 0%?

The consistent reporting of 0% officer compensation across all filings suggests that executive leadership may be entirely volunteer-based, or their compensation is handled by a related entity and not directly reported on this specific 990 form. This is a notable characteristic for an organization with over $4 million in annual revenue.

What is the cause of the significant increase in liabilities from 2021 to 2023?

Liabilities increased from $46,540 in 2021 to $3,353,776 in 2023. This substantial increase warrants further investigation into the nature of these liabilities, such as new debt, deferred revenue, or other financial obligations, as it represents a significant change in the organization's financial structure.

Filing History

IRS 990 filing history for Steamfitters Industry Educational Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Steamfitters Industry Educational Fund's revenue has grown by 3.6%, moving from $3.5M to $3.6M. Total assets increased by 1117.1% over the same period, from $2.0M to $24.1M. Total functional expenses rose by 114.5%, from $2.3M to $4.8M. In its most recent filing year (2023), Steamfitters Industry Educational Fund reported a deficit of $1.2M, with expenses exceeding revenue. The organization holds $3.4M in liabilities against $24.1M in assets (debt-to-asset ratio: 13.9%), resulting in net assets of $20.7M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.6M	$4.8M	$24.1M	$3.4M	—	—
2022	$3.4M	$4.8M	$25.5M	$3.7M	—	View 990
2021	$3.7M	$4.1M	$24.7M	$47K	—	View 990
2020	$3.4M	$4.1M	$25.6M	$266K	—	—
2019	$5.2M	$3.9M	$26.1M	$118K	—	View 990
2018	$6.5M	$3.0M	$23.6M	$52K	—	View 990
2017	$6.5M	$2.5M	$20.5M	$56K	—	View 990
2016	$6.2M	$2.6M	$16.7M	$43K	—	View 990
2015	$5.5M	$2.6M	$13.2M	$60K	—	View 990
2014	$5.2M	$2.3M	$10.6M	$47K	—	View 990
2013	$4.9M	$2.1M	$7.7M	$53K	—	View 990
2012	$4.9M	$2.0M	$4.9M	$41K	—	View 990
2011	$3.5M	$2.3M	$2.0M	$46K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.6M, expenses of $4.8M, and assets of $24.1M (revenue +6.8% year-over-year).
2022: Revenue of $3.4M, expenses of $4.8M, and assets of $25.5M (revenue -7.9% year-over-year).
2021: Revenue of $3.7M, expenses of $4.1M, and assets of $24.7M (revenue +8.4% year-over-year).
2020: Revenue of $3.4M, expenses of $4.1M, and assets of $25.6M (revenue -34.0% year-over-year).
2019: Revenue of $5.2M, expenses of $3.9M, and assets of $26.1M (revenue -20.4% year-over-year).
2018: Revenue of $6.5M, expenses of $3.0M, and assets of $23.6M (revenue +0.1% year-over-year).
2017: Revenue of $6.5M, expenses of $2.5M, and assets of $20.5M (revenue +5.2% year-over-year).
2016: Revenue of $6.2M, expenses of $2.6M, and assets of $16.7M (revenue +12.5% year-over-year).
2015: Revenue of $5.5M, expenses of $2.6M, and assets of $13.2M (revenue +5.6% year-over-year).
2014: Revenue of $5.2M, expenses of $2.3M, and assets of $10.6M (revenue +6.7% year-over-year).
2013: Revenue of $4.9M, expenses of $2.1M, and assets of $7.7M (revenue -1.0% year-over-year).
2012: Revenue of $4.9M, expenses of $2.0M, and assets of $4.9M (revenue +40.0% year-over-year).
2011: Revenue of $3.5M, expenses of $2.3M, and assets of $2.0M.

Data Sources and Methodology

This transparency report for Steamfitters Industry Educational 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.