Steamfitters Industry Welfare Fund Board Of Trustees
Steamfitters Welfare Fund Experiences Consistent Operating Deficits While Drawing Down Assets.
EIN: 131545680 · Long Island City, NY · NTEE: J40 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $105.7M |
| Total Expenses | $84.2M |
| Program Spending | 90% |
| Net Assets | $89.0M |
| Transparency Score | 70/100 |
Search Intent Cockpit
Steamfitters Industry Welfare Fund Board Of Trustees Form 990, Revenue, CEO Pay, and IRS Filing Signals
Steamfitters Industry Welfare Fund Board Of Trustees is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Steamfitters Industry Welfare Fund Board Of Trustees in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $71.4M and expenses of $84.2M.
Revenue and Expenses
Steamfitters Industry Welfare Fund Board Of Trustees reported $71.4M in revenue and $84.2M in expenses, a deficit of $12.8M.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
70/100 mission score, 2 red flags, and 3 strengths are shown from structured and AI review.
Is Steamfitters Industry Welfare Fund Board Of Trustees Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $75.7M (90%) |
Across stored filings, Steamfitters Industry Welfare Fund Board Of Trustees shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 90% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Category J context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
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Long Island City, NY nonprofitsCategory J in New York
Human Services in New York
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Keep the Investigation Moving
Steamfitters Industry Welfare Fund Board Of Trustees directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Steamfitters Industry Welfare Fund Board Of Trustees
Steamfitters Industry Welfare Fund Board Of Trustees (EIN: 131545680) is a nonprofit organization based in Long Island City, NY, classified under NTEE code J40. The organization reported total revenue of $105.7M and total assets of $78.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steamfitters Industry Welfare Fund Board Of Trustees's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Steamfitters Industry Welfare Fund Board Of Trustees is a major nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $71.4M |
| Total Expenses | $84.2M |
| Surplus / Deficit | $-12,779,910 |
| Total Assets | $91.7M |
| Total Liabilities | $2.7M |
| Net Assets | $89.0M |
| Operating Margin | -17.9% |
| Debt-to-Asset Ratio | 3.0% |
| Months of Reserves | 13.1 months |
Financial Health Grade: B
In 2023, Steamfitters Industry Welfare Fund Board Of Trustees reported a deficit of $12.8M with expenses exceeding revenue, holds 13.1 months of operating reserves (strong position), has a debt-to-asset ratio of 3.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Steamfitters Industry Welfare Fund Board Of Trustees's revenue has grown at a compound annual growth rate (CAGR) of 1.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.0% | -13.0% | -5.1% |
| 2022 | -18.5% | +6.1% | -28.4% |
| 2021 | +13.3% | +7.7% | -5.2% |
| 2020 | -16.3% | -5.9% | -6.3% |
| 2019 | -2.1% | +2.1% | +7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2006 |
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 Steamfitters Industry Welfare Fund Board Of Trustees with a Mission Score of 70 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Steamfitters Industry Welfare Fund Board Of Trustees 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $12.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that the Board of Trustees members are not compensated directly from the fund, which is a strong positive for financial stewardship.
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 Welfare Fund Board Of Trustees's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in recent years, e.g., $12.7M in 2023 and $28.1M in 2022.
- Declining asset base from $151.9M in 2019 to $91.7M in 2023, indicating a draw-down of reserves.
Strengths
The following positive indicators were identified for Steamfitters Industry Welfare Fund Board Of Trustees:
- No officer compensation reported, indicating strong fiduciary responsibility and lack of personal financial gain for trustees.
- Manages substantial assets ($91.7M in 2023) to fulfill its welfare mission.
- Consistent history of IRS 990 filings, demonstrating transparency.
Frequently Asked Questions about Steamfitters Industry Welfare Fund Board Of Trustees
Is Steamfitters Industry Welfare Fund Board Of Trustees a legitimate charity?
Steamfitters Industry Welfare Fund Board Of Trustees (EIN: 131545680) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $105.7M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Steamfitters Industry Welfare Fund Board Of Trustees spend its money?
Steamfitters Industry Welfare Fund Board Of Trustees directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Steamfitters Industry Welfare Fund Board Of Trustees tax-deductible?
Steamfitters Industry Welfare Fund Board Of Trustees is registered as a tax-exempt nonprofit (EIN: 131545680). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Steamfitters Industry Welfare Fund Board Of Trustees's spending goes to programs?
Steamfitters Industry Welfare Fund Board Of Trustees directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Steamfitters Industry Welfare Fund Board Of Trustees compare to similar nonprofits?
With a transparency score of 70/100 (Good), Steamfitters Industry Welfare Fund Board Of Trustees is above average for NTEE category J40 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Steamfitters Industry Welfare Fund Board Of Trustees located?
Steamfitters Industry Welfare Fund Board Of Trustees is headquartered in Long Island City, New York and files with the IRS under EIN 131545680. It is classified under NTEE code J40.
How many years of IRS 990 filings does Steamfitters Industry Welfare Fund Board Of Trustees have?
Steamfitters Industry Welfare Fund Board Of Trustees 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 $105.7M in total revenue.
Is the Steamfitters Industry Welfare Fund Board Of Trustees financially stable?
While the fund holds substantial assets ($91,726,848 in 2023), it has experienced consistent operating deficits in recent years (e.g., $12,779,910 deficit in 2023, $28,161,951 deficit in 2022), leading to a decline in its asset base from a high of $151,976,500 in 2019. This trend warrants close monitoring for long-term stability.
How does the organization manage its expenses relative to its revenue?
For several recent periods, the organization's expenses have exceeded its revenue. For example, in 2023, expenses were $84,156,944 against revenues of $71,377,034. This suggests the fund is either drawing down reserves or relying on investment income not fully captured in the 'revenue' figure to cover its benefit obligations and operational costs.
What is the trend in the organization's assets?
The organization's assets have decreased from a peak of $151,976,500 in 2019 to $91,726,848 in 2023. This decline aligns with the observed operating deficits, indicating that the fund is utilizing its principal to meet obligations.
Filing History
IRS 990 filing history for Steamfitters Industry Welfare Fund Board Of Trustees showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Steamfitters Industry Welfare Fund Board Of Trustees's revenue has grown by 13.7%, moving from $62.8M to $71.4M. Total assets increased by 153.4% over the same period, from $36.2M to $91.7M. Total functional expenses rose by 39.1%, from $60.5M to $84.2M. In its most recent filing year (2023), Steamfitters Industry Welfare Fund Board Of Trustees reported a deficit of $12.8M, with expenses exceeding revenue. The organization holds $2.7M in liabilities against $91.7M in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $89.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $71.4M | $84.2M | $91.7M | $2.7M | — | — |
| 2022 | $68.6M | $96.8M | $96.7M | $4.1M | — | View 990 |
| 2021 | $84.1M | $91.2M | $135.0M | $2.2M | — | View 990 |
| 2020 | $74.3M | $84.7M | $142.4M | $2.5M | — | — |
| 2019 | $88.7M | $90.0M | $152.0M | $3.2M | — | View 990 |
| 2018 | $90.6M | $88.1M | $141.7M | $2.5M | — | View 990 |
| 2017 | $89.4M | $76.7M | $146.7M | $2.6M | — | — |
| 2016 | $89.0M | $77.5M | $129.5M | $3.6M | — | View 990 |
| 2015 | $81.6M | $69.2M | $113.7M | $3.4M | — | View 990 |
| 2014 | $87.0M | $67.4M | $101.9M | $2.7M | — | View 990 |
| 2013 | $81.7M | $58.0M | $87.1M | $2.3M | — | View 990 |
| 2012 | $78.4M | $56.5M | $60.8M | $2.7M | — | View 990 |
| 2011 | $62.8M | $60.5M | $36.2M | $2.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $71.4M, expenses of $84.2M, and assets of $91.7M (revenue +4.0% year-over-year).
- 2022: Revenue of $68.6M, expenses of $96.8M, and assets of $96.7M (revenue -18.5% year-over-year).
- 2021: Revenue of $84.1M, expenses of $91.2M, and assets of $135.0M (revenue +13.3% year-over-year).
- 2020: Revenue of $74.3M, expenses of $84.7M, and assets of $142.4M (revenue -16.3% year-over-year).
- 2019: Revenue of $88.7M, expenses of $90.0M, and assets of $152.0M (revenue -2.1% year-over-year).
- 2018: Revenue of $90.6M, expenses of $88.1M, and assets of $141.7M (revenue +1.4% year-over-year).
- 2017: Revenue of $89.4M, expenses of $76.7M, and assets of $146.7M (revenue +0.5% year-over-year).
- 2016: Revenue of $89.0M, expenses of $77.5M, and assets of $129.5M (revenue +9.0% year-over-year).
- 2015: Revenue of $81.6M, expenses of $69.2M, and assets of $113.7M (revenue -6.2% year-over-year).
- 2014: Revenue of $87.0M, expenses of $67.4M, and assets of $101.9M (revenue +6.5% year-over-year).
- 2013: Revenue of $81.7M, expenses of $58.0M, and assets of $87.1M (revenue +4.2% year-over-year).
- 2012: Revenue of $78.4M, expenses of $56.5M, and assets of $60.8M (revenue +24.9% year-over-year).
- 2011: Revenue of $62.8M, expenses of $60.5M, and assets of $36.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Steamfitters Industry Welfare Fund Board Of Trustees:
Data Sources and Methodology
This transparency report for Steamfitters Industry Welfare Fund Board Of Trustees 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.