Steamfitters Welfare Fund Local Union No 475

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Steamfitters Welfare Fund Local Union No 475 Form 990, Revenue, CEO Pay, and IRS Filing Signals

Steamfitters Welfare Fund Local Union No 475 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 Welfare Fund Local Union No 475 in one place.

Is Steamfitters Welfare Fund Local Union No 475 Legit?

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Steamfitters Welfare Fund Local Union No 475 directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Steamfitters Welfare Fund Local Union No 475

Steamfitters Welfare Fund Local Union No 475 (EIN: 221516999) is a nonprofit organization based in Warren, NJ, classified under NTEE code Y43. The organization reported total revenue of $17.9M and total assets of $53.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steamfitters Welfare Fund Local Union No 475's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Steamfitters Welfare Fund Local Union No 475 is a large nonprofit that has been operating for 73 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.5%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Steamfitters Welfare Fund Local Union No 475 reported a surplus of $4.7M with revenue exceeding expenses, holds 39.8 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Steamfitters Welfare Fund Local Union No 475's revenue has grown at a compound annual growth rate (CAGR) of 5.5%.

IRS Tax-Exempt Classification

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 Welfare Fund Local Union No 475 with a Mission Score of 75 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: 80%
• fundraising: 10%

According to IRS 990 filings, Steamfitters Welfare Fund Local Union No 475 allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $4.7M, with revenue exceeding expenses.
• Debt-to-asset ratio: 2.1%.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, suggesting that key personnel may be compensated through a related entity or serve in an unpaid capacity.

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.

Strengths

The following positive indicators were identified for Steamfitters Welfare Fund Local Union No 475:

• Consistently high program spending, with approximately 80% of expenses directed towards programs.
• Healthy asset growth, increasing from $18.2 million in 2016 to $49.5 million in 2023.
• Stable revenue streams, consistently around $16-19 million annually over the past eight years.

Frequently Asked Questions about Steamfitters Welfare Fund Local Union No 475

Filing History

IRS 990 filing history for Steamfitters Welfare Fund Local Union No 475 showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Steamfitters Welfare Fund Local Union No 475's revenue has grown by 90.9%, moving from $10.3M to $19.6M. Total assets increased by 262.8% over the same period, from $13.7M to $49.5M. Total functional expenses rose by 19.2%, from $12.5M to $14.9M. In its most recent filing year (2023), Steamfitters Welfare Fund Local Union No 475 reported a surplus of $4.7M, with revenue exceeding expenses. The organization holds $1.0M in liabilities against $49.5M in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $48.5M.

Year-by-Year Financial Summary

• 2023: Revenue of $19.6M, expenses of $14.9M, and assets of $49.5M (revenue +21.7% year-over-year).
• 2022: Revenue of $16.1M, expenses of $13.8M, and assets of $43.8M (revenue -14.0% year-over-year).
• 2021: Revenue of $18.7M, expenses of $12.7M, and assets of $43.8M (revenue +3.7% year-over-year).
• 2020: Revenue of $18.0M, expenses of $12.6M, and assets of $37.7M (revenue +-0.0% year-over-year).
• 2019: Revenue of $18.0M, expenses of $14.3M, and assets of $32.2M (revenue +9.2% year-over-year).
• 2018: Revenue of $16.5M, expenses of $13.2M, and assets of $27.3M (revenue -9.5% year-over-year).
• 2017: Revenue of $18.3M, expenses of $11.9M, and assets of $24.6M (revenue +25.8% year-over-year).
• 2016: Revenue of $14.5M, expenses of $11.3M, and assets of $18.2M (revenue +6.7% year-over-year).
• 2015: Revenue of $13.6M, expenses of $11.2M, and assets of $15.5M (revenue -12.3% year-over-year).
• 2014: Revenue of $15.5M, expenses of $14.1M, and assets of $14.6M (revenue +23.0% year-over-year).
• 2013: Revenue of $12.6M, expenses of $13.5M, and assets of $13.0M (revenue +2.6% year-over-year).
• 2012: Revenue of $12.3M, expenses of $12.9M, and assets of $13.3M (revenue +19.8% year-over-year).
• 2011: Revenue of $10.3M, expenses of $12.5M, and assets of $13.7M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Steamfitters Welfare Fund Local Union No 475:

Data Sources and Methodology

This transparency report for Steamfitters Welfare Fund Local Union No 475 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.