Intumescent fire retardant latex paint has a mold inhibitor in an amount sufficient to kill, control, or prevent growth of mold, mildew or fungus after the intumescent fire retardant latex paint having mold inhibitor is applied to, and dried and reached a constant mass on a substrate. The paint can be in a form of a finish paint or primer. For example, the mold may be toxic black mold (Stachybotrys chartarum), and the mold inhibitor may be alkyldimethylbenzylammonium chloride as an 80% by weight mixture added at about 3% by weight of a base fire retardant latex paint formulation. Such a paint can be made by contacting latex paint-forming ingredients with a fire retardant and a mold inhibitor, under conditions sufficient to form the paint; and can be used by contacting it with a substrate under conditions sufficient to be flame retardant or mold inhibitory, or both. An article of manufacture can include, in combination, the paint having the mold inhibitor, or its residue, and the substrate.