AI Transparency Report
Boilermakers Local 83 Supplemental Health And Welfare Fund appears to be a financially stable organization, consistently maintaining substantial assets relative to its annual revenue and expenses. Over the past several years, the organization has reported assets ranging from approximately $12.7 million to $15.2 million, significantly exceeding its annual revenues, which have typically been in the $600,000 to $1.7 million range. This indicates a strong reserve base to support its health and welfare benefits.
The organization's spending patterns show that expenses have often exceeded revenue in recent years, such as in 2023 ($952,168 expenses vs. $691,637 revenue) and 2022 ($1,058,635 expenses vs. $638,317 revenue). While this suggests drawing from reserves, it is not uncommon for health and welfare funds to experience fluctuations in claims and investment income. The consistent reporting of zero officer compensation across all available filings indicates a high degree of financial transparency regarding executive pay, suggesting that administrative costs are likely kept low in this area. Given its NTEE code (Y43 - Employee Benevolent Associations), its primary function is to provide benefits, which would constitute its program service expenses.
Overall, the fund demonstrates a solid financial foundation with substantial assets. The consistent zero officer compensation is a positive indicator of transparency and efficient use of funds in that specific area. While recent years show expenses exceeding revenue, the large asset base provides a buffer, and further detail on the breakdown of expenses (program vs. administrative) would offer a more complete picture of spending efficiency.