Is General Building Laborers 66 Welfare Fund Legit?

The General Building Laborers 66 Welfare Fund appears to be a financially stable organization, consistently reporting positive net assets over the past decade. In the latest filing (202306), the organization reported revenue of $15,570,379 against expenses of $13,333,606, indicating a surplus. Its assets have shown consistent growth, reaching $34,929,679 in 2023, up from $14,164,587 in 2014. This growth in assets, coupled with a relatively stable liability profile, suggests prudent financial management. Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent surplus of revenue over expenses across multiple years suggests that the organization is managing its operational costs effectively relative to its income. The absence of reported officer compensation is a notable point regarding executive spending. Transparency, based solely on the provided data, is moderate. While financial figures are available through IRS 990 filings, the lack of NTEE code and detailed expense categories (program vs. admin vs. fundraising) limits a deeper understanding of its operational focus and efficiency. The consistent filing of 990s demonstrates a commitment to regulatory transparency.