AI Transparency Report
The Industry & Local 338 Welfare Fund demonstrates a consistent operational pattern, with revenues generally tracking expenses over the past decade. For instance, in 2023, the organization reported revenues of $2,064,762 against expenses of $2,530,193, indicating a deficit for that period. This trend of expenses occasionally exceeding revenue is visible across several years, such as 2022 ($2,347,592 revenue vs. $2,388,172 expenses) and 2021 ($2,325,540 revenue vs. $2,505,508 expenses). The organization's assets have remained relatively stable, hovering around $7-8 million, suggesting a solid financial base despite year-to-year fluctuations in operating results. A notable strength is the consistent reporting of 0% officer compensation, which enhances transparency and indicates that executive leadership is not drawing salaries from the organization's funds. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency and program focus. The NTEE code being unknown also limits the ability to benchmark against similar organizations.