Is Local 1205 Welfare Plan Legit?

Local 1205 Welfare Plan demonstrates consistent financial activity, with revenues and expenses generally in the range of $17-23 million over the past decade. The organization's assets have shown growth, reaching $36,055,749 in 2023, indicating a stable financial base. However, the NTEE code is unknown, which limits a precise understanding of its programmatic focus and makes it difficult to benchmark against similar organizations. The consistent reporting of 0% officer compensation across all available filings suggests a high degree of transparency regarding executive pay, or that compensation is structured differently and not reported in this section, which warrants further investigation for a complete picture of financial health. Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. While the organization consistently reports significant expenses, without knowing the proportion dedicated to direct welfare benefits versus overhead, a definitive conclusion on efficiency cannot be drawn. The organization's liabilities have remained relatively stable, ranging from $3.5 million to $4.5 million, which appears manageable given its asset base. Overall, the organization appears financially stable with a growing asset base and consistent revenue streams. The lack of detailed spending breakdown and an unknown NTEE code are areas that could be improved for enhanced transparency and a more thorough financial analysis. The consistent reporting of zero officer compensation is a positive indicator of transparency in that specific area.