Is Local 338 Health And Welfare Fund Legit?

Local 338 Health And Welfare Fund demonstrates consistent financial activity, with revenues and expenses generally in the range of $30-50 million annually over the past decade. In the most recent filing (202312), the organization reported revenues of $41,514,409 against expenses of $45,983,716, indicating a deficit for that period. However, this follows a surplus in 202212 where revenues of $45,624,423 exceeded expenses of $39,438,342. The organization maintains substantial assets, reported at $44,408,603 in 202312, with relatively low liabilities of $620,084, suggesting a strong balance sheet. The consistent reporting of 0% officer compensation across all available filings indicates a high degree of financial efficiency in terms of executive pay, as no funds are allocated for this purpose. This also points to a strong commitment to directing resources towards its primary mission. While specific program spending details are not provided in the summary data, the absence of officer compensation is a positive indicator of resource allocation. The organization's consistent filing history further suggests good governance and transparency.