Is Local 342 Health Care Fund Legit? —…

Strengths

Consistent revenue generation, with latest revenue at $25,496,037.
Significant asset growth, from $1,139,301 in 201912 to $8,305,802 in 202312.
Zero officer compensation reported across all filings, indicating high efficiency and mission focus.
Consistent financial surpluses, such as $5,035,992 in 202312 (Revenue $25,496,037 - Expenses $20,460,035).
Low liabilities relative to assets, indicating strong financial health (e.g., Liabilities $230,010 vs. Assets $8,305,802 in 202312).

Spending Breakdown

How Local 342 Health Care Fund allocates its funds across programs, administration, and fundraising.

95%

Program Spending

Healthy — majority goes to mission

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Local 342 Health Care Fund

Is Local 342 Health Care Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Local 342 Health Care Fund (EIN: 135626340) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.

Is Local 342 Health Care Fund a good charity to donate to?

Local 342 Health Care Fund has a Mission Score of 90/100. Revenue: $26.6M. Assets: $10.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Local 342 Health Care Fund?

The Employer Identification Number (EIN) for Local 342 Health Care Fund is 135626340. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Local 342 Health Care Fund spend its money?

Local 342 Health Care Fund allocates 95% to programs, 5% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Local 342 Health Care Fund's tax-exempt status?

You can verify Local 342 Health Care Fund's tax-exempt status using EIN 135626340 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Local 342 Health Care Fund demonstrates a generally stable financial position, with consistent revenue streams over the past decade. In the most recent filing (202312), the organization reported revenue of $25,496,037 against expenses of $20,460,035, indicating a healthy surplus for the period. This surplus has contributed to a significant increase in assets, growing from $1,139,301 in 201912 to $8,305,802 in 202312, suggesting effective financial management and accumulation of reserves. The organization consistently reports 0% officer compensation, which is a strong indicator of financial efficiency and a commitment to directing funds towards its mission rather than executive salaries.

The fund's spending efficiency appears robust, with expenses generally tracking below or closely aligned with revenue, preventing significant deficits. The substantial increase in assets over recent years, particularly from 202212 ($3,307,873) to 202312 ($8,305,802), highlights a positive trend in financial growth and stability. While specific program, administrative, and fundraising expense breakdowns are not provided in the raw data, the overall financial health, marked by consistent surpluses and asset growth, suggests a well-managed operation. The absence of officer compensation further enhances its transparency and efficiency profile.

Given the nature of a health care fund, it's presumed that the vast majority of expenses are directly related to providing health benefits or services to its members. The consistent financial performance and the lack of executive compensation indicate a strong focus on its core purpose. The organization's ability to grow its assets while maintaining consistent operations points to a sustainable model, which is a positive sign for its long-term viability and capacity to fulfill its mission.

Is Local 342 Health Care Fund Legit?

Verdict: Local 342 Health Care Fund appears trustworthy