Is Local 947 Health & Welfare Fund Legit?

Local 947 Health & Welfare Fund demonstrates a generally stable financial position, with consistent revenue growth observed in recent years, particularly a significant jump from $2,879,144 in 2022 to $5,122,334 in 2023. The organization consistently operates with a surplus, as evidenced by revenues exceeding expenses in most periods, such as $5,122,334 revenue against $4,628,512 expenses in 2023. This surplus contributes to a healthy increase in assets, which grew from $1,009,847 in 2022 to $1,481,730 in 2023, indicating sound financial management and accumulation of resources. The organization's spending efficiency appears strong, with a high proportion of expenses likely directed towards its health and welfare programs, given its NTEE code (Y43 - Employee & Member Welfare Organizations). The consistent reporting of 0% officer compensation across all available filings suggests a lean administrative structure regarding executive pay, which is a positive indicator for donor confidence and resource allocation. The absence of reported liabilities in the latest filing (202309) further underscores a robust financial standing and responsible fiscal practices. Transparency is generally good, with a consistent history of IRS 990 filings. The detailed financial data provided across multiple years allows for a clear understanding of revenue, expenses, and asset trends. The lack of officer compensation reported across all filings enhances transparency by showing that executive pay is not a significant drain on resources, aligning with best practices for non-profit financial stewardship.