Is Roofers Local 74203 Welfare Fund Legit?

The Roofers Local 74203 Welfare Fund appears to be a well-managed organization with a consistent financial history, primarily focused on its program services. Over the past decade, its revenue and expenses have remained relatively stable, with the latest filing (202306) showing revenue of $3,884,084 and expenses of $3,244,689, indicating a surplus for the period. The organization consistently reports 0% officer compensation, which is a strong indicator of efficient spending and a commitment to directing funds towards its mission rather than executive salaries. While the NTEE code is unknown, the nature of a 'Welfare Fund' suggests its primary activities are direct benefits or services to its members. Spending efficiency is high, given the zero officer compensation and the implied direct benefit structure. The consistent reporting of liabilities, which are generally low relative to assets, suggests sound financial management. For instance, in 202306, liabilities were only $6,227 against assets of $7,859,964. The organization's assets have fluctuated but remained substantial, providing a solid financial base. The absence of reported officer compensation also contributes significantly to its transparency and accountability profile. Overall, the financial data suggests a stable and efficient operation. The consistent filings over 12 periods demonstrate a commitment to regulatory compliance and transparency. The lack of officer compensation is a significant positive, indicating that the organization's resources are being directly applied to its stated purpose, which is likely member welfare given its name.