Is U A Plumbers And Steamfitters Local 22 Health Fund Legit?

U A Plumbers And Steamfitters Local 22 Health Fund demonstrates consistent financial growth and strong program spending, typical for an employee benefit fund. In the latest filing (Period 202404), the organization reported revenue of $19,740,589 against expenses of $16,005,502, indicating a healthy surplus. Its assets have steadily increased, reaching $25,573,786 in 2024, up from $13,337,180 in 2015, showing robust financial management and accumulation of reserves. The organization's primary function, as a health fund, inherently focuses on direct benefits to members, which aligns with high program spending. The fund's spending efficiency is excellent, with virtually all expenses directed towards its core mission of providing health benefits. The absence of reported officer compensation across all filings suggests that administrative costs are minimal and likely absorbed within broader operational expenses, or that officers are compensated through other means not reported on the 990 as direct compensation from this specific fund. This structure contributes to a very high program spending ratio, which is a positive indicator for beneficiaries. Transparency is generally good through its consistent IRS 990 filings. The detailed financial figures provided over more than a decade allow for clear trend analysis. The lack of reported officer compensation, while efficient, could raise questions about how leadership is compensated if not directly by the fund, though for a health fund, this often means compensation is handled by the union or related entities. Overall, the fund appears financially sound and highly efficient in its primary purpose.