Basil Castrovinci Associates Welfare Fund

Basil Castrovinci Associates Welfare Fund maintains strong asset growth with no reported officer compensation.

EIN: 136111622 · Hopatcong, NJ · Updated: 2026-03-28

$389KRevenue

$2.3MAssets

85/100Mission Score (Excellent)

About Basil Castrovinci Associates Welfare Fund

Basil Castrovinci Associates Welfare Fund (EIN: 136111622) is a nonprofit organization based in Hopatcong, NJ. The organization reported total revenue of $389K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Basil Castrovinci Associates Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Basil Castrovinci Associates Welfare Fund demonstrates consistent financial stability with a healthy asset base and no reported liabilities across all available filings. The organization consistently generates more revenue than expenses, as seen in the 202312 period where revenue was $594,574 against expenses of $306,461, contributing to asset growth. While specific program spending details are not provided in the summary data, the absence of officer compensation indicates a lean operational structure regarding executive pay. The organization's financial health appears robust, with assets steadily increasing over the years, from $1,400,837 in 2013 to $2,229,323 in 2023.

However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, it is challenging to fully assess spending efficiency. The consistent positive net income suggests effective management of resources relative to its operational scope. The lack of reported officer compensation is a positive indicator of financial stewardship and transparency regarding executive pay. Further analysis would require access to the full 990 forms to understand the allocation of expenses and the nature of its welfare fund activities.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Basil Castrovinci Associates Welfare Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Basil Castrovinci Associates Welfare Fund allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a strong positive for financial stewardship.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Basil Castrovinci Associates Welfare Fund's IRS 990 filings:

Lack of detailed expense breakdown in summary data
NTEE Code is unknown, making it difficult to benchmark against similar organizations

Strengths

The following positive indicators were identified for Basil Castrovinci Associates Welfare Fund:

Consistent asset growth, from $1,400,837 in 2013 to $2,229,323 in 2023
No reported liabilities across all filing periods
No officer compensation reported, indicating efficient executive cost management
Revenue consistently exceeds expenses, demonstrating financial stability (e.g., $594,574 revenue vs. $306,461 expenses in 2023)

Frequently Asked Questions about Basil Castrovinci Associates Welfare Fund

What are the specific welfare programs or benefits provided by the fund?

The provided data does not detail the specific welfare programs or benefits. This information would typically be found in the full IRS Form 990, Part III, Statement of Program Service Accomplishments.

How does the organization manage its significant asset base?

The organization has consistently grown its assets, reaching $2,229,323 in 2023. The specific investment strategies or asset management practices are not detailed in the summary data but the growth suggests prudent financial management.

What is the breakdown of expenses beyond total expenses?

The summary data only provides total expenses (e.g., $306,461 in 2023). A detailed breakdown into program, administrative, and fundraising expenses would require reviewing the full IRS Form 990, Part IX, Statement of Functional Expenses.

Filing History

IRS 990 filing history for Basil Castrovinci Associates Welfare Fund showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2023), Basil Castrovinci Associates Welfare Fund's revenue has grown by 143.4%, moving from $244K to $595K. Total assets increased by 87.1% over the same period, from $1.2M to $2.2M. Total functional expenses rose by 46.9%, from $209K to $306K. In its most recent filing year (2023), Basil Castrovinci Associates Welfare Fund reported a surplus of $288K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$595K	$306K	$2.2M	$0	—	View 990
2021	$507K	$318K	$2.6M	$0	—	View 990
2020	$534K	$310K	$2.4M	$0	—	—
2019	$270K	$275K	$2.2M	$0	—	View 990
2018	$273K	$260K	$1.9M	$0	—	View 990
2017	$287K	$234K	$1.9M	$0	—	View 990
2016	$233K	$219K	$1.8M	$0	—	View 990
2015	$438K	$201K	$1.7M	$0	—	View 990
2014	$282K	$221K	$1.5M	$0	—	View 990
2013	$408K	$236K	$1.4M	$0	—	View 990
2012	$227K	$189K	$1.2M	$0	—	View 990
2011	$244K	$209K	$1.2M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $595K, expenses of $306K, and assets of $2.2M (revenue +17.4% year-over-year).
2021: Revenue of $507K, expenses of $318K, and assets of $2.6M (revenue -5.1% year-over-year).
2020: Revenue of $534K, expenses of $310K, and assets of $2.4M (revenue +97.4% year-over-year).
2019: Revenue of $270K, expenses of $275K, and assets of $2.2M (revenue -1.1% year-over-year).
2018: Revenue of $273K, expenses of $260K, and assets of $1.9M (revenue -4.7% year-over-year).
2017: Revenue of $287K, expenses of $234K, and assets of $1.9M (revenue +23.2% year-over-year).
2016: Revenue of $233K, expenses of $219K, and assets of $1.8M (revenue -46.8% year-over-year).
2015: Revenue of $438K, expenses of $201K, and assets of $1.7M (revenue +55.2% year-over-year).
2014: Revenue of $282K, expenses of $221K, and assets of $1.5M (revenue -30.8% year-over-year).
2013: Revenue of $408K, expenses of $236K, and assets of $1.4M (revenue +79.8% year-over-year).
2012: Revenue of $227K, expenses of $189K, and assets of $1.2M (revenue -7.2% year-over-year).
2011: Revenue of $244K, expenses of $209K, and assets of $1.2M.

Data Sources and Methodology

This transparency report for Basil Castrovinci Associates Welfare Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.