Building Services Local 2 Welfare Fund
Building Services Local 2 Welfare Fund shows strong financial growth and zero officer compensation over a decade.
EIN: 111831226 · Ozone Park, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $17.1M |
| Total Expenses | $3.6M |
| Program Spending | 90% |
| Net Assets | $23.9M |
| Transparency Score | 95/100 |
Is Building Services Local 2 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Building Services Local 2 Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Building Services Local 2 Welfare Fund
Building Services Local 2 Welfare Fund (EIN: 111831226) is a nonprofit organization based in Ozone Park, NY. The organization reported total revenue of $17.1M and total assets of $28.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Building Services Local 2 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Building Services Local 2 Welfare Fund is a large nonprofit that has been operating for 68 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.5M |
| Total Expenses | $3.6M |
| Surplus / Deficit | +$2.9M |
| Total Assets | $23.9M |
| Total Liabilities | $70K |
| Net Assets | $23.9M |
| Operating Margin | 44.8% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 80.1 months |
Financial Health Grade: A
In 2023, Building Services Local 2 Welfare Fund reported a surplus of $2.9M with revenue exceeding expenses, holds 80.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Building Services Local 2 Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.6% | -7.2% | +20.6% |
| 2022 | -21.0% | -11.2% | +1.2% |
| 2021 | +4.1% | +4.1% | +12.6% |
| 2020 | +17.2% | -5.8% | +28.0% |
| 2019 | +8.0% | +45.2% | +15.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1958 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Building Services Local 2 Welfare Fund with a Mission Score of 95 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Building Services Local 2 Welfare Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly unusual for an organization of this size and suggests a strong commitment to its welfare mission.
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 Building Services Local 2 Welfare Fund's IRS 990 filings:
- NTEE Code is unknown, limiting detailed sector comparison.
Strengths
The following positive indicators were identified for Building Services Local 2 Welfare Fund:
- Consistent revenue growth, from $4.9M in 2013 to $6.5M in 2023.
- Significant asset accumulation, from $6.8M in 2013 to $23.9M in 2023.
- Zero reported officer compensation across all filings, indicating high efficiency and mission focus.
- Low liabilities across all periods, demonstrating strong financial health.
- Consistent annual surpluses, allowing for asset growth and stability.
Frequently Asked Questions about Building Services Local 2 Welfare Fund
Is Building Services Local 2 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Building Services Local 2 Welfare Fund (EIN: 111831226) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Building Services Local 2 Welfare Fund spend its money?
Building Services Local 2 Welfare Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Building Services Local 2 Welfare Fund tax-deductible?
Building Services Local 2 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 111831226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Building Services Local 2 Welfare Fund located?
Building Services Local 2 Welfare Fund is headquartered in Ozone Park, New York and files with the IRS under EIN 111831226.
How many years of IRS 990 filings does Building Services Local 2 Welfare Fund have?
Building Services Local 2 Welfare Fund has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $17.1M in total revenue.
Is Building Services Local 2 Welfare Fund financially stable?
Yes, the organization is highly financially stable, demonstrated by consistent revenue growth from $4.9M in 2013 to $6.5M in 2023, and significant asset accumulation from $6.8M to $23.9M over the same period, alongside minimal liabilities.
How does executive compensation compare to other nonprofits?
Executive compensation is exceptionally low, at 0% across all reported periods, which is highly favorable and suggests that all funds are directed towards the organization's welfare objectives rather than executive salaries.
What is the trend in the organization's assets?
The organization's assets have shown a strong upward trend, growing from $6,855,213 in 2013 to $23,926,493 in 2023, indicating effective financial management and investment strategies.
Are there any signs of financial mismanagement?
Based on the provided data, there are no apparent signs of financial mismanagement. The organization consistently maintains a healthy surplus, low liabilities, and reports zero officer compensation.
Filing History
IRS 990 filing history for Building Services Local 2 Welfare Fund showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Building Services Local 2 Welfare Fund's revenue has grown by 64.1%, moving from $4.0M to $6.5M. Total assets increased by 317.9% over the same period, from $5.7M to $23.9M. Total functional expenses fell by 4.9%, from $3.8M to $3.6M. In its most recent filing year (2023), Building Services Local 2 Welfare Fund reported a surplus of $2.9M, with revenue exceeding expenses. The organization holds $70K in liabilities against $23.9M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $23.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.5M | $3.6M | $23.9M | $70K | — | — |
| 2022 | $5.9M | $3.9M | $19.8M | $22K | — | View 990 |
| 2021 | $7.5M | $4.4M | $19.6M | $19K | — | View 990 |
| 2020 | $7.2M | $4.2M | $17.4M | $19K | — | View 990 |
| 2019 | $6.2M | $4.4M | $13.6M | $19K | — | View 990 |
| 2018 | $5.7M | $3.1M | $11.8M | $37K | — | View 990 |
| 2017 | $5.4M | $4.4M | $9.5M | $22K | — | View 990 |
| 2015 | $5.4M | $5.0M | $8.4M | $45K | — | View 990 |
| 2014 | $5.4M | $4.2M | $8.0M | $32K | — | View 990 |
| 2013 | $4.9M | $4.2M | $6.9M | $44K | — | View 990 |
| 2012 | $4.5M | $4.1M | $6.1M | $51K | — | View 990 |
| 2011 | $4.0M | $3.8M | $5.7M | $29K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.5M, expenses of $3.6M, and assets of $23.9M (revenue +9.6% year-over-year).
- 2022: Revenue of $5.9M, expenses of $3.9M, and assets of $19.8M (revenue -21.0% year-over-year).
- 2021: Revenue of $7.5M, expenses of $4.4M, and assets of $19.6M (revenue +4.1% year-over-year).
- 2020: Revenue of $7.2M, expenses of $4.2M, and assets of $17.4M (revenue +17.2% year-over-year).
- 2019: Revenue of $6.2M, expenses of $4.4M, and assets of $13.6M (revenue +8.0% year-over-year).
- 2018: Revenue of $5.7M, expenses of $3.1M, and assets of $11.8M (revenue +6.2% year-over-year).
- 2017: Revenue of $5.4M, expenses of $4.4M, and assets of $9.5M (revenue -0.6% year-over-year).
- 2015: Revenue of $5.4M, expenses of $5.0M, and assets of $8.4M (revenue +0.8% year-over-year).
- 2014: Revenue of $5.4M, expenses of $4.2M, and assets of $8.0M (revenue +9.1% year-over-year).
- 2013: Revenue of $4.9M, expenses of $4.2M, and assets of $6.9M (revenue +9.1% year-over-year).
- 2012: Revenue of $4.5M, expenses of $4.1M, and assets of $6.1M (revenue +13.7% year-over-year).
- 2011: Revenue of $4.0M, expenses of $3.8M, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Building Services Local 2 Welfare Fund:
Data Sources and Methodology
This transparency report for Building Services Local 2 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.