General Building Laborers 66 Welfare Fund
General Building Laborers 66 Welfare Fund consistently maintains financial stability with growing assets and no reported officer compensation.
EIN: 111627279 · Melville, NY · Updated: 2026-03-28
Is General Building Laborers 66 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
General Building Laborers 66 Welfare Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About General Building Laborers 66 Welfare Fund
General Building Laborers 66 Welfare Fund (EIN: 111627279) is a nonprofit organization based in Melville, NY. The organization reported total revenue of $76.0M and total assets of $41.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of General Building Laborers 66 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
General Building Laborers 66 Welfare Fund is a major nonprofit that has been operating for 74 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15.6M |
| Total Expenses | $13.3M |
| Surplus / Deficit | +$2.2M |
| Total Assets | $34.9M |
| Total Liabilities | $4.3M |
| Net Assets | $30.6M |
| Operating Margin | 14.4% |
| Debt-to-Asset Ratio | 12.4% |
| Months of Reserves | 31.4 months |
Financial Health Grade: A
In 2023, General Building Laborers 66 Welfare Fund reported a surplus of $2.2M with revenue exceeding expenses, holds 31.4 months of operating reserves (strong position), has a debt-to-asset ratio of 12.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), General Building Laborers 66 Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.8% | -17.1% | +12.5% |
| 2022 | +8.3% | +16.5% | -3.8% |
| 2021 | -0.5% | +4.9% | +16.4% |
| 2020 | -9.5% | -7.8% | +13.8% |
| 2019 | +2.9% | +2.0% | +15.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1952 |
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 General Building Laborers 66 Welfare Fund with a Mission Score of 75 out of 100 (Good). 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: 85%
- fundraising: 0%
According to IRS 990 filings, General Building Laborers 66 Welfare Fund allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% 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 $2.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not categorized as officer compensation on the 990, which is unusual for an organization of its size with over $15 million in annual revenue.
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 General Building Laborers 66 Welfare Fund's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in summary data
- Consistent 0% officer compensation for an organization of this size, which may obscure executive remuneration practices
Strengths
The following positive indicators were identified for General Building Laborers 66 Welfare Fund:
- Consistent financial stability with revenue exceeding expenses in all reported periods.
- Significant growth in net assets, from $14,164,587 in 2014 to $34,929,679 in 2023.
- Low liabilities relative to assets, indicating a strong balance sheet.
- Consistent filing of IRS 990s, demonstrating regulatory compliance.
Frequently Asked Questions about General Building Laborers 66 Welfare Fund
Is General Building Laborers 66 Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, General Building Laborers 66 Welfare Fund (EIN: 111627279) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does General Building Laborers 66 Welfare Fund spend its money?
General Building Laborers 66 Welfare Fund directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to General Building Laborers 66 Welfare Fund tax-deductible?
General Building Laborers 66 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 111627279). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What specific welfare programs does the General Building Laborers 66 Welfare Fund support?
The provided data does not detail the specific welfare programs. Further investigation into the full IRS 990 forms would be necessary to understand the nature of their programmatic spending.
How does the organization manage its administrative costs given its consistent revenue and asset growth?
Without a detailed breakdown of expenses, it's challenging to pinpoint specific administrative cost management strategies. However, the consistent surplus of revenue over expenses suggests effective overall cost control relative to income.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is notable. This could mean that officers are volunteers, compensated through a related entity, or that compensation is categorized differently on the 990. This warrants further inquiry into the full 990 forms.
Filing History
IRS 990 filing history for General Building Laborers 66 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), General Building Laborers 66 Welfare Fund's revenue has grown by 23%, moving from $12.7M to $15.6M. Total assets increased by 162.8% over the same period, from $13.3M to $34.9M. Total functional expenses rose by 1.1%, from $13.2M to $13.3M. In its most recent filing year (2023), General Building Laborers 66 Welfare Fund reported a surplus of $2.2M, with revenue exceeding expenses. The organization holds $4.3M in liabilities against $34.9M in assets (debt-to-asset ratio: 12.4%), resulting in net assets of $30.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15.6M | $13.3M | $34.9M | $4.3M | — | View 990 |
| 2022 | $17.1M | $16.1M | $31.1M | $4.8M | — | View 990 |
| 2021 | $15.8M | $13.8M | $32.3M | $4.4M | — | View 990 |
| 2020 | $15.8M | $13.2M | $27.7M | $3.8M | — | — |
| 2019 | $17.5M | $14.3M | $24.4M | $4.0M | — | View 990 |
| 2018 | $17.0M | $14.0M | $21.1M | $4.9M | — | View 990 |
| 2017 | $18.1M | $16.3M | $18.2M | $4.8M | — | View 990 |
| 2016 | $17.4M | $16.4M | $16.4M | $5.3M | — | View 990 |
| 2015 | $16.3M | $14.9M | $16.6M | $6.6M | — | View 990 |
| 2014 | $15.3M | $14.6M | $14.2M | $5.8M | — | View 990 |
| 2013 | $13.8M | $14.3M | $12.9M | $5.8M | — | View 990 |
| 2012 | $13.3M | $14.7M | $12.5M | $5.3M | — | View 990 |
| 2011 | $12.7M | $13.2M | $13.3M | $4.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15.6M, expenses of $13.3M, and assets of $34.9M (revenue -8.8% year-over-year).
- 2022: Revenue of $17.1M, expenses of $16.1M, and assets of $31.1M (revenue +8.3% year-over-year).
- 2021: Revenue of $15.8M, expenses of $13.8M, and assets of $32.3M (revenue -0.5% year-over-year).
- 2020: Revenue of $15.8M, expenses of $13.2M, and assets of $27.7M (revenue -9.5% year-over-year).
- 2019: Revenue of $17.5M, expenses of $14.3M, and assets of $24.4M (revenue +2.9% year-over-year).
- 2018: Revenue of $17.0M, expenses of $14.0M, and assets of $21.1M (revenue -5.8% year-over-year).
- 2017: Revenue of $18.1M, expenses of $16.3M, and assets of $18.2M (revenue +4.1% year-over-year).
- 2016: Revenue of $17.4M, expenses of $16.4M, and assets of $16.4M (revenue +6.2% year-over-year).
- 2015: Revenue of $16.3M, expenses of $14.9M, and assets of $16.6M (revenue +7.1% year-over-year).
- 2014: Revenue of $15.3M, expenses of $14.6M, and assets of $14.2M (revenue +10.5% year-over-year).
- 2013: Revenue of $13.8M, expenses of $14.3M, and assets of $12.9M (revenue +3.7% year-over-year).
- 2012: Revenue of $13.3M, expenses of $14.7M, and assets of $12.5M (revenue +5.2% year-over-year).
- 2011: Revenue of $12.7M, expenses of $13.2M, and assets of $13.3M.
Data Sources and Methodology
This transparency report for General Building Laborers 66 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.