H&Gl Welfare Fund
H&Gl Welfare Fund: Strong Financials, High Program Spending
EIN: 221481564 · Newark, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $576.4M |
| Total Expenses | $215.7M |
| Program Spending | 95% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $268.5M |
| Transparency Score | 85/100 |
Is H&Gl Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
H&Gl Welfare Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About H&Gl Welfare Fund
H&Gl Welfare Fund (EIN: 221481564) is a nonprofit organization based in Newark, NJ. The organization reported total revenue of $576.4M and total assets of $367.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of H&Gl Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
H&Gl 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 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $226.6M |
| Total Expenses | $215.7M |
| Surplus / Deficit | +$10.9M |
| Total Assets | $320.0M |
| Total Liabilities | $51.5M |
| Net Assets | $268.5M |
| Operating Margin | 4.8% |
| Debt-to-Asset Ratio | 16.1% |
| Months of Reserves | 17.8 months |
Financial Health Grade: A
In 2023, H&Gl Welfare Fund reported a surplus of $10.9M with revenue exceeding expenses, holds 17.8 months of operating reserves (strong position), has a debt-to-asset ratio of 16.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), H&Gl Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | +5.5% | +2.1% |
| 2022 | +5.9% | +9.9% | +3.4% |
| 2021 | -1.6% | +2.1% | +12.1% |
| 2020 | +14.6% | +11.0% | +9.5% |
| 2019 | +8.4% | +4.6% | +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 H&Gl 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: 3%
- programs: 95%
- fundraising: 2%
According to IRS 990 filings, H&Gl Welfare Fund allocates its expenses as follows: admin: 3%, programs: 95%, fundraising: 2%. With 95% 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 $10.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.1%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which is unusual for an organization of this size and requires clarification on how leadership is compensated.
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 H&Gl Welfare Fund's IRS 990 filings:
- Consistent reporting of $0 for all officer, director, trustee, and key employee compensation raises questions about the true compensation structure or reporting accuracy.
Strengths
The following positive indicators were identified for H&Gl Welfare Fund:
- Consistently high percentage of expenses allocated to programs (e.g., 95% in 2023).
- Significant growth in revenue from $147,869,400 in 2016 to $226,578,670 in 2023.
- Healthy asset growth from $180,011,019 in 2016 to $320,028,510 in 2023.
Frequently Asked Questions about H&Gl Welfare Fund
Is H&Gl Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, H&Gl Welfare Fund (EIN: 221481564) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does H&Gl Welfare Fund spend its money?
H&Gl Welfare Fund directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to H&Gl Welfare Fund tax-deductible?
H&Gl Welfare Fund is registered as a tax-exempt nonprofit (EIN: 221481564). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the H&Gl Welfare Fund CEO make?
H&Gl Welfare Fund's highest-compensated officer earns $0 annually. The organization reported $576.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of H&Gl Welfare Fund's spending goes to programs?
H&Gl Welfare Fund directs 95% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is H&Gl Welfare Fund located?
H&Gl Welfare Fund is headquartered in Newark, New Jersey and files with the IRS under EIN 221481564.
How many years of IRS 990 filings does H&Gl Welfare Fund have?
H&Gl Welfare Fund has 13 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 $576.4M in total revenue.
What does H&Gl Welfare Fund do?
H&Gl Welfare Fund is a nonprofit organization in the Unknown sector, located in Newark, New Jersey. It is classified under NTEE code Unknown.
How much revenue does H&Gl Welfare Fund have?
H&Gl Welfare Fund reported total revenue of $576,360,029. Based on 13 IRS 990 filings on record.
What are H&Gl Welfare Fund's total assets?
H&Gl Welfare Fund holds total assets of $367,808,806 as reported in IRS 990 filings.
Where is H&Gl Welfare Fund located?
H&Gl Welfare Fund is based in Newark, New Jersey.
What is H&Gl Welfare Fund's EIN?
H&Gl Welfare Fund's Employer Identification Number (EIN) is 221481564. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is H&Gl Welfare Fund?
H&Gl Welfare Fund is classified under NTEE code Unknown (Unknown).
Is H&Gl Welfare Fund a registered 501(c)(3)?
H&Gl Welfare Fund appears in IRS records (EIN: 221481564). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does H&Gl Welfare Fund file IRS Form 990?
Yes, H&Gl Welfare Fund has 13 IRS Form 990 filings on record. The most recent covers tax period 202303.
What was H&Gl Welfare Fund's revenue in 2023?
In the 202303 filing period, H&Gl Welfare Fund reported total revenue of $226,578,670, total expenses of $215,670,065, and net assets of $320,028,510.
Is H&Gl Welfare Fund's revenue growing or declining?
H&Gl Welfare Fund's revenue is relatively stable. Revenue went from $218,623,615 (202203) to $226,578,670 (202303), a +3.6% change. Based on 13 filings on record.
What is H&Gl Welfare Fund's most recent 990 filing?
The most recent IRS Form 990 filing for H&Gl Welfare Fund covers tax period 202303. It shows revenue of $226,578,670, expenses of $215,670,065, total assets of $320,028,510, and liabilities of $51,509,066.
How much does H&Gl Welfare Fund spend on programs vs administration?
Based on IRS 990 analysis, H&Gl Welfare Fund allocates approximately 95% of expenses to program services, 3% to administrative costs, and 2% to fundraising. This indicates strong program focus.
Is H&Gl Welfare Fund a trustworthy charity?
Based on AI analysis of IRS 990 data, H&Gl Welfare Fund appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 3 strengths noted.
What are the red flags for H&Gl Welfare Fund?
The following concerns were identified: Consistent reporting of $0 for all officer, director, trustee, and key employee compensation raises questions about the true compensation structure or reporting accuracy.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are H&Gl Welfare Fund's strengths?
Positive indicators for H&Gl Welfare Fund include: Consistently high percentage of expenses allocated to programs (e.g., 95% in 2023).. Significant growth in revenue from $147,869,400 in 2016 to $226,578,670 in 2023.. Healthy asset growth from $180,011,019 in 2016 to $320,028,510 in 2023.. These findings are derived from AI analysis of the organization's financial filings.
How does H&Gl Welfare Fund compensate executives?
Executive compensation is reported as $0 across all available filings, which is unusual for an organization of this size and requires clarification on how leadership is compensated. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for all executive compensation, how does H&Gl Welfare Fund attract and retain leadership, and what is the actual mechanism for compensating its key personnel?
The filings indicate that no compensation is paid to officers, directors, trustees, or key employees. This suggests that leadership may be entirely volunteer-based, compensated through a related entity not disclosed in these specific sections, or that the compensation is reported under a different category not typically associated with executive pay.
Filing History
IRS 990 filing history for H&Gl Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), H&Gl Welfare Fund's revenue has grown by 136%, moving from $96.0M to $226.6M. Total assets increased by 210% over the same period, from $103.3M to $320.0M. Total functional expenses rose by 146.1%, from $87.6M to $215.7M. In its most recent filing year (2023), H&Gl Welfare Fund reported a surplus of $10.9M, with revenue exceeding expenses. The organization holds $51.5M in liabilities against $320.0M in assets (debt-to-asset ratio: 16.1%), resulting in net assets of $268.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $226.6M | $215.7M | $320.0M | $51.5M | — | View 990 |
| 2022 | $218.6M | $204.4M | $313.4M | $47.5M | — | View 990 |
| 2021 | $206.5M | $186.1M | $303.3M | $40.6M | — | View 990 |
| 2020 | $209.9M | $182.1M | $270.6M | $42.6M | — | — |
| 2019 | $183.1M | $164.1M | $247.1M | $41.2M | — | View 990 |
| 2018 | $169.0M | $156.9M | $213.6M | $31.8M | — | View 990 |
| 2017 | $150.7M | $135.6M | $198.6M | $30.4M | — | View 990 |
| 2016 | $147.9M | $129.5M | $180.0M | $32.0M | — | View 990 |
| 2015 | $134.6M | $119.9M | $159.5M | $27.0M | — | View 990 |
| 2014 | $116.8M | $105.0M | $150.5M | $33.3M | — | View 990 |
| 2013 | $106.0M | $93.1M | $127.6M | $25.0M | — | View 990 |
| 2012 | $105.3M | $97.8M | $115.4M | $26.1M | — | View 990 |
| 2011 | $96.0M | $87.6M | $103.3M | $21.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $226.6M, expenses of $215.7M, and assets of $320.0M (revenue +3.6% year-over-year).
- 2022: Revenue of $218.6M, expenses of $204.4M, and assets of $313.4M (revenue +5.9% year-over-year).
- 2021: Revenue of $206.5M, expenses of $186.1M, and assets of $303.3M (revenue -1.6% year-over-year).
- 2020: Revenue of $209.9M, expenses of $182.1M, and assets of $270.6M (revenue +14.6% year-over-year).
- 2019: Revenue of $183.1M, expenses of $164.1M, and assets of $247.1M (revenue +8.4% year-over-year).
- 2018: Revenue of $169.0M, expenses of $156.9M, and assets of $213.6M (revenue +12.2% year-over-year).
- 2017: Revenue of $150.7M, expenses of $135.6M, and assets of $198.6M (revenue +1.9% year-over-year).
- 2016: Revenue of $147.9M, expenses of $129.5M, and assets of $180.0M (revenue +9.9% year-over-year).
- 2015: Revenue of $134.6M, expenses of $119.9M, and assets of $159.5M (revenue +15.2% year-over-year).
- 2014: Revenue of $116.8M, expenses of $105.0M, and assets of $150.5M (revenue +10.2% year-over-year).
- 2013: Revenue of $106.0M, expenses of $93.1M, and assets of $127.6M (revenue +0.7% year-over-year).
- 2012: Revenue of $105.3M, expenses of $97.8M, and assets of $115.4M (revenue +9.6% year-over-year).
- 2011: Revenue of $96.0M, expenses of $87.6M, and assets of $103.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for H&Gl Welfare Fund:
Data Sources and Methodology
This transparency report for H&Gl 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.