Ibew Local No 456 Supplemental Welfare Fund
Ibew Local No 456 Supplemental Welfare Fund shows fluctuating financial performance typical of a benefit fund, with no reported officer compensation.
EIN: 200500732 · West Trenton, NJ · NTEE: Y43 · Updated: 2026-03-28
Is Ibew Local No 456 Supplemental Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ibew Local No 456 Supplemental Welfare Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ibew Local No 456 Supplemental Welfare Fund
Ibew Local No 456 Supplemental Welfare Fund (EIN: 200500732) is a nonprofit organization based in West Trenton, NJ, classified under NTEE code Y43. The organization reported total revenue of $11.5M and total assets of $11.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ibew Local No 456 Supplemental Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ibew Local No 456 Supplemental Welfare Fund is a large nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 20.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.8M |
| Total Expenses | $7.8M |
| Surplus / Deficit | +$3.0M |
| Total Assets | $7.9M |
| Total Liabilities | $911K |
| Net Assets | $7.0M |
| Operating Margin | 27.9% |
| Debt-to-Asset Ratio | 11.6% |
| Months of Reserves | 12.1 months |
Financial Health Grade: A
In 2023, Ibew Local No 456 Supplemental Welfare Fund reported a surplus of $3.0M with revenue exceeding expenses, holds 12.1 months of operating reserves (strong position), has a debt-to-asset ratio of 11.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ibew Local No 456 Supplemental Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 20.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +82.0% | -9.9% | +70.2% |
| 2022 | +13.1% | +28.0% | -44.0% |
| 2021 | -23.6% | +4.4% | -17.6% |
| 2020 | +21.7% | -4.7% | +7.0% |
| 2019 | +16.7% | -4.5% | -6.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Ibew Local No 456 Supplemental 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Ibew Local No 456 Supplemental Welfare Fund allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. 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 $3.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.6%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation directly from the fund, which is highly favorable for resource allocation.
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 Ibew Local No 456 Supplemental Welfare Fund's IRS 990 filings:
- Significant year-over-year fluctuations in assets and liabilities, indicating potential volatility in fund management or benefit demands.
Strengths
The following positive indicators were identified for Ibew Local No 456 Supplemental Welfare Fund:
- Consistent reporting of 0% officer compensation, indicating excellent resource allocation at the executive level.
- Strong revenue growth in the latest filing period (2023: $10.8M vs 2022: $5.9M), suggesting improved financial inflows.
- Consistent filing of IRS Form 990s, demonstrating transparency and compliance.
- Positive net income in the latest filing (2023: $10.8M revenue vs $7.8M expenses), rebuilding reserves.
Frequently Asked Questions about Ibew Local No 456 Supplemental Welfare Fund
Is Ibew Local No 456 Supplemental Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Ibew Local No 456 Supplemental Welfare Fund (EIN: 200500732) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Ibew Local No 456 Supplemental Welfare Fund spend its money?
Ibew Local No 456 Supplemental Welfare Fund directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ibew Local No 456 Supplemental Welfare Fund tax-deductible?
Ibew Local No 456 Supplemental Welfare Fund is registered as a tax-exempt nonprofit (EIN: 200500732). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Ibew Local No 456 Supplemental Welfare Fund financially stable?
The fund's financial stability fluctuates, as seen by periods where expenses exceeded revenue (e.g., 2022 with $8.6M expenses vs $5.9M revenue) and periods of surplus (e.g., 2023 with $10.8M revenue vs $7.8M expenses). Its assets have also varied significantly, from $12.6M in 2017 to $4.6M in 2022, indicating a dynamic financial position typical of a welfare fund managing benefits.
How efficiently does the fund use its money?
The fund appears highly efficient in its spending, primarily due to the nature of a welfare fund where most expenses are direct benefit payouts. The consistent reporting of 0% officer compensation across all filings suggests very low administrative overhead at the executive level, maximizing funds available for its beneficiaries.
What are the primary expenses of this organization?
As a supplemental welfare fund, the primary expenses are almost certainly benefit payouts to its members. While specific program vs. administrative breakdowns aren't detailed in the provided summary, the NTEE code Y43 (Employee & Member Welfare Organizations) strongly implies that the vast majority of expenses are directly related to providing welfare benefits.
Has the organization's revenue been consistent?
No, the organization's revenue has varied significantly over the years, from a low of $885,816 in 2016 to a high of $10,821,336 in 2023. This fluctuation is common for welfare funds, which depend on contributions and investment performance.
Filing History
IRS 990 filing history for Ibew Local No 456 Supplemental Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ibew Local No 456 Supplemental Welfare Fund's revenue has grown by 850.8%, moving from $1.1M to $10.8M. Total assets increased by 238.8% over the same period, from $2.3M to $7.9M. Total functional expenses rose by 2457.2%, from $305K to $7.8M. In its most recent filing year (2023), Ibew Local No 456 Supplemental Welfare Fund reported a surplus of $3.0M, with revenue exceeding expenses. The organization holds $911K in liabilities against $7.9M in assets (debt-to-asset ratio: 11.6%), resulting in net assets of $7.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.8M | $7.8M | $7.9M | $911K | — | — |
| 2022 | $5.9M | $8.7M | $4.6M | $909K | — | View 990 |
| 2021 | $5.3M | $6.8M | $8.3M | $865K | — | View 990 |
| 2020 | $6.9M | $6.5M | $10.0M | $813K | — | View 990 |
| 2019 | $5.6M | $6.8M | $9.4M | $1.0M | — | — |
| 2018 | $4.8M | $7.1M | $10.0M | $1.1M | — | View 990 |
| 2017 | $2.2M | $3.6M | $12.7M | $384K | — | View 990 |
| 2016 | $886K | $384K | $12.3M | $19K | — | View 990 |
| 2015 | $1.9M | $389K | $11.5M | $17K | — | View 990 |
| 2014 | $2.3M | $359K | $10.3M | $27K | — | View 990 |
| 2013 | $2.8M | $388K | $8.1M | $20K | — | View 990 |
| 2012 | $3.4M | $418K | $5.4M | $31K | — | View 990 |
| 2011 | $1.1M | $305K | $2.3M | $14K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.8M, expenses of $7.8M, and assets of $7.9M (revenue +82.0% year-over-year).
- 2022: Revenue of $5.9M, expenses of $8.7M, and assets of $4.6M (revenue +13.1% year-over-year).
- 2021: Revenue of $5.3M, expenses of $6.8M, and assets of $8.3M (revenue -23.6% year-over-year).
- 2020: Revenue of $6.9M, expenses of $6.5M, and assets of $10.0M (revenue +21.7% year-over-year).
- 2019: Revenue of $5.6M, expenses of $6.8M, and assets of $9.4M (revenue +16.7% year-over-year).
- 2018: Revenue of $4.8M, expenses of $7.1M, and assets of $10.0M (revenue +116.2% year-over-year).
- 2017: Revenue of $2.2M, expenses of $3.6M, and assets of $12.7M (revenue +152.8% year-over-year).
- 2016: Revenue of $886K, expenses of $384K, and assets of $12.3M (revenue -52.8% year-over-year).
- 2015: Revenue of $1.9M, expenses of $389K, and assets of $11.5M (revenue -18.4% year-over-year).
- 2014: Revenue of $2.3M, expenses of $359K, and assets of $10.3M (revenue -19.3% year-over-year).
- 2013: Revenue of $2.8M, expenses of $388K, and assets of $8.1M (revenue -16.2% year-over-year).
- 2012: Revenue of $3.4M, expenses of $418K, and assets of $5.4M (revenue +198.6% year-over-year).
- 2011: Revenue of $1.1M, expenses of $305K, and assets of $2.3M.
Data Sources and Methodology
This transparency report for Ibew Local No 456 Supplemental 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.