Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund

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Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund Form 990, Revenue, CEO Pay, and IRS Filing Signals

Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund in one place.

Is Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund Legit?

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Request a concise report for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund

Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund (EIN: 111628171) is a nonprofit organization based in Hempstead, NY. The organization reported total revenue of $40.4M and total assets of $48.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund is a large nonprofit that has been operating for 75 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund reported a surplus of $5.4M with revenue exceeding expenses, holds 17.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.

IRS Tax-Exempt Classification

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 Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund with a Mission Score of 92 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: 7%
• programs: 90%
• fundraising: 3%

According to IRS 990 filings, Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 $5.4M, with revenue exceeding expenses.
• Debt-to-asset ratio: 1.6%.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no salaries or other compensation are paid to officers, which is highly unusual for an organization of this size ($40M+ revenue, $48M+ assets) and suggests a strong commitment to directing funds to its primary purpose.

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 Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's IRS 990 filings:

• Lack of detailed program spending breakdown in provided data
• Unusually low liabilities relative to assets, which could warrant further investigation into financial structure

Strengths

The following positive indicators were identified for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund:

• Consistent and significant revenue growth over a decade (from $18.6M in 2014 to $36.8M in 2023)
• Strong asset base ($46.1M in 2023) significantly exceeding liabilities ($755,726 in 2023)
• No reported officer compensation across all filings, indicating high resource allocation to mission
• Positive net income in most years, contributing to asset accumulation
• Long history of IRS 990 filings (13 filings), suggesting consistent compliance and transparency

Frequently Asked Questions about Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund

Filing History

IRS 990 filing history for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund's revenue has grown by 114.4%, moving from $17.2M to $36.8M. Total assets increased by 38.6% over the same period, from $33.3M to $46.1M. Total functional expenses rose by 93.1%, from $16.3M to $31.5M. In its most recent filing year (2023), Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund reported a surplus of $5.4M, with revenue exceeding expenses. The organization holds $756K in liabilities against $46.1M in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $45.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $36.8M, expenses of $31.5M, and assets of $46.1M (revenue +10.1% year-over-year).
• 2022: Revenue of $33.5M, expenses of $35.0M, and assets of $39.4M (revenue -1.8% year-over-year).
• 2021: Revenue of $34.1M, expenses of $34.0M, and assets of $42.8M (revenue +8.9% year-over-year).
• 2020: Revenue of $31.3M, expenses of $29.7M, and assets of $42.6M (revenue +0.8% year-over-year).
• 2019: Revenue of $31.0M, expenses of $30.0M, and assets of $40.3M (revenue +18.8% year-over-year).
• 2018: Revenue of $26.1M, expenses of $25.3M, and assets of $40.8M (revenue +10.7% year-over-year).
• 2017: Revenue of $23.6M, expenses of $22.5M, and assets of $39.3M (revenue +3.1% year-over-year).
• 2016: Revenue of $22.9M, expenses of $21.3M, and assets of $37.2M (revenue +9.3% year-over-year).
• 2015: Revenue of $20.9M, expenses of $21.8M, and assets of $35.5M (revenue +12.4% year-over-year).
• 2014: Revenue of $18.6M, expenses of $20.6M, and assets of $35.9M (revenue +1.0% year-over-year).
• 2013: Revenue of $18.4M, expenses of $17.3M, and assets of $36.6M (revenue +5.2% year-over-year).
• 2012: Revenue of $17.5M, expenses of $16.2M, and assets of $35.2M (revenue +1.9% year-over-year).
• 2011: Revenue of $17.2M, expenses of $16.3M, and assets of $33.3M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Laborers Union 1298 Of Nassau And Suffolk Counties Welfare Fund:

Data Sources and Methodology

This transparency report for Laborers Union 1298 Of Nassau And Suffolk Counties 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.