Local 147 Construction Workers Additional Security Benefits Fund

Construction Workers Benefits Fund sees long-term asset decline despite recent revenue surplus.

EIN: 133161717 · Hopatcong, NJ · Updated: 2026-03-28

$7.5MRevenue

$12.9MAssets

80/100Mission Score (Excellent)

About Local 147 Construction Workers Additional Security Benefits Fund

Local 147 Construction Workers Additional Security Benefits Fund (EIN: 133161717) is a nonprofit organization based in Hopatcong, NJ. The organization reported total revenue of $7.5M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 147 Construction Workers Additional Security Benefits Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Local 147 Construction Workers Additional Security Benefits Fund appears to be a benefits fund, not a traditional public charity, which significantly impacts the interpretation of its financial data. Its primary purpose is likely to manage and disburse benefits to members, rather than engage in programmatic activities in the way a typical nonprofit would. The organization consistently reports 0% officer compensation across all available filings, indicating strong financial stewardship in this area and a focus on directing funds to its intended purpose. However, the fund has experienced a significant decline in assets over the past decade, from $54.2 million in 2014 to $11.8 million in 2023, alongside a general trend of expenses exceeding revenue in many periods, such as in 2021 ($1.78M expenses vs $0.97M revenue) and 2020 ($1.75M expenses vs $1.17M revenue). This suggests a period of substantial benefit payouts or investment losses, drawing down its reserves. While the most recent period (2023) shows revenue exceeding expenses ($3.11M revenue vs $1.74M expenses), this is a recent positive trend against a backdrop of long-term asset depletion. The lack of NTEE code and specific program spending details makes a direct comparison to typical charity efficiency metrics challenging, as its 'program' spending would largely be benefit disbursements.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Local 147 Construction Workers Additional Security Benefits Fund with a Mission Score of 80 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, Local 147 Construction Workers Additional Security Benefits 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.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive compensation from the fund. This is a positive sign for a benefits fund, suggesting that all available resources are directed towards the fund's 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 Local 147 Construction Workers Additional Security Benefits Fund's IRS 990 filings:

Significant long-term asset depletion (from $54.2M in 2014 to $11.8M in 2023)
Frequent periods where expenses exceeded revenue, drawing down reserves (e.g., 2015-2021)

Strengths

The following positive indicators were identified for Local 147 Construction Workers Additional Security Benefits Fund:

Consistent 0% officer compensation, indicating efficient use of funds for its intended purpose.
Recent positive financial performance in 2023, with revenue ($3.11M) exceeding expenses ($1.74M).
Low liabilities relative to assets, suggesting good financial control over obligations.

Frequently Asked Questions about Local 147 Construction Workers Additional Security Benefits Fund

What caused the significant decline in assets from $54.2M in 2014 to $11.8M in 2023?

The decline in assets is likely due to a combination of benefit payouts exceeding contributions and investment performance over the decade. For example, in 2016, expenses were $26.4M against $12.2M in revenue, and in 2017, expenses were $17.5M against $6.9M in revenue, indicating substantial outflows.

Is the fund financially sustainable given the historical trend of expenses exceeding revenue?

While many past periods show expenses exceeding revenue, the most recent filing (2023) shows revenue of $3.11M exceeding expenses of $1.74M. This recent positive trend is encouraging, but the long-term sustainability depends on consistent positive net income and prudent asset management to rebuild reserves.

How does the fund manage its investments, given its primary role as a benefits fund?

The filings do not provide detailed investment strategies. As a benefits fund, its assets are typically invested to ensure long-term solvency and meet future benefit obligations, often through a mix of conservative and growth-oriented investments. Further details would require reviewing the fund's investment policy statement.

Filing History

IRS 990 filing history for Local 147 Construction Workers Additional Security Benefits Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Local 147 Construction Workers Additional Security Benefits Fund's revenue has declined by 93.2%, moving from $45.6M to $3.1M. Total assets decreased by 81.4% over the same period, from $64.0M to $11.9M. Total functional expenses fell by 91.2%, from $19.9M to $1.7M. In its most recent filing year (2023), Local 147 Construction Workers Additional Security Benefits Fund reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $27K in liabilities against $11.9M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $11.9M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.1M	$1.7M	$11.9M	$27K	—	—
2022	$1.8M	$1.2M	$10.8M	$31K	—	—
2021	$971K	$1.8M	$12.1M	$18K	—	View 990
2020	$1.2M	$1.8M	$13.0M	$18K	—	—
2019	$1.0M	$5.5M	$13.4M	$19K	—	View 990
2018	$2.2M	$11.4M	$16.9M	$18K	—	View 990
2017	$6.9M	$17.5M	$27.1M	$17K	—	View 990
2016	$12.3M	$26.4M	$37.2M	$34K	—	View 990
2015	$21.8M	$24.9M	$50.7M	$27K	—	View 990
2014	$30.0M	$27.2M	$54.3M	$60K	—	View 990
2013	$23.0M	$40.1M	$51.0M	$83K	—	View 990
2012	$43.1M	$39.8M	$68.2M	$55K	—	View 990
2011	$45.6M	$19.9M	$64.0M	$142K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.1M, expenses of $1.7M, and assets of $11.9M (revenue +71.9% year-over-year).
2022: Revenue of $1.8M, expenses of $1.2M, and assets of $10.8M (revenue +86.6% year-over-year).
2021: Revenue of $971K, expenses of $1.8M, and assets of $12.1M (revenue -17.1% year-over-year).
2020: Revenue of $1.2M, expenses of $1.8M, and assets of $13.0M (revenue +13.9% year-over-year).
2019: Revenue of $1.0M, expenses of $5.5M, and assets of $13.4M (revenue -54.2% year-over-year).
2018: Revenue of $2.2M, expenses of $11.4M, and assets of $16.9M (revenue -67.5% year-over-year).
2017: Revenue of $6.9M, expenses of $17.5M, and assets of $27.1M (revenue -43.8% year-over-year).
2016: Revenue of $12.3M, expenses of $26.4M, and assets of $37.2M (revenue -43.6% year-over-year).
2015: Revenue of $21.8M, expenses of $24.9M, and assets of $50.7M (revenue -27.4% year-over-year).
2014: Revenue of $30.0M, expenses of $27.2M, and assets of $54.3M (revenue +30.6% year-over-year).
2013: Revenue of $23.0M, expenses of $40.1M, and assets of $51.0M (revenue -46.6% year-over-year).
2012: Revenue of $43.1M, expenses of $39.8M, and assets of $68.2M (revenue -5.6% year-over-year).
2011: Revenue of $45.6M, expenses of $19.9M, and assets of $64.0M.

Data Sources and Methodology

This transparency report for Local 147 Construction Workers Additional Security Benefits 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.