Local 1478 2 Ila Health And Welfare Fund
Local 1478 2 Ila Health And Welfare Fund: Stable Revenue, Declining Assets
EIN: 222811469 · Newark, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $5.7M |
| Total Expenses | $5.2M |
| Program Spending | 85% |
| Net Assets | $4.5M |
| Transparency Score | 65/100 |
Is Local 1478 2 Ila Health And Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 1478 2 Ila Health And Welfare Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 1478 2 Ila Health And Welfare Fund
Local 1478 2 Ila Health And Welfare Fund (EIN: 222811469) is a nonprofit organization based in Newark, NJ. The organization reported total revenue of $5.7M and total assets of $5.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 1478 2 Ila Health And Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 1478 2 Ila Health And Welfare Fund is a mid-size nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.4M |
| Total Expenses | $5.2M |
| Surplus / Deficit | +$251K |
| Total Assets | $4.9M |
| Total Liabilities | $431K |
| Net Assets | $4.5M |
| Operating Margin | 4.6% |
| Debt-to-Asset Ratio | 8.7% |
| Months of Reserves | 11.5 months |
Financial Health Grade: A
In 2023, Local 1478 2 Ila Health And Welfare Fund reported a surplus of $251K with revenue exceeding expenses, holds 11.5 months of operating reserves (strong position), has a debt-to-asset ratio of 8.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Local 1478 2 Ila Health And Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.8% | -8.3% | +9.2% |
| 2022 | -9.3% | -19.6% | -5.6% |
| 2021 | -8.5% | +21.5% | -13.4% |
| 2020 | -6.0% | -10.4% | +19.0% |
| 2019 | +5.0% | +11.5% | +17.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Local 1478 2 Ila Health And Welfare Fund with a Mission Score of 65 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Local 1478 2 Ila Health And Welfare Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. 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 $251K, with revenue exceeding expenses.
- Debt-to-asset ratio: 8.7%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures for key employees were provided in the given data.
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 1478 2 Ila Health And Welfare Fund's IRS 990 filings:
- Total assets have shown a significant decline from $5,542,455 in 2020 to $4,957,454 in 2023, warranting further investigation into asset management.
- The provided data lacks specific details on program activities and their associated costs, making it challenging to evaluate program effectiveness.
- The 'nt' (nonprofit type) field is marked as '?', indicating a lack of clear classification for the organization's primary purpose.
Strengths
The following positive indicators were identified for Local 1478 2 Ila Health And Welfare Fund:
- The organization consistently maintains a positive net revenue, with revenue exceeding expenses in most years.
- Revenue has remained relatively stable over the past several years, indicating a consistent funding base.
- The organization has a long history of financial filings, providing a good historical data set for analysis.
Frequently Asked Questions about Local 1478 2 Ila Health And Welfare Fund
Is Local 1478 2 Ila Health And Welfare Fund a legitimate charity?
Local 1478 2 Ila Health And Welfare Fund (EIN: 222811469) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.7M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Local 1478 2 Ila Health And Welfare Fund spend its money?
Local 1478 2 Ila Health And Welfare Fund directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Local 1478 2 Ila Health And Welfare Fund tax-deductible?
Local 1478 2 Ila Health And Welfare Fund is registered as a tax-exempt nonprofit (EIN: 222811469). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Local 1478 2 Ila Health And Welfare Fund's spending goes to programs?
Local 1478 2 Ila Health And Welfare Fund directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Local 1478 2 Ila Health And Welfare Fund located?
Local 1478 2 Ila Health And Welfare Fund is headquartered in Newark, New Jersey and files with the IRS under EIN 222811469.
How many years of IRS 990 filings does Local 1478 2 Ila Health And Welfare Fund have?
Local 1478 2 Ila Health And 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 $5.7M in total revenue.
What does Local 1478 2 Ila Health And Welfare Fund do?
Local 1478 2 Ila Health And 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 Local 1478 2 Ila Health And Welfare Fund have?
Local 1478 2 Ila Health And Welfare Fund reported total revenue of $5,723,740. Based on 13 IRS 990 filings on record.
What are Local 1478 2 Ila Health And Welfare Fund's total assets?
Local 1478 2 Ila Health And Welfare Fund holds total assets of $4,957,454 as reported in IRS 990 filings.
Where is Local 1478 2 Ila Health And Welfare Fund located?
Local 1478 2 Ila Health And Welfare Fund is based in Newark, New Jersey.
What is Local 1478 2 Ila Health And Welfare Fund's EIN?
Local 1478 2 Ila Health And Welfare Fund's Employer Identification Number (EIN) is 222811469. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Local 1478 2 Ila Health And Welfare Fund?
Local 1478 2 Ila Health And Welfare Fund is classified under NTEE code Unknown (Unknown).
Is Local 1478 2 Ila Health And Welfare Fund a registered 501(c)(3)?
Local 1478 2 Ila Health And Welfare Fund appears in IRS records (EIN: 222811469). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Local 1478 2 Ila Health And Welfare Fund file IRS Form 990?
Yes, Local 1478 2 Ila Health And Welfare Fund has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Local 1478 2 Ila Health And Welfare Fund's revenue in 2023?
In the 202306 filing period, Local 1478 2 Ila Health And Welfare Fund reported total revenue of $5,423,937, total expenses of $5,173,035, and net assets of $4,949,274.
Is Local 1478 2 Ila Health And Welfare Fund's revenue growing or declining?
Local 1478 2 Ila Health And Welfare Fund's revenue is relatively stable. Revenue went from $5,577,513 (202206) to $5,423,937 (202306), a -2.8% change. Based on 13 filings on record.
What is Local 1478 2 Ila Health And Welfare Fund's most recent 990 filing?
The most recent IRS Form 990 filing for Local 1478 2 Ila Health And Welfare Fund covers tax period 202306. It shows revenue of $5,423,937, expenses of $5,173,035, total assets of $4,949,274, and liabilities of $431,409.
How much does Local 1478 2 Ila Health And Welfare Fund spend on programs vs administration?
Based on IRS 990 analysis, Local 1478 2 Ila Health And Welfare Fund allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Local 1478 2 Ila Health And Welfare Fund a trustworthy charity?
Based on AI analysis of IRS 990 data, Local 1478 2 Ila Health And Welfare Fund shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Local 1478 2 Ila Health And Welfare Fund?
The following concerns were identified: Total assets have shown a significant decline from $5,542,455 in 2020 to $4,957,454 in 2023, warranting further investigation into asset management.. The provided data lacks specific details on program activities and their associated costs, making it challenging to evaluate program effectiveness.. The 'nt' (nonprofit type) field is marked as '?', indicating a lack of clear classification for the organization's primary purpose.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Local 1478 2 Ila Health And Welfare Fund's strengths?
Positive indicators for Local 1478 2 Ila Health And Welfare Fund include: The organization consistently maintains a positive net revenue, with revenue exceeding expenses in most years.. Revenue has remained relatively stable over the past several years, indicating a consistent funding base.. The organization has a long history of financial filings, providing a good historical data set for analysis.. These findings are derived from AI analysis of the organization's financial filings.
How does Local 1478 2 Ila Health And Welfare Fund compensate executives?
Executive compensation cannot be assessed as no specific compensation figures for key employees were provided in the given data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the nearly $600,000 decline in total assets between 2020 and 2023, despite generally stable revenues?
Without more detailed financial statements, it's difficult to pinpoint the exact reasons for the asset decline. Potential factors could include significant investment losses, increased liabilities, or substantial capital expenditures not reflected in the provided expense data.
Given the 'Health And Welfare Fund' designation, what specific health and welfare programs are supported, and what percentage of the 'x' (expenses) is allocated to direct beneficiary services versus administrative overhead?
The provided data does not offer a granular breakdown of expenses. To answer this, one would need access to the organization's Form 990, specifically Schedule A and Schedule O, which detail program service accomplishments and expenses.
Filing History
IRS 990 filing history for Local 1478 2 Ila Health And Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Local 1478 2 Ila Health And Welfare Fund's revenue has grown by 13.1%, moving from $4.8M to $5.4M. Total assets increased by 533.1% over the same period, from $782K to $4.9M. Total functional expenses fell by 12.8%, from $5.9M to $5.2M. In its most recent filing year (2023), Local 1478 2 Ila Health And Welfare Fund reported a surplus of $251K, with revenue exceeding expenses. The organization holds $431K in liabilities against $4.9M in assets (debt-to-asset ratio: 8.7%), resulting in net assets of $4.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.4M | $5.2M | $4.9M | $431K | — | View 990 |
| 2022 | $5.6M | $5.6M | $4.5M | $374K | — | View 990 |
| 2021 | $6.1M | $7.0M | $4.8M | $436K | — | View 990 |
| 2020 | $6.7M | $5.8M | $5.5M | $253K | — | — |
| 2019 | $7.1M | $6.4M | $4.7M | $116K | — | View 990 |
| 2018 | $6.8M | $5.8M | $4.0M | $89K | — | View 990 |
| 2017 | $5.8M | $5.0M | $3.0M | $116K | — | View 990 |
| 2016 | $5.4M | $5.4M | $2.1M | $181K | — | View 990 |
| 2015 | $5.3M | $4.8M | $2.1M | $144K | — | View 990 |
| 2014 | $5.4M | $4.5M | $1.6M | $631K | — | View 990 |
| 2013 | $4.8M | $5.2M | $647K | $599K | — | View 990 |
| 2012 | $4.9M | $4.5M | $1.1M | $612K | — | View 990 |
| 2011 | $4.8M | $5.9M | $782K | $278K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.4M, expenses of $5.2M, and assets of $4.9M (revenue -2.8% year-over-year).
- 2022: Revenue of $5.6M, expenses of $5.6M, and assets of $4.5M (revenue -9.3% year-over-year).
- 2021: Revenue of $6.1M, expenses of $7.0M, and assets of $4.8M (revenue -8.5% year-over-year).
- 2020: Revenue of $6.7M, expenses of $5.8M, and assets of $5.5M (revenue -6.0% year-over-year).
- 2019: Revenue of $7.1M, expenses of $6.4M, and assets of $4.7M (revenue +5.0% year-over-year).
- 2018: Revenue of $6.8M, expenses of $5.8M, and assets of $4.0M (revenue +17.1% year-over-year).
- 2017: Revenue of $5.8M, expenses of $5.0M, and assets of $3.0M (revenue +7.4% year-over-year).
- 2016: Revenue of $5.4M, expenses of $5.4M, and assets of $2.1M (revenue +2.2% year-over-year).
- 2015: Revenue of $5.3M, expenses of $4.8M, and assets of $2.1M (revenue -2.8% year-over-year).
- 2014: Revenue of $5.4M, expenses of $4.5M, and assets of $1.6M (revenue +14.3% year-over-year).
- 2013: Revenue of $4.8M, expenses of $5.2M, and assets of $647K (revenue -2.3% year-over-year).
- 2012: Revenue of $4.9M, expenses of $4.5M, and assets of $1.1M (revenue +1.6% year-over-year).
- 2011: Revenue of $4.8M, expenses of $5.9M, and assets of $782K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 1478 2 Ila Health And Welfare Fund:
Data Sources and Methodology
This transparency report for Local 1478 2 Ila Health And 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.