Local 282 Welfare Trust Fund
Local 282 Welfare Trust Fund consistently reports zero officer compensation amidst fluctuating but substantial revenues.
EIN: 116244552 · Lake Success, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $290.6M |
| Total Expenses | $99.9M |
| Program Spending | 90% |
| Net Assets | $161.4M |
| Transparency Score | 95/100 |
Is Local 282 Welfare Trust Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 282 Welfare Trust Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 282 Welfare Trust Fund
Local 282 Welfare Trust Fund (EIN: 116244552) is a nonprofit organization based in Lake Success, NY. The organization reported total revenue of $290.6M and total assets of $184.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 282 Welfare Trust Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 282 Welfare Trust Fund is a major nonprofit that has been operating for 70 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $104.7M |
| Total Expenses | $99.9M |
| Surplus / Deficit | +$4.8M |
| Total Assets | $182.4M |
| Total Liabilities | $21.0M |
| Net Assets | $161.4M |
| Operating Margin | 4.6% |
| Debt-to-Asset Ratio | 11.5% |
| Months of Reserves | 21.9 months |
Financial Health Grade: A
In 2023, Local 282 Welfare Trust Fund reported a surplus of $4.8M with revenue exceeding expenses, holds 21.9 months of operating reserves (strong position), has a debt-to-asset ratio of 11.5% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2023), Local 282 Welfare Trust Fund's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.1% | +20.0% | +6.9% |
| 2022 | -18.7% | -20.3% | -7.5% |
| 2022 | +2.0% | +12.8% | -0.6% |
| 2021 | -3.7% | -18.9% | +3.7% |
| 2020 | +13.9% | +27.2% | +7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1956 |
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 282 Welfare Trust Fund with a Mission Score of 95 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Local 282 Welfare Trust Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $4.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly unusual for an organization of this size and suggests a volunteer-led or externally compensated leadership structure.
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 282 Welfare Trust Fund's IRS 990 filings:
- Lack of detailed program vs. administrative spending breakdown in summary data
- Unusually high revenue spike in the latest period without context
Strengths
The following positive indicators were identified for Local 282 Welfare Trust Fund:
- Consistent 0% officer compensation across all filings, indicating high efficiency and transparency regarding executive pay.
- Healthy and growing asset base, demonstrating financial stability (e.g., assets grew from $139M in 2015 to $184M currently).
- Generally stable financial operations over a decade, with revenues typically exceeding expenses.
- Low liabilities relative to assets, indicating good financial health.
Frequently Asked Questions about Local 282 Welfare Trust Fund
Is Local 282 Welfare Trust Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Local 282 Welfare Trust Fund (EIN: 116244552) some concerns. Mission Score: 95/100. 2 red flags identified, 4 strengths noted.
How does Local 282 Welfare Trust Fund spend its money?
Local 282 Welfare Trust Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Local 282 Welfare Trust Fund tax-deductible?
Local 282 Welfare Trust Fund is registered as a tax-exempt nonprofit (EIN: 116244552). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Local 282 Welfare Trust Fund located?
Local 282 Welfare Trust Fund is headquartered in Lake Success, New York and files with the IRS under EIN 116244552.
How many years of IRS 990 filings does Local 282 Welfare Trust Fund have?
Local 282 Welfare Trust 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 $290.6M in total revenue.
How does Local 282 Welfare Trust Fund manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the trust fund's leadership may be compensated by an affiliated entity (e.g., the union itself) or serve in a purely voluntary capacity. This is a significant factor in its operational efficiency.
What is the primary purpose of the Local 282 Welfare Trust Fund?
As a 'Welfare Trust Fund,' its primary purpose is typically to provide health, retirement, or other benefits to members of Local 282, aligning with its NTEE code (though unknown, this is a common function for such trusts).
Is the recent revenue spike to $290,647,024 sustainable?
The latest revenue figure of $290,647,024 is significantly higher than previous annual revenues, which typically ranged from $70M-$114M. Further analysis of the 990 filing for that period would be needed to understand the nature of this increase (e.g., investment gains, one-time contributions, or a change in reporting structure) and its sustainability.
Filing History
IRS 990 filing history for Local 282 Welfare Trust Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Local 282 Welfare Trust Fund's revenue has grown by 62.5%, moving from $64.4M to $104.7M. Total assets increased by 39.4% over the same period, from $130.8M to $182.4M. Total functional expenses rose by 64.7%, from $60.6M to $99.9M. In its most recent filing year (2023), Local 282 Welfare Trust Fund reported a surplus of $4.8M, with revenue exceeding expenses. The organization holds $21.0M in liabilities against $182.4M in assets (debt-to-asset ratio: 11.5%), resulting in net assets of $161.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $104.7M | $99.9M | $182.4M | $21.0M | — | — |
| 2022 | $84.4M | $83.2M | $170.6M | $22.9M | — | View 990 |
| 2022 | $103.7M | $104.4M | $184.4M | $26.6M | — | View 990 |
| 2021 | $101.7M | $92.6M | $185.5M | $26.2M | — | View 990 |
| 2020 | $105.6M | $114.1M | $178.8M | $32.0M | — | — |
| 2019 | $92.8M | $89.7M | $165.8M | $25.3M | — | View 990 |
| 2018 | $90.4M | $81.1M | $160.1M | $19.2M | — | View 990 |
| 2017 | $82.3M | $77.7M | $149.3M | $16.8M | — | View 990 |
| 2016 | $79.2M | $72.6M | $133.9M | $12.2M | — | View 990 |
| 2015 | $70.1M | $62.4M | $140.0M | $13.2M | — | View 990 |
| 2014 | $59.8M | $60.8M | $132.2M | $12.4M | — | View 990 |
| 2013 | $57.3M | $60.5M | $131.5M | $15.8M | — | View 990 |
| 2012 | $64.4M | $60.6M | $130.8M | $12.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $104.7M, expenses of $99.9M, and assets of $182.4M (revenue +24.1% year-over-year).
- 2022: Revenue of $84.4M, expenses of $83.2M, and assets of $170.6M (revenue -18.7% year-over-year).
- 2022: Revenue of $103.7M, expenses of $104.4M, and assets of $184.4M (revenue +2.0% year-over-year).
- 2021: Revenue of $101.7M, expenses of $92.6M, and assets of $185.5M (revenue -3.7% year-over-year).
- 2020: Revenue of $105.6M, expenses of $114.1M, and assets of $178.8M (revenue +13.9% year-over-year).
- 2019: Revenue of $92.8M, expenses of $89.7M, and assets of $165.8M (revenue +2.6% year-over-year).
- 2018: Revenue of $90.4M, expenses of $81.1M, and assets of $160.1M (revenue +9.8% year-over-year).
- 2017: Revenue of $82.3M, expenses of $77.7M, and assets of $149.3M (revenue +3.9% year-over-year).
- 2016: Revenue of $79.2M, expenses of $72.6M, and assets of $133.9M (revenue +12.9% year-over-year).
- 2015: Revenue of $70.1M, expenses of $62.4M, and assets of $140.0M (revenue +17.3% year-over-year).
- 2014: Revenue of $59.8M, expenses of $60.8M, and assets of $132.2M (revenue +4.4% year-over-year).
- 2013: Revenue of $57.3M, expenses of $60.5M, and assets of $131.5M (revenue -11.1% year-over-year).
- 2012: Revenue of $64.4M, expenses of $60.6M, and assets of $130.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 282 Welfare Trust Fund:
Data Sources and Methodology
This transparency report for Local 282 Welfare Trust 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.