Local 298 Health Benefit Fund Ii

Local 298 Health Benefit Fund II maintains stable finances with no reported officer compensation.

EIN: 111955915 · Valley Stream, NY · NTEE: Y43 · Updated: 2026-03-28

$5.2MRevenue

$4.9MAssets

85/100Mission Score (Excellent)

Y43

About Local 298 Health Benefit Fund Ii

Local 298 Health Benefit Fund Ii (EIN: 111955915) is a nonprofit organization based in Valley Stream, NY, classified under NTEE code Y43. The organization reported total revenue of $5.2M and total assets of $4.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 298 Health Benefit Fund Ii's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Local 298 Health Benefit Fund II demonstrates consistent financial activity, with revenues and expenses generally in the range of $3.1 million to $4.6 million over the past decade. The organization appears to operate with a focus on its primary purpose, as evidenced by the absence of reported officer compensation across all available filings, suggesting that executive leadership may be volunteer-based or compensated through other means not reported as officer compensation. While the filings show a healthy asset base relative to liabilities, there was a notable dip in assets from $3,667,434 in 2021 to $3,101,056 in 2022, alongside an expense exceeding revenue by approximately $391,828 in 2022. However, the organization rebounded in 2023, with revenue exceeding expenses by $5,959, indicating a return to a more stable financial position.

The organization's financial health appears stable, with assets consistently exceeding liabilities, indicating a strong balance sheet. For instance, in 2023, assets were $3,396,034 against liabilities of $534,501. The consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to regulatory compliance and transparency. Without detailed breakdowns of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging, but the lack of officer compensation suggests a lean operational structure at the top.

Overall, Local 298 Health Benefit Fund II appears to be a financially sound organization, effectively managing its resources to fulfill its mission. The consistent revenue streams and prudent management of liabilities, coupled with the absence of officer compensation, paint a picture of an organization focused on its beneficiaries. Further insight into the allocation of expenses would provide a more granular understanding of its operational efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Local 298 Health Benefit Fund Ii 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Local 298 Health Benefit Fund Ii 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, suggesting that the organization's leadership may be volunteer-based or compensated through mechanisms not categorized as officer compensation on the 990, indicating a highly cost-efficient leadership structure relative to its multi-million dollar revenue.

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 298 Health Benefit Fund Ii's IRS 990 filings:

Lack of detailed expense breakdown (program, admin, fundraising) in provided data, making precise efficiency analysis difficult.
Significant expense exceeding revenue by $391,828 in 2022, though this was recovered in 2023.

Strengths

The following positive indicators were identified for Local 298 Health Benefit Fund Ii:

Consistent financial reporting with 13 IRS 990 filings, demonstrating transparency.
No reported officer compensation across all filings, indicating highly efficient leadership costs.
Assets consistently exceed liabilities, showing a strong balance sheet (e.g., $3,396,034 assets vs. $534,501 liabilities in 2023).
Stable revenue streams over the past decade, generally ranging from $3.1 million to $4.6 million.
Positive net income in 2023 ($5,959), indicating a return to financial stability after a deficit in 2022.

Frequently Asked Questions about Local 298 Health Benefit Fund Ii

What is the specific breakdown of program, administrative, and fundraising expenses?

The provided data does not offer a detailed breakdown of program, administrative, and fundraising expenses. The spending breakdown percentages are estimated based on the absence of officer compensation and the nature of a health benefit fund.

How does the organization manage its investment portfolio, given its significant assets?

The provided data does not detail the organization's investment strategies or portfolio management. It only lists total assets and liabilities.

What caused the significant increase in liabilities in 2022 to $1,000,323 from $986,980 in 2021, and the subsequent decrease in 2023 to $534,501?

The provided data does not specify the reasons for the fluctuations in liabilities. Further investigation into the detailed 990 forms would be required to understand these changes.

Are there any related organizations or transactions that could impact financial transparency?

The provided data does not include information on related organizations or transactions. This would typically be found in specific schedules within the full IRS Form 990.

Filing History

IRS 990 filing history for Local 298 Health Benefit Fund Ii showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Local 298 Health Benefit Fund Ii's revenue has grown by 53.9%, moving from $2.5M to $3.8M. Total assets increased by 60.9% over the same period, from $2.1M to $3.4M. Total functional expenses rose by 51.2%, from $2.5M to $3.8M. In its most recent filing year (2023), Local 298 Health Benefit Fund Ii reported a surplus of $6K, with revenue exceeding expenses. The organization holds $535K in liabilities against $3.4M in assets (debt-to-asset ratio: 15.7%), resulting in net assets of $2.9M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.8M	$3.8M	$3.4M	$535K	—	—
2022	$3.7M	$4.1M	$3.1M	$1.0M	—	View 990
2021	$4.5M	$4.3M	$3.7M	$987K	—	View 990
2020	$4.6M	$4.1M	$3.7M	$330K	—	—
2019	$4.4M	$4.4M	$3.2M	$354K	—	View 990
2018	$4.2M	$3.4M	$3.5M	$738K	—	View 990
2017	$4.3M	$4.2M	$2.7M	$729K	—	View 990
2016	$3.9M	$3.5M	$2.3M	$439K	—	View 990
2015	$3.3M	$3.4M	$1.7M	$305K	—	View 990
2014	$3.1M	$3.0M	$1.8M	$315K	—	View 990
2013	$2.5M	$2.7M	$1.7M	$159K	—	View 990
2012	$2.6M	$2.9M	$1.8M	$159K	—	View 990
2011	$2.5M	$2.5M	$2.1M	$452K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.8M, expenses of $3.8M, and assets of $3.4M (revenue +2.3% year-over-year).
2022: Revenue of $3.7M, expenses of $4.1M, and assets of $3.1M (revenue -16.6% year-over-year).
2021: Revenue of $4.5M, expenses of $4.3M, and assets of $3.7M (revenue -2.9% year-over-year).
2020: Revenue of $4.6M, expenses of $4.1M, and assets of $3.7M (revenue +3.6% year-over-year).
2019: Revenue of $4.4M, expenses of $4.4M, and assets of $3.2M (revenue +4.6% year-over-year).
2018: Revenue of $4.2M, expenses of $3.4M, and assets of $3.5M (revenue -0.6% year-over-year).
2017: Revenue of $4.3M, expenses of $4.2M, and assets of $2.7M (revenue +8.2% year-over-year).
2016: Revenue of $3.9M, expenses of $3.5M, and assets of $2.3M (revenue +18.8% year-over-year).
2015: Revenue of $3.3M, expenses of $3.4M, and assets of $1.7M (revenue +5.2% year-over-year).
2014: Revenue of $3.1M, expenses of $3.0M, and assets of $1.8M (revenue +25.1% year-over-year).
2013: Revenue of $2.5M, expenses of $2.7M, and assets of $1.7M (revenue -1.7% year-over-year).
2012: Revenue of $2.6M, expenses of $2.9M, and assets of $1.8M (revenue +3.6% year-over-year).
2011: Revenue of $2.5M, expenses of $2.5M, and assets of $2.1M.

Data Sources and Methodology

This transparency report for Local 298 Health Benefit Fund Ii 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.