Local 338 Benefits Trust Fund

Local 338 Benefits Trust Fund faces sustained operational deficits and declining assets.

EIN: 136313146 · Mineola, NY · Updated: 2026-03-28

$3.4MRevenue

$7.8MAssets

65/100Mission Score (Good)

About Local 338 Benefits Trust Fund

Local 338 Benefits Trust Fund (EIN: 136313146) is a nonprofit organization based in Mineola, NY. The organization reported total revenue of $3.4M and total assets of $7.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 338 Benefits Trust Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Local 338 Benefits Trust Fund appears to be a well-established organization, as evidenced by its extensive filing history. However, a concerning trend is the consistent deficit spending in recent years. For example, in 2023, expenses of $3,653,270 significantly outstripped revenue of $1,833,937, and similar patterns are observed in 2022 and 2021. This sustained operational deficit has led to a notable decline in assets, from a peak of $14,772,251 in 2017 to $8,503,811 in 2023. While the organization reports 0% officer compensation, which is a positive indicator of resource allocation, the long-term financial sustainability is questionable given the ongoing revenue-expense imbalance. The lack of NTEE code information makes it difficult to benchmark against similar organizations, impacting transparency regarding its specific programmatic focus.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Local 338 Benefits Trust 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: 90%
fundraising: 0%

According to IRS 990 filings, Local 338 Benefits 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a strong positive for resource allocation.

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 338 Benefits Trust Fund's IRS 990 filings:

Consistent operational deficits over multiple years (e.g., 2023 expenses $3.65M vs. revenue $1.83M)
Significant decline in total assets from $14.7M in 2017 to $8.5M in 2023
Lack of NTEE code, hindering clear understanding of mission and comparative analysis

Strengths

The following positive indicators were identified for Local 338 Benefits Trust Fund:

0% officer compensation reported across all filings, indicating efficient use of funds for leadership
Long operational history with 13 filings, suggesting established presence
Low liabilities relative to assets, indicating good balance sheet health despite asset decline (e.g., 2023 liabilities $336K vs. assets $8.5M)

Frequently Asked Questions about Local 338 Benefits Trust Fund

Is Local 338 Benefits Trust Fund financially sustainable given its consistent deficits?

The organization has consistently spent more than it earned in recent years, leading to a significant decline in assets from $14.7 million in 2017 to $8.5 million in 2023. This trend raises concerns about long-term financial sustainability if not addressed.

What is the primary purpose of the Local 338 Benefits Trust Fund?

Without an NTEE code or detailed program expense breakdown in the provided data, the specific programmatic activities of the 'Benefits Trust Fund' are not fully clear, though the name suggests providing benefits to members of Local 338.

How does the organization manage to operate with consistent deficits?

The organization has been drawing down its asset reserves to cover operational expenses. This is evident in the decrease of assets from $14,772,251 in 2017 to $8,503,811 in 2023.

Filing History

IRS 990 filing history for Local 338 Benefits Trust Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Local 338 Benefits Trust Fund's revenue has declined by 81%, moving from $9.6M to $1.8M. Total assets decreased by 54.7% over the same period, from $18.8M to $8.5M. Total functional expenses fell by 61.9%, from $9.6M to $3.7M. In its most recent filing year (2023), Local 338 Benefits Trust Fund reported a deficit of $1.8M, with expenses exceeding revenue. The organization holds $336K in liabilities against $8.5M in assets (debt-to-asset ratio: 4.0%), resulting in net assets of $8.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.8M	$3.7M	$8.5M	$336K	—	—
2022	$2.6M	$3.5M	$9.3M	$211K	—	—
2021	$3.2M	$3.4M	$11.9M	$80K	—	View 990
2020	$3.8M	$3.3M	$12.9M	$87K	—	View 990
2019	$2.6M	$3.7M	$14.0M	$101K	—	View 990
2018	$2.5M	$3.4M	$13.6M	$157K	—	View 990
2017	$3.9M	$3.1M	$14.8M	$105K	—	View 990
2016	$3.0M	$3.4M	$13.4M	$95K	—	View 990
2015	$4.7M	$4.2M	$12.7M	$90K	—	View 990
2014	$5.9M	$4.8M	$12.8M	$142K	—	View 990
2013	$4.0M	$9.5M	$11.4M	$90K	—	View 990
2012	$7.0M	$9.4M	$16.8M	$92K	—	View 990
2011	$9.6M	$9.6M	$18.8M	$166K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.8M, expenses of $3.7M, and assets of $8.5M (revenue -28.2% year-over-year).
2022: Revenue of $2.6M, expenses of $3.5M, and assets of $9.3M (revenue -20.2% year-over-year).
2021: Revenue of $3.2M, expenses of $3.4M, and assets of $11.9M (revenue -16.1% year-over-year).
2020: Revenue of $3.8M, expenses of $3.3M, and assets of $12.9M (revenue +49.3% year-over-year).
2019: Revenue of $2.6M, expenses of $3.7M, and assets of $14.0M (revenue +1.3% year-over-year).
2018: Revenue of $2.5M, expenses of $3.4M, and assets of $13.6M (revenue -34.9% year-over-year).
2017: Revenue of $3.9M, expenses of $3.1M, and assets of $14.8M (revenue +28.6% year-over-year).
2016: Revenue of $3.0M, expenses of $3.4M, and assets of $13.4M (revenue -35.2% year-over-year).
2015: Revenue of $4.7M, expenses of $4.2M, and assets of $12.7M (revenue -20.7% year-over-year).
2014: Revenue of $5.9M, expenses of $4.8M, and assets of $12.8M (revenue +48.2% year-over-year).
2013: Revenue of $4.0M, expenses of $9.5M, and assets of $11.4M (revenue -43.3% year-over-year).
2012: Revenue of $7.0M, expenses of $9.4M, and assets of $16.8M (revenue -27.6% year-over-year).
2011: Revenue of $9.6M, expenses of $9.6M, and assets of $18.8M.

Data Sources and Methodology

This transparency report for Local 338 Benefits 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.