Local 338 Health And Welfare Fund

Local 338 Health And Welfare Fund consistently manages tens of millions in revenue and expenses with no reported officer compensation.

EIN: 132980858 · Mineola, NY · Updated: 2026-03-28

$53.8MRevenue

$43.2MAssets

85/100Mission Score (Excellent)

About Local 338 Health And Welfare Fund

Local 338 Health And Welfare Fund (EIN: 132980858) is a nonprofit organization based in Mineola, NY. The organization reported total revenue of $53.8M and total assets of $43.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 338 Health And Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Local 338 Health And Welfare Fund demonstrates consistent financial activity, with revenues and expenses generally in the range of $30-50 million annually over the past decade. In the most recent filing (202312), the organization reported revenues of $41,514,409 against expenses of $45,983,716, indicating a deficit for that period. However, this follows a surplus in 202212 where revenues of $45,624,423 exceeded expenses of $39,438,342. The organization maintains substantial assets, reported at $44,408,603 in 202312, with relatively low liabilities of $620,084, suggesting a strong balance sheet. 

The consistent reporting of 0% officer compensation across all available filings indicates a high degree of financial efficiency in terms of executive pay, as no funds are allocated for this purpose. This also points to a strong commitment to directing resources towards its primary mission. While specific program spending details are not provided in the summary data, the absence of officer compensation is a positive indicator of resource allocation. The organization's consistent filing history further suggests good governance and transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Local 338 Health And Welfare Fund 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 338 Health And Welfare 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 funds are allocated for officer salaries, which is highly efficient for an organization managing tens of millions in revenue and assets.

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.

Strengths

The following positive indicators were identified for Local 338 Health And Welfare Fund:

Zero officer compensation reported across all filings, indicating high efficiency in executive pay.
Strong asset base ($44,408,603 in 202312) relative to liabilities ($620,084 in 202312), demonstrating financial resilience.
Consistent filing of IRS 990 forms over 13 periods, suggesting good governance and transparency.

Frequently Asked Questions about Local 338 Health And Welfare Fund

Is Local 338 Health And Welfare Fund financially stable?

Yes, despite occasional annual deficits like the $4.47 million deficit in 202312, the organization maintains substantial assets ($44,408,603 in 202312) and low liabilities ($620,084 in 202312), indicating strong financial stability.

How does Local 338 Health And Welfare Fund manage executive compensation?

The organization reports 0% officer compensation in all available filings, meaning no funds are used for executive salaries, which is a highly efficient practice.

What is the trend in the organization's revenue and expenses?

Revenue and expenses generally fluctuate between $30 million and $50 million annually, with some years showing surpluses (e.g., 202212 with $6.18 million surplus) and others deficits (e.g., 202312 with $4.47 million deficit).

Filing History

IRS 990 filing history for Local 338 Health And Welfare Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Local 338 Health And Welfare Fund's revenue has grown by 22.1%, moving from $34.0M to $41.5M. Total assets decreased by 5.7% over the same period, from $47.1M to $44.4M. Total functional expenses rose by 34%, from $34.3M to $46.0M. In its most recent filing year (2023), Local 338 Health And Welfare Fund reported a deficit of $4.5M, with expenses exceeding revenue. The organization holds $620K in liabilities against $44.4M in assets (debt-to-asset ratio: 1.4%), resulting in net assets of $43.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$41.5M	$46.0M	$44.4M	$620K	—	—
2022	$45.6M	$39.4M	$45.0M	$567K	—	—
2021	$44.7M	$44.8M	$45.6M	$568K	—	View 990
2020	$40.9M	$40.6M	$45.0M	$611K	—	View 990
2019	$50.5M	$44.3M	$43.2M	$661K	—	View 990
2018	$39.6M	$40.6M	$40.5M	$546K	—	View 990
2017	$34.7M	$38.2M	$42.9M	$395K	—	View 990
2016	$29.7M	$36.2M	$45.2M	$124K	—	View 990
2015	$37.4M	$39.6M	$48.6M	$208K	—	View 990
2014	$33.6M	$38.1M	$51.4M	$844K	—	View 990
2013	$42.5M	$34.5M	$54.0M	$114K	—	View 990
2012	$33.2M	$35.4M	$45.4M	$109K	—	View 990
2011	$34.0M	$34.3M	$47.1M	$343K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $41.5M, expenses of $46.0M, and assets of $44.4M (revenue -9.0% year-over-year).
2022: Revenue of $45.6M, expenses of $39.4M, and assets of $45.0M (revenue +2.2% year-over-year).
2021: Revenue of $44.7M, expenses of $44.8M, and assets of $45.6M (revenue +9.3% year-over-year).
2020: Revenue of $40.9M, expenses of $40.6M, and assets of $45.0M (revenue -19.0% year-over-year).
2019: Revenue of $50.5M, expenses of $44.3M, and assets of $43.2M (revenue +27.3% year-over-year).
2018: Revenue of $39.6M, expenses of $40.6M, and assets of $40.5M (revenue +14.2% year-over-year).
2017: Revenue of $34.7M, expenses of $38.2M, and assets of $42.9M (revenue +17.0% year-over-year).
2016: Revenue of $29.7M, expenses of $36.2M, and assets of $45.2M (revenue -20.7% year-over-year).
2015: Revenue of $37.4M, expenses of $39.6M, and assets of $48.6M (revenue +11.5% year-over-year).
2014: Revenue of $33.6M, expenses of $38.1M, and assets of $51.4M (revenue -21.1% year-over-year).
2013: Revenue of $42.5M, expenses of $34.5M, and assets of $54.0M (revenue +27.9% year-over-year).
2012: Revenue of $33.2M, expenses of $35.4M, and assets of $45.4M (revenue -2.2% year-over-year).
2011: Revenue of $34.0M, expenses of $34.3M, and assets of $47.1M.

Data Sources and Methodology

This transparency report for Local 338 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.