Local 8 A 28 A Welfare Fund
Local 8 A 28 A Welfare Fund consistently allocates 0% to officer compensation while managing fluctuating revenues and growing assets.
EIN: 135624028 · Astoria, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.6M |
| Total Expenses | $6.9M |
| Program Spending | 100% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $8.4M |
| Transparency Score | 95/100 |
Is Local 8 A 28 A Welfare Fund Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 8 A 28 A Welfare Fund directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 8 A 28 A Welfare Fund
Local 8 A 28 A Welfare Fund (EIN: 135624028) is a nonprofit organization based in Astoria, NY. The organization reported total revenue of $7.6M and total assets of $9.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 8 A 28 A Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 8 A 28 A Welfare Fund is a mid-size nonprofit that has been operating for 65 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.5M |
| Total Expenses | $6.9M |
| Surplus / Deficit | +$534K |
| Total Assets | $9.4M |
| Total Liabilities | $998K |
| Net Assets | $8.4M |
| Operating Margin | 7.1% |
| Debt-to-Asset Ratio | 10.6% |
| Months of Reserves | 16.3 months |
Financial Health Grade: A
In 2023, Local 8 A 28 A Welfare Fund reported a surplus of $534K with revenue exceeding expenses, holds 16.3 months of operating reserves (strong position), has a debt-to-asset ratio of 10.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Local 8 A 28 A Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.0% | +20.2% | -7.5% |
| 2022 | -38.9% | +8.7% | -0.3% |
| 2021 | +105.3% | -7.5% | +99.5% |
| 2020 | +1.8% | -0.7% | +3.1% |
| 2019 | +15.5% | -8.0% | +20.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1961 |
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 8 A 28 A Welfare 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Local 8 A 28 A Welfare Fund allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $534K, with revenue exceeding expenses.
- Debt-to-asset ratio: 10.6%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no salaries or other compensation are paid to officers, directors, trustees, or key employees. This is highly unusual for an organization of its size with annual revenues exceeding $7 million and suggests that administrative functions are either volunteer-driven or compensated through other means not classified as officer compensation on the 990.
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 8 A 28 A Welfare Fund:
- Consistent 0% officer compensation, indicating high efficiency in resource allocation towards its mission.
- Strong asset growth, from $4,131,350 in 2018 to $9,431,808 in 2023, demonstrating financial stability and prudent management.
- Consistent IRS 990 filing history (13 filings), indicating strong transparency and regulatory compliance.
- Manageable liabilities relative to assets, suggesting a healthy financial position.
- Revenue generally covers expenses, with a positive net income in most recent years (e.g., $7,473,651 revenue vs. $6,939,666 expenses in 2023).
Frequently Asked Questions about Local 8 A 28 A Welfare Fund
Is Local 8 A 28 A Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Local 8 A 28 A Welfare Fund (EIN: 135624028) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Local 8 A 28 A Welfare Fund spend its money?
Local 8 A 28 A Welfare Fund directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Local 8 A 28 A Welfare Fund tax-deductible?
Local 8 A 28 A Welfare Fund is registered as a tax-exempt nonprofit (EIN: 135624028). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Local 8 A 28 A Welfare Fund CEO make?
Local 8 A 28 A Welfare Fund's highest-compensated officer earns $7 annually. The organization reported $7.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Local 8 A 28 A Welfare Fund located?
Local 8 A 28 A Welfare Fund is headquartered in Astoria, New York and files with the IRS under EIN 135624028.
How many years of IRS 990 filings does Local 8 A 28 A Welfare Fund have?
Local 8 A 28 A 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 $7.6M in total revenue.
Is Local 8 A 28 A Welfare Fund a good charity?
Based on the available financial data, the Local 8 A 28 A Welfare Fund appears to be a highly efficient organization in terms of spending, with 0% reported officer compensation and consistent program-focused expenditures. Its financial health is robust, with growing assets and manageable liabilities. However, as a welfare fund, its 'charitable' nature differs from public charities, focusing on member benefits rather than broad public good.
How does the organization manage its administrative costs if officer compensation is 0%?
The consistent reporting of 0% officer compensation suggests that administrative functions might be handled by volunteers, or compensated through mechanisms not categorized as officer compensation on the 990, or potentially covered by an affiliated entity. Further investigation into the detailed expense breakdown in the full 990 filing would be needed to understand the true administrative cost structure.
What is the trend in the organization's financial stability?
The organization shows a positive trend in financial stability. Assets have grown from $4,131,350 in 2018 to $9,431,808 in 2023, while liabilities have remained relatively low compared to assets. This indicates a healthy balance sheet and increasing financial strength over time.
Filing History
IRS 990 filing history for Local 8 A 28 A Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Local 8 A 28 A Welfare Fund's revenue has grown by 19.8%, moving from $6.2M to $7.5M. Total assets increased by 152.5% over the same period, from $3.7M to $9.4M. Total functional expenses rose by 8.9%, from $6.4M to $6.9M. In its most recent filing year (2023), Local 8 A 28 A Welfare Fund reported a surplus of $534K, with revenue exceeding expenses. The organization holds $998K in liabilities against $9.4M in assets (debt-to-asset ratio: 10.6%), resulting in net assets of $8.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.5M | $6.9M | $9.4M | $998K | — | — |
| 2022 | $7.1M | $5.8M | $10.2M | $1.0M | — | — |
| 2021 | $11.7M | $5.3M | $10.2M | $368K | — | View 990 |
| 2020 | $5.7M | $5.7M | $5.1M | $1.6M | — | View 990 |
| 2019 | $5.6M | $5.8M | $5.0M | $1.4M | — | View 990 |
| 2018 | $4.8M | $6.3M | $4.1M | $342K | — | View 990 |
| 2017 | $4.8M | $5.0M | $5.6M | $308K | — | View 990 |
| 2016 | $5.2M | $5.7M | $5.8M | $325K | — | View 990 |
| 2015 | $4.7M | $4.1M | $6.3M | $336K | — | View 990 |
| 2014 | $4.6M | $4.2M | $5.7M | $314K | — | View 990 |
| 2013 | $4.6M | $3.8M | $5.2M | $257K | — | View 990 |
| 2012 | $4.9M | $4.1M | $4.5M | $247K | — | View 990 |
| 2011 | $6.2M | $6.4M | $3.7M | $300K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.5M, expenses of $6.9M, and assets of $9.4M (revenue +5.0% year-over-year).
- 2022: Revenue of $7.1M, expenses of $5.8M, and assets of $10.2M (revenue -38.9% year-over-year).
- 2021: Revenue of $11.7M, expenses of $5.3M, and assets of $10.2M (revenue +105.3% year-over-year).
- 2020: Revenue of $5.7M, expenses of $5.7M, and assets of $5.1M (revenue +1.8% year-over-year).
- 2019: Revenue of $5.6M, expenses of $5.8M, and assets of $5.0M (revenue +15.5% year-over-year).
- 2018: Revenue of $4.8M, expenses of $6.3M, and assets of $4.1M (revenue +0.6% year-over-year).
- 2017: Revenue of $4.8M, expenses of $5.0M, and assets of $5.6M (revenue -8.1% year-over-year).
- 2016: Revenue of $5.2M, expenses of $5.7M, and assets of $5.8M (revenue +11.0% year-over-year).
- 2015: Revenue of $4.7M, expenses of $4.1M, and assets of $6.3M (revenue +1.6% year-over-year).
- 2014: Revenue of $4.6M, expenses of $4.2M, and assets of $5.7M (revenue +1.5% year-over-year).
- 2013: Revenue of $4.6M, expenses of $3.8M, and assets of $5.2M (revenue -7.8% year-over-year).
- 2012: Revenue of $4.9M, expenses of $4.1M, and assets of $4.5M (revenue -20.7% year-over-year).
- 2011: Revenue of $6.2M, expenses of $6.4M, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 8 A 28 A Welfare Fund:
Data Sources and Methodology
This transparency report for Local 8 A 28 A 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.