Local 802 Musicians Health Fund
Local 802 Musicians Health Fund consistently spends on programs with no reported officer compensation, while assets have declined.
EIN: 136198844 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $15.5M |
| Total Expenses | $15.4M |
| Program Spending | 95% |
| Net Assets | $6.4M |
| Transparency Score | 90/100 |
Is Local 802 Musicians Health Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 802 Musicians Health Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 802 Musicians Health Fund
Local 802 Musicians Health Fund (EIN: 136198844) is a nonprofit organization based in New York, NY. The organization reported total revenue of $15.5M and total assets of $9.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 802 Musicians Health Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 802 Musicians Health Fund is a large nonprofit that has been operating for 60 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $14.3M |
| Total Expenses | $15.4M |
| Surplus / Deficit | $-1,088,173 |
| Total Assets | $9.0M |
| Total Liabilities | $2.5M |
| Net Assets | $6.4M |
| Operating Margin | -7.6% |
| Debt-to-Asset Ratio | 28.4% |
| Months of Reserves | 7.0 months |
Financial Health Grade: B
In 2023, Local 802 Musicians Health Fund reported a deficit of $1.1M with expenses exceeding revenue, holds 7.0 months of operating reserves (strong position), has a debt-to-asset ratio of 28.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Local 802 Musicians Health Fund's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.1% | +45.1% | -3.4% |
| 2022 | +19.1% | -18.1% | +7.8% |
| 2021 | -1.3% | -5.7% | -31.0% |
| 2020 | -31.5% | -15.3% | -22.1% |
| 2019 | +5.5% | -3.7% | -5.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1966 |
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 802 Musicians Health Fund with a Mission Score of 90 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Local 802 Musicians Health Fund allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 deficit of $1.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation directly from the fund, which is a strong positive for financial efficiency and transparency.
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 802 Musicians Health Fund's IRS 990 filings:
- Consistent decline in assets over the past several years (from $18.6M in 2017 to $8.9M in 2023)
- Expenses frequently exceed revenue, indicating reliance on reserves or prior period surpluses (e.g., 2023: Expenses $15.3M, Revenue $14.2M)
Strengths
The following positive indicators were identified for Local 802 Musicians Health Fund:
- Consistent 0% officer compensation, indicating high efficiency and transparency regarding executive pay.
- High proportion of spending dedicated to program services (health benefits), aligning with its mission.
- Long history of IRS 990 filings (13 filings), suggesting established operations and compliance.
- Stable and manageable liabilities relative to assets.
Frequently Asked Questions about Local 802 Musicians Health Fund
Is Local 802 Musicians Health Fund a legitimate charity?
Local 802 Musicians Health Fund (EIN: 136198844) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $15.5M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Local 802 Musicians Health Fund spend its money?
Local 802 Musicians Health Fund directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Local 802 Musicians Health Fund tax-deductible?
Local 802 Musicians Health Fund is registered as a tax-exempt nonprofit (EIN: 136198844). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Local 802 Musicians Health Fund located?
Local 802 Musicians Health Fund is headquartered in New York, New York and files with the IRS under EIN 136198844.
How many years of IRS 990 filings does Local 802 Musicians Health Fund have?
Local 802 Musicians Health 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 $15.5M in total revenue.
Is Local 802 Musicians Health Fund financially stable given the decline in assets?
While assets have decreased from $18,664,980 in 2017 to $8,978,417 in 2023, the fund continues to operate and disburse benefits, sometimes exceeding annual revenue (e.g., 2023 expenses of $15,375,454 vs. revenue of $14,287,281). This suggests a reliance on reserves, which warrants monitoring but doesn't immediately indicate instability given the nature of a health fund.
How does the fund manage its administrative costs?
With 0% officer compensation reported, the fund demonstrates a very lean approach to executive overhead. While specific administrative expense breakdowns are not fully detailed in the provided summary, the overall spending pattern suggests a high proportion dedicated to program services.
What is the trend in the fund's revenue generation?
Revenue has fluctuated over the past decade, ranging from a low of $10,247,405 in 2021 to a high of $15,142,183 in 2019. The latest revenue of $14,287,281 in 2023 indicates a return to higher levels after a dip.
Filing History
IRS 990 filing history for Local 802 Musicians Health Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Local 802 Musicians Health Fund's revenue has grown by 33%, moving from $10.7M to $14.3M. Total assets decreased by 44.6% over the same period, from $16.2M to $9.0M. Total functional expenses rose by 59.9%, from $9.6M to $15.4M. In its most recent filing year (2023), Local 802 Musicians Health Fund reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $2.5M in liabilities against $9.0M in assets (debt-to-asset ratio: 28.4%), resulting in net assets of $6.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $14.3M | $15.4M | $9.0M | $2.5M | — | View 990 |
| 2022 | $12.2M | $10.6M | $9.3M | $1.9M | — | View 990 |
| 2021 | $10.2M | $12.9M | $8.6M | $1.9M | — | View 990 |
| 2020 | $10.4M | $13.7M | $12.5M | $2.0M | — | — |
| 2019 | $15.1M | $16.2M | $16.0M | $2.5M | — | — |
| 2018 | $14.4M | $16.8M | $16.9M | $2.4M | — | View 990 |
| 2017 | $13.8M | $13.6M | $18.7M | $1.5M | — | View 990 |
| 2016 | $14.0M | $13.5M | $17.4M | $1.0M | — | View 990 |
| 2015 | $13.6M | $14.9M | $16.6M | $1.6M | — | View 990 |
| 2014 | $12.0M | $13.2M | $18.5M | $1.4M | — | View 990 |
| 2013 | $11.1M | $11.4M | $19.3M | $1.3M | — | View 990 |
| 2012 | $13.0M | $10.0M | $19.0M | $597K | — | View 990 |
| 2011 | $10.7M | $9.6M | $16.2M | $624K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $14.3M, expenses of $15.4M, and assets of $9.0M (revenue +17.1% year-over-year).
- 2022: Revenue of $12.2M, expenses of $10.6M, and assets of $9.3M (revenue +19.1% year-over-year).
- 2021: Revenue of $10.2M, expenses of $12.9M, and assets of $8.6M (revenue -1.3% year-over-year).
- 2020: Revenue of $10.4M, expenses of $13.7M, and assets of $12.5M (revenue -31.5% year-over-year).
- 2019: Revenue of $15.1M, expenses of $16.2M, and assets of $16.0M (revenue +5.5% year-over-year).
- 2018: Revenue of $14.4M, expenses of $16.8M, and assets of $16.9M (revenue +3.8% year-over-year).
- 2017: Revenue of $13.8M, expenses of $13.6M, and assets of $18.7M (revenue -1.3% year-over-year).
- 2016: Revenue of $14.0M, expenses of $13.5M, and assets of $17.4M (revenue +2.7% year-over-year).
- 2015: Revenue of $13.6M, expenses of $14.9M, and assets of $16.6M (revenue +13.7% year-over-year).
- 2014: Revenue of $12.0M, expenses of $13.2M, and assets of $18.5M (revenue +8.5% year-over-year).
- 2013: Revenue of $11.1M, expenses of $11.4M, and assets of $19.3M (revenue -14.8% year-over-year).
- 2012: Revenue of $13.0M, expenses of $10.0M, and assets of $19.0M (revenue +20.8% year-over-year).
- 2011: Revenue of $10.7M, expenses of $9.6M, and assets of $16.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Local 802 Musicians Health Fund:
Data Sources and Methodology
This transparency report for Local 802 Musicians Health 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.