Local 947 Health & Welfare Fund
Local 947 Health & Welfare Fund shows strong financial growth and no reported officer compensation.
EIN: 134191811 · Kings Park, NY · NTEE: Y43 · Updated: 2026-03-28
Is Local 947 Health & Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Local 947 Health & Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Local 947 Health & Welfare Fund
Local 947 Health & Welfare Fund (EIN: 134191811) is a nonprofit organization based in Kings Park, NY, classified under NTEE code Y43. The organization reported total revenue of $5.8M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Local 947 Health & Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Local 947 Health & Welfare Fund is a mid-size nonprofit that has been operating for 12 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.1M |
| Total Expenses | $4.6M |
| Surplus / Deficit | +$494K |
| Total Assets | $1.5M |
| Net Assets | $1.5M |
| Operating Margin | 9.6% |
| Months of Reserves | 3.8 months |
Financial Health Grade: A
In 2023, Local 947 Health & Welfare Fund reported a surplus of $494K with revenue exceeding expenses, holds 3.8 months of operating reserves (adequate).
Financial Trends
Over 11 years of filings (2013–2023), Local 947 Health & Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +77.9% | +70.7% | +46.7% |
| 2022 | +66.1% | +58.3% | +12.6% |
| 2021 | -9.0% | -2.6% | +5.2% |
| 2020 | -42.0% | -43.9% | +22.0% |
| 2019 | +104.8% | +113.7% | +13.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 947 Health & Welfare 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Local 947 Health & 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $494K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly favorable, suggesting that all resources are directed towards the organization's mission rather than executive salaries.
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 947 Health & Welfare Fund's IRS 990 filings:
- N/A - No significant red flags identified based on provided data.
Strengths
The following positive indicators were identified for Local 947 Health & Welfare Fund:
- Consistent revenue growth, especially in recent periods (e.g., $2.8M in 2022 to $5.1M in 2023).
- Healthy operating surplus, with revenues consistently exceeding expenses (e.g., $5.1M revenue vs. $4.6M expenses in 2023).
- Strong asset growth, increasing from $1.0M in 2022 to $1.4M in 2023.
- 0% officer compensation reported across all filings, indicating efficient use of funds.
- No reported liabilities in the latest filing (202309), demonstrating strong financial health.
Frequently Asked Questions about Local 947 Health & Welfare Fund
Is Local 947 Health & Welfare Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Local 947 Health & Welfare Fund (EIN: 134191811) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Local 947 Health & Welfare Fund spend its money?
Local 947 Health & Welfare Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Local 947 Health & Welfare Fund tax-deductible?
Local 947 Health & Welfare Fund is registered as a tax-exempt nonprofit (EIN: 134191811). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Local 947 Health & Welfare Fund a good charity?
Based on the available financial data, Local 947 Health & Welfare Fund appears to be a well-managed organization. It consistently operates with a surplus, has growing assets, and reports 0% officer compensation, all of which are positive indicators of a good charity.
How has the organization's revenue trended over time?
The organization's revenue has shown significant growth, particularly in recent years. It increased from $2,879,144 in 2022 to $5,122,334 in 2023, and the latest reported revenue is $5,804,180, indicating a strong upward trend.
What is the organization's asset growth like?
Assets have shown consistent growth, increasing from $1,009,847 in 2022 to $1,481,730 in 2023, and currently stand at $1,609,090. This indicates a healthy accumulation of resources and financial stability.
Filing History
IRS 990 filing history for Local 947 Health & Welfare Fund showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Local 947 Health & Welfare Fund's revenue has grown by 113.4%, moving from $2.4M to $5.1M. Total assets increased by 153.8% over the same period, from $584K to $1.5M. Total functional expenses rose by 79.3%, from $2.6M to $4.6M. In its most recent filing year (2023), Local 947 Health & Welfare Fund reported a surplus of $494K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.1M | $4.6M | $1.5M | $0 | — | — |
| 2022 | $2.9M | $2.7M | $1.0M | $22K | — | View 990 |
| 2021 | $1.7M | $1.7M | $897K | $76K | — | View 990 |
| 2020 | $1.9M | $1.8M | $852K | $53K | — | View 990 |
| 2019 | $3.3M | $3.1M | $699K | $45K | — | View 990 |
| 2018 | $1.6M | $1.5M | $615K | $111K | — | View 990 |
| 2017 | $1.3M | $1.1M | $414K | $47K | — | View 990 |
| 2016 | $1.5M | $1.3M | $314K | $62K | — | View 990 |
| 2015 | $1.9M | $1.9M | $235K | $98K | — | View 990 |
| 2014 | $1.9M | $2.3M | $277K | $136K | — | View 990 |
| 2013 | $2.4M | $2.6M | $584K | $91K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $5.1M, expenses of $4.6M, and assets of $1.5M (revenue +77.9% year-over-year).
- 2022: Revenue of $2.9M, expenses of $2.7M, and assets of $1.0M (revenue +66.1% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.7M, and assets of $897K (revenue -9.0% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.8M, and assets of $852K (revenue -42.0% year-over-year).
- 2019: Revenue of $3.3M, expenses of $3.1M, and assets of $699K (revenue +104.8% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.5M, and assets of $615K (revenue +25.5% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.1M, and assets of $414K (revenue -12.2% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.3M, and assets of $314K (revenue -22.9% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.9M, and assets of $235K (revenue -2.2% year-over-year).
- 2014: Revenue of $1.9M, expenses of $2.3M, and assets of $277K (revenue -19.6% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.6M, and assets of $584K.
Data Sources and Methodology
This transparency report for Local 947 Health & 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.