New York City Local 246 Welfare Fund
New York City Local 246 Welfare Fund consistently maintains positive net income and growing assets with no reported officer compensation.
EIN: 136307146 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $32.6M |
| Total Expenses | $2.4M |
| Program Spending | 85% |
| Net Assets | $8.5M |
| Transparency Score | 85/100 |
Is New York City Local 246 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York City Local 246 Welfare Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York City Local 246 Welfare Fund
New York City Local 246 Welfare Fund (EIN: 136307146) is a nonprofit organization based in New York, NY. The organization reported total revenue of $32.6M and total assets of $10.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York City Local 246 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New York City Local 246 Welfare Fund is a large nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.5M |
| Total Expenses | $2.4M |
| Surplus / Deficit | +$1.1M |
| Total Assets | $8.6M |
| Total Liabilities | $101K |
| Net Assets | $8.5M |
| Operating Margin | 30.4% |
| Debt-to-Asset Ratio | 1.2% |
| Months of Reserves | 42.6 months |
Financial Health Grade: A
In 2023, New York City Local 246 Welfare Fund reported a surplus of $1.1M with revenue exceeding expenses, holds 42.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), New York City Local 246 Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.8% | -5.2% | +13.0% |
| 2022 | -17.2% | -12.1% | -9.7% |
| 2021 | -8.9% | +16.2% | +8.5% |
| 2020 | +21.0% | -10.7% | +33.5% |
| 2019 | -10.7% | -3.7% | +15.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 New York City Local 246 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: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, New York City Local 246 Welfare Fund allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% 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 $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting either that no officers receive compensation directly from the organization or that compensation is reported in a different section of the 990, which would require further review to understand the full administrative cost structure.
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 New York City Local 246 Welfare Fund's IRS 990 filings:
- Lack of detailed functional expense breakdown (program vs. admin vs. fundraising) in provided data, making precise efficiency assessment difficult.
- Consistent 0% officer compensation could indicate compensation is paid through a related entity or not fully disclosed in this section, warranting further investigation.
Strengths
The following positive indicators were identified for New York City Local 246 Welfare Fund:
- Consistent positive net income, with revenues generally exceeding expenses (e.g., $3,492,109 revenue vs. $2,431,511 expenses in 2023).
- Steady growth in assets over the past decade, from $5,176,876 in 2014 to $8,626,139 in 2023, indicating financial stability.
- Relatively low liabilities compared to assets (e.g., $101,384 liabilities vs. $8,626,139 assets in 2023), suggesting strong solvency.
- Consistent filing of IRS Form 990s over 13 periods, demonstrating commitment to regulatory compliance and transparency.
Frequently Asked Questions about New York City Local 246 Welfare Fund
Is New York City Local 246 Welfare Fund a legitimate charity?
New York City Local 246 Welfare Fund (EIN: 136307146) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $32.6M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does New York City Local 246 Welfare Fund spend its money?
New York City Local 246 Welfare Fund directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to New York City Local 246 Welfare Fund tax-deductible?
New York City Local 246 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 136307146). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is New York City Local 246 Welfare Fund located?
New York City Local 246 Welfare Fund is headquartered in New York, New York and files with the IRS under EIN 136307146.
How many years of IRS 990 filings does New York City Local 246 Welfare Fund have?
New York City Local 246 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 $32.6M in total revenue.
What is the detailed breakdown of program service expenses versus administrative expenses?
The provided data only gives total expenses. A detailed breakdown of functional expenses (program services, management and general, fundraising) is needed to accurately assess spending efficiency. For example, in 2023, total expenses were $2,431,511, but how much of that directly went to member benefits versus administrative overhead is not specified.
How does the organization manage its investment assets to ensure long-term sustainability?
The organization has shown consistent asset growth, from $5,176,876 in 2014 to $8,626,139 in 2023. Understanding the investment strategy and performance would provide insight into how these assets are managed to support future welfare fund obligations.
Are there any related organizations or entities through which officer compensation might be paid?
The consistent 0% officer compensation reported across all filings is notable. It would be important to investigate if officers are compensated through a related entity or if their roles are purely voluntary, to fully understand the true administrative costs.
Filing History
IRS 990 filing history for New York City Local 246 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New York City Local 246 Welfare Fund's revenue has grown by 30.3%, moving from $2.7M to $3.5M. Total assets increased by 89.2% over the same period, from $4.6M to $8.6M. Total functional expenses rose by 0.1%, from $2.4M to $2.4M. In its most recent filing year (2023), New York City Local 246 Welfare Fund reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $101K in liabilities against $8.6M in assets (debt-to-asset ratio: 1.2%), resulting in net assets of $8.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.5M | $2.4M | $8.6M | $101K | — | — |
| 2022 | $2.9M | $2.6M | $7.6M | $100K | — | View 990 |
| 2021 | $3.5M | $2.9M | $8.4M | $570K | — | View 990 |
| 2020 | $3.8M | $2.5M | $7.8M | $69K | — | — |
| 2019 | $3.2M | $2.8M | $5.8M | $99K | — | View 990 |
| 2018 | $3.6M | $2.9M | $5.0M | $158K | — | View 990 |
| 2017 | $2.9M | $2.9M | $5.3M | $303K | — | View 990 |
| 2016 | $2.6M | $3.0M | $4.6M | $208K | — | View 990 |
| 2015 | $2.7M | $3.0M | $4.8M | $229K | — | View 990 |
| 2014 | $2.8M | $2.4M | $5.2M | $82K | — | View 990 |
| 2013 | $2.5M | $2.2M | $4.9M | $81K | — | View 990 |
| 2012 | $2.5M | $2.4M | $4.7M | $136K | — | View 990 |
| 2011 | $2.7M | $2.4M | $4.6M | $218K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.5M, expenses of $2.4M, and assets of $8.6M (revenue +20.8% year-over-year).
- 2022: Revenue of $2.9M, expenses of $2.6M, and assets of $7.6M (revenue -17.2% year-over-year).
- 2021: Revenue of $3.5M, expenses of $2.9M, and assets of $8.4M (revenue -8.9% year-over-year).
- 2020: Revenue of $3.8M, expenses of $2.5M, and assets of $7.8M (revenue +21.0% year-over-year).
- 2019: Revenue of $3.2M, expenses of $2.8M, and assets of $5.8M (revenue -10.7% year-over-year).
- 2018: Revenue of $3.6M, expenses of $2.9M, and assets of $5.0M (revenue +20.6% year-over-year).
- 2017: Revenue of $2.9M, expenses of $2.9M, and assets of $5.3M (revenue +12.2% year-over-year).
- 2016: Revenue of $2.6M, expenses of $3.0M, and assets of $4.6M (revenue -1.6% year-over-year).
- 2015: Revenue of $2.7M, expenses of $3.0M, and assets of $4.8M (revenue -4.1% year-over-year).
- 2014: Revenue of $2.8M, expenses of $2.4M, and assets of $5.2M (revenue +11.5% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.2M, and assets of $4.9M (revenue -0.8% year-over-year).
- 2012: Revenue of $2.5M, expenses of $2.4M, and assets of $4.7M (revenue -6.2% year-over-year).
- 2011: Revenue of $2.7M, expenses of $2.4M, and assets of $4.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New York City Local 246 Welfare Fund:
Data Sources and Methodology
This transparency report for New York City Local 246 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.