New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln
New York Shipping Assn Welfare Fund consistently disburses nearly all revenue with no reported officer compensation.
EIN: 131966980 · Bayonne, NJ · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.7M |
| Total Expenses | $5.7M |
| Program Spending | 99% |
| Net Assets | $75K |
| Transparency Score | 90/100 |
Is New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln directs 99% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln (EIN: 131966980) is a nonprofit organization based in Bayonne, NJ. The organization reported total revenue of $5.7M and total assets of $89K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln is a mid-size nonprofit that has been operating for 69 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.7M |
| Total Expenses | $5.7M |
| Surplus / Deficit | +$43K |
| Total Assets | $119K |
| Total Liabilities | $44K |
| Net Assets | $75K |
| Operating Margin | 0.8% |
| Debt-to-Asset Ratio | 36.6% |
| Months of Reserves | 0.3 months |
Financial Health Grade: A
In 2023, New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln reported a surplus of $43K with revenue exceeding expenses, holds 0.3 months of operating reserves (limited), has a debt-to-asset ratio of 36.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln's revenue has grown at a compound annual growth rate (CAGR) of 3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.3% | +9.2% | +69.5% |
| 2022 | +10.6% | +5.1% | +65.1% |
| 2021 | -7.5% | +0.8% | -83.7% |
| 2020 | +10.2% | +5.3% | +515.1% |
| 2019 | +4.4% | +4.3% | -28.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1957 |
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 Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln 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: 1%
- programs: 99%
- fundraising: 0%
According to IRS 990 filings, New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln allocates its expenses as follows: admin: 1%, programs: 99%, fundraising: 0%. With 99% 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 $43K, with revenue exceeding expenses.
- Debt-to-asset ratio: 36.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly unusual for an organization of this revenue size and suggests a volunteer-led or externally managed structure for leadership.
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 Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data
- NTEE Code is unknown, hindering classification and comparative analysis
Strengths
The following positive indicators were identified for New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln:
- Extremely high spending efficiency, with expenses consistently close to revenue (e.g., 2023: $5,690,352 expenses on $5,733,546 revenue).
- Zero reported officer compensation across all filings, indicating strong commitment to direct mission spending.
- Consistent financial operations over a decade, demonstrating stability in revenue and expense management.
- Low liabilities relative to revenue, suggesting good financial control (e.g., $43,596 liabilities vs. $5.7M revenue in 2023).
Frequently Asked Questions about New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln
Is New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln (EIN: 131966980) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln spend its money?
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln directs 99% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln tax-deductible?
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln is registered as a tax-exempt nonprofit (EIN: 131966980). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln located?
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln is headquartered in Bayonne, New Jersey and files with the IRS under EIN 131966980.
How many years of IRS 990 filings does New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln have?
New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln 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 $5.7M in total revenue.
What are the specific programs or benefits provided by this welfare fund?
The IRS 990 data indicates it's a 'Wlfr Fnd&Pln' (Welfare Fund & Plan), implying it provides benefits to union members, but specific details of these benefits are not available in the provided financial summary.
How does the organization manage to operate with such low assets relative to its revenue?
The low asset base (e.g., $118,983 in assets vs. $5.7M revenue in 2023) suggests a model where funds are received and quickly disbursed, likely directly to beneficiaries or for benefit-related expenses, rather than being held as reserves or investments.
Who manages the organization if no officer compensation is reported?
The absence of officer compensation could mean that leadership roles are filled by volunteers, or that compensation for management is covered by a related entity (e.g., the union itself) and not reported on this specific 990 filing.
Filing History
IRS 990 filing history for New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln's revenue has grown by 49.1%, moving from $3.8M to $5.7M. Total assets decreased by 75.1% over the same period, from $477K to $119K. Total functional expenses rose by 50%, from $3.8M to $5.7M. In its most recent filing year (2023), New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln reported a surplus of $43K, with revenue exceeding expenses. The organization holds $44K in liabilities against $119K in assets (debt-to-asset ratio: 36.6%), resulting in net assets of $75K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.7M | $5.7M | $119K | $44K | — | — |
| 2022 | $5.2M | $5.2M | $70K | $38K | — | View 990 |
| 2021 | $4.7M | $5.0M | $43K | $45K | — | View 990 |
| 2020 | $5.1M | $4.9M | $262K | $49K | — | — |
| 2019 | $4.7M | $4.7M | $43K | $42K | — | View 990 |
| 2018 | $4.5M | $4.5M | $60K | $42K | — | View 990 |
| 2017 | $4.5M | $4.7M | $75K | $37K | — | View 990 |
| 2016 | $4.0M | $4.2M | $253K | $38K | — | View 990 |
| 2015 | $4.0M | $4.3M | $433K | $62K | — | View 990 |
| 2014 | $4.0M | $4.0M | $670K | $85K | — | View 990 |
| 2013 | $4.0M | $4.0M | $595K | $68K | — | View 990 |
| 2012 | $4.0M | $3.8M | $554K | $70K | — | View 990 |
| 2011 | $3.8M | $3.8M | $477K | $106K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.7M, expenses of $5.7M, and assets of $119K (revenue +9.3% year-over-year).
- 2022: Revenue of $5.2M, expenses of $5.2M, and assets of $70K (revenue +10.6% year-over-year).
- 2021: Revenue of $4.7M, expenses of $5.0M, and assets of $43K (revenue -7.5% year-over-year).
- 2020: Revenue of $5.1M, expenses of $4.9M, and assets of $262K (revenue +10.2% year-over-year).
- 2019: Revenue of $4.7M, expenses of $4.7M, and assets of $43K (revenue +4.4% year-over-year).
- 2018: Revenue of $4.5M, expenses of $4.5M, and assets of $60K (revenue -1.6% year-over-year).
- 2017: Revenue of $4.5M, expenses of $4.7M, and assets of $75K (revenue +12.1% year-over-year).
- 2016: Revenue of $4.0M, expenses of $4.2M, and assets of $253K (revenue +0.1% year-over-year).
- 2015: Revenue of $4.0M, expenses of $4.3M, and assets of $433K (revenue +-0.0% year-over-year).
- 2014: Revenue of $4.0M, expenses of $4.0M, and assets of $670K (revenue +0.1% year-over-year).
- 2013: Revenue of $4.0M, expenses of $4.0M, and assets of $595K (revenue +2.2% year-over-year).
- 2012: Revenue of $4.0M, expenses of $3.8M, and assets of $554K (revenue +2.8% year-over-year).
- 2011: Revenue of $3.8M, expenses of $3.8M, and assets of $477K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln:
Data Sources and Methodology
This transparency report for New York Shipping Assn Inc Prt Plce &Grds Union Nysa Ppgu Wlfr Fnd&Pln 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.