Plumbers Local Union No 1 Welfare Fund

Plumbers Local Union No 1 Welfare Fund consistently spent more than it earned, with assets declining significantly over time and currently reported as $0.

EIN: 111870373 · Long Island City, NY · NTEE: Y43 · Updated: 2026-03-28

$21.3MRevenue

$0Assets

50/100Mission Score (Fair)

Y43

About Plumbers Local Union No 1 Welfare Fund

Plumbers Local Union No 1 Welfare Fund (EIN: 111870373) is a nonprofit organization based in Long Island City, NY, classified under NTEE code Y43. The organization reported total revenue of $21.3M and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Plumbers Local Union No 1 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Plumbers Local Union No 1 Welfare Fund appears to be a welfare benefit fund, which typically operates differently from traditional public charities. Its financial health, as indicated by the provided data, shows a consistent trend of expenses exceeding revenue across all reported periods. For instance, in 2018, expenses were $5,328,579 against revenues of $2,731,481. This suggests the fund may be drawing down on its assets or receiving contributions not fully captured in the 'Revenue' line item, which is common for such funds that manage existing assets for member benefits rather than actively fundraising. The organization's assets have also shown a declining trend, from $82,325,423 in 2011 to $65,491,699 in 2018, and are currently reported as $0, which is a significant change requiring further investigation into the latest filing. 

Regarding spending efficiency, without a detailed breakdown of expenses (e.g., program services vs. administrative), it's challenging to assess. However, the NTEE code Y43 (Employee or Member Welfare Benefit Funds) suggests its primary purpose is to provide benefits, which would inherently be considered 'program' spending. The consistent reporting of 0% officer compensation across all periods indicates good transparency in executive pay, or that officers are compensated through other means not reported here. The current $0 asset figure is a major concern for a welfare fund and warrants immediate attention to understand its implications for the fund's long-term viability and ability to meet its obligations.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Plumbers Local Union No 1 Welfare Fund with a Mission Score of 50 out of 100 (Fair). 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, Plumbers Local Union No 1 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.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, suggesting officers are either unpaid or compensated through other entities, which is a positive indicator for transparency if truly unpaid relative to the organization's size and purpose.

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 Plumbers Local Union No 1 Welfare Fund's IRS 990 filings:

Consistent operational deficits where expenses exceed revenue across all reported periods.
Significant decline in assets from $82,325,423 in 2011 to $65,491,699 in 2018, culminating in a current report of $0 assets.
Lack of detailed expense breakdown to fully assess spending efficiency beyond the general nature of a welfare fund.

Strengths

The following positive indicators were identified for Plumbers Local Union No 1 Welfare Fund:

Consistent reporting of 0% officer compensation, indicating either unpaid leadership or compensation handled externally, which can be a positive for internal cost management.
The organization's NTEE code (Y43) suggests a clear focus on member welfare, implying that most spending is inherently programmatic.

Frequently Asked Questions about Plumbers Local Union No 1 Welfare Fund

Why are the organization's assets currently reported as $0, given its history of tens of millions in assets?

The provided data shows a drastic change from $65,491,699 in assets in 2018 to $0 currently. This requires examining the most recent IRS 990 filing to understand if the fund was dissolved, merged, or if there's a reporting anomaly.

What is the detailed breakdown of expenses to understand program spending versus administrative costs?

The provided data only gives total expenses. A detailed breakdown from the IRS 990, Part IX, Statement of Functional Expenses, would be necessary to accurately assess spending efficiency.

How does the fund cover its consistent deficit where expenses exceed revenue?

Across all reported periods, expenses significantly outpaced revenue (e.g., $5,328,579 expenses vs. $2,731,481 revenue in 2018). This suggests the fund was drawing down on its assets, which aligns with the observed asset decline, or receiving other forms of contributions not categorized as 'Revenue'.

What is the long-term sustainability plan for the fund given its financial trends?

With declining assets and consistent operational deficits, the fund's long-term ability to provide benefits is questionable, especially with the current $0 asset report.

Filing History

IRS 990 filing history for Plumbers Local Union No 1 Welfare Fund showing financial trends over 8 years of public records:

Over 8 years of IRS 990 filings (2011–2018), Plumbers Local Union No 1 Welfare Fund's revenue has declined by 73.2%, moving from $10.2M to $2.7M. Total assets decreased by 20.4% over the same period, from $82.3M to $65.5M. Total functional expenses fell by 55.9%, from $12.1M to $5.3M. In its most recent filing year (2018), Plumbers Local Union No 1 Welfare Fund reported a deficit of $2.6M, with expenses exceeding revenue. The organization holds $385K in liabilities against $65.5M in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $65.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2018	$2.7M	$5.3M	$65.5M	$385K	—	View 990
2017	$3.3M	$5.6M	$73.3M	$411K	—	—
2016	$4.5M	$6.2M	$70.7M	$414K	—	View 990
2015	$3.5M	$8.1M	$73.0M	$787K	—	View 990
2014	$6.3M	$9.5M	$80.5M	$1.1M	—	View 990
2013	$6.2M	$9.2M	$83.4M	$1.5M	—	View 990
2012	$4.4M	$10.3M	$83.1M	$248K	—	View 990
2011	$10.2M	$12.1M	$82.3M	$274K	—	View 990

Year-by-Year Financial Summary

2018: Revenue of $2.7M, expenses of $5.3M, and assets of $65.5M (revenue -17.3% year-over-year).
2017: Revenue of $3.3M, expenses of $5.6M, and assets of $73.3M (revenue -26.8% year-over-year).
2016: Revenue of $4.5M, expenses of $6.2M, and assets of $70.7M (revenue +30.3% year-over-year).
2015: Revenue of $3.5M, expenses of $8.1M, and assets of $73.0M (revenue -44.7% year-over-year).
2014: Revenue of $6.3M, expenses of $9.5M, and assets of $80.5M (revenue +1.0% year-over-year).
2013: Revenue of $6.2M, expenses of $9.2M, and assets of $83.4M (revenue +42.2% year-over-year).
2012: Revenue of $4.4M, expenses of $10.3M, and assets of $83.1M (revenue -57.3% year-over-year).
2011: Revenue of $10.2M, expenses of $12.1M, and assets of $82.3M.

Data Sources and Methodology

This transparency report for Plumbers Local Union No 1 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.