Teamsters Local 445 Welfare Fund
Teamsters Local 445 Welfare Fund consistently spends more than it earns, drawing down assets.
EIN: 146022213 · Rock Tavern, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.1M |
| Total Expenses | $7.0M |
| Program Spending | 90% |
| Net Assets | $3.4M |
| Transparency Score | 65/100 |
Is Teamsters Local 445 Welfare Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Teamsters Local 445 Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Teamsters Local 445 Welfare Fund
Teamsters Local 445 Welfare Fund (EIN: 146022213) is a nonprofit organization based in Rock Tavern, NY. The organization reported total revenue of $7.1M and total assets of $5.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Teamsters Local 445 Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Teamsters Local 445 Welfare Fund is a mid-size nonprofit that has been operating for 65 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.4M |
| Total Expenses | $7.0M |
| Surplus / Deficit | $-1,639,257 |
| Total Assets | $4.7M |
| Total Liabilities | $1.3M |
| Net Assets | $3.4M |
| Operating Margin | -30.4% |
| Debt-to-Asset Ratio | 27.0% |
| Months of Reserves | 8.0 months |
Financial Health Grade: B
In 2023, Teamsters Local 445 Welfare Fund reported a deficit of $1.6M with expenses exceeding revenue, holds 8.0 months of operating reserves (strong position), has a debt-to-asset ratio of 27.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Teamsters Local 445 Welfare Fund's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.5% | +21.1% | -21.0% |
| 2022 | -27.2% | -19.7% | -21.8% |
| 2021 | +32.4% | -8.3% | -9.7% |
| 2020 | -28.8% | -6.8% | -20.5% |
| 2019 | +2.4% | +12.4% | -1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1961 |
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 Teamsters Local 445 Welfare Fund with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Teamsters Local 445 Welfare Fund allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 deficit of $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 27.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to officers, which is a strong positive for financial transparency and resource allocation.
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 Teamsters Local 445 Welfare Fund's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in recent years, such as $7,023,875 in expenses vs. $5,384,618 in revenue in 2023.
- Significant decline in total assets from $11,846,204 in 2017 to $4,684,881 in 2023, indicating a draw-down on reserves.
- Liabilities remain substantial, at $1,262,946 in 2023, relative to declining assets.
Strengths
The following positive indicators were identified for Teamsters Local 445 Welfare Fund:
- Consistent reporting of 0% officer compensation across all filings, indicating no executive pay.
- Regular and consistent filing of IRS Form 990s over 13 periods, demonstrating compliance and transparency.
- Likely high program spending, inherent to a welfare fund's purpose of providing benefits.
Frequently Asked Questions about Teamsters Local 445 Welfare Fund
Is Teamsters Local 445 Welfare Fund a legitimate charity?
Teamsters Local 445 Welfare Fund (EIN: 146022213) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $7.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Teamsters Local 445 Welfare Fund spend its money?
Teamsters Local 445 Welfare Fund directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Teamsters Local 445 Welfare Fund tax-deductible?
Teamsters Local 445 Welfare Fund is registered as a tax-exempt nonprofit (EIN: 146022213). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Teamsters Local 445 Welfare Fund's spending goes to programs?
Teamsters Local 445 Welfare Fund directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Teamsters Local 445 Welfare Fund located?
Teamsters Local 445 Welfare Fund is headquartered in Rock Tavern, New York and files with the IRS under EIN 146022213.
How many years of IRS 990 filings does Teamsters Local 445 Welfare Fund have?
Teamsters Local 445 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 $7.1M in total revenue.
Is Teamsters Local 445 Welfare Fund financially sustainable?
The fund has consistently reported expenses exceeding revenues in recent years, leading to a significant decline in assets from $11.8M in 2017 to $4.6M in 2023. This trend suggests potential long-term sustainability challenges if not addressed.
What is the primary purpose of the Teamsters Local 445 Welfare Fund?
As a welfare fund, its primary purpose is typically to provide benefits (e.g., health, pension) to its members. The high program spending percentage reflects this core function.
Why are assets declining?
Assets are declining because the fund's expenses have frequently exceeded its revenues. For example, in 2023, expenses were $7,023,875 against revenues of $5,384,618, resulting in a net loss that reduces assets.
Filing History
IRS 990 filing history for Teamsters Local 445 Welfare Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Teamsters Local 445 Welfare Fund's revenue has grown by 54.8%, moving from $3.5M to $5.4M. Total assets decreased by 49.6% over the same period, from $9.3M to $4.7M. Total functional expenses rose by 88.2%, from $3.7M to $7.0M. In its most recent filing year (2023), Teamsters Local 445 Welfare Fund reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $4.7M in assets (debt-to-asset ratio: 27.0%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.4M | $7.0M | $4.7M | $1.3M | — | — |
| 2022 | $5.1M | $5.8M | $5.9M | $1.1M | — | — |
| 2021 | $6.9M | $7.2M | $7.6M | $754K | — | View 990 |
| 2020 | $5.2M | $7.9M | $8.4M | $767K | — | — |
| 2019 | $7.4M | $8.5M | $10.6M | $674K | — | View 990 |
| 2018 | $7.2M | $7.5M | $10.7M | $709K | — | View 990 |
| 2017 | $5.3M | $5.4M | $11.8M | $444K | — | View 990 |
| 2016 | $5.8M | $5.3M | $11.4M | $646K | — | View 990 |
| 2015 | $5.3M | $5.2M | $11.0M | $637K | — | View 990 |
| 2014 | $4.9M | $3.7M | $11.4M | $671K | — | View 990 |
| 2013 | $4.4M | $3.9M | $9.9M | $406K | — | View 990 |
| 2012 | $4.0M | $4.0M | $9.3M | $529K | — | View 990 |
| 2011 | $3.5M | $3.7M | $9.3M | $580K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.4M, expenses of $7.0M, and assets of $4.7M (revenue +6.5% year-over-year).
- 2022: Revenue of $5.1M, expenses of $5.8M, and assets of $5.9M (revenue -27.2% year-over-year).
- 2021: Revenue of $6.9M, expenses of $7.2M, and assets of $7.6M (revenue +32.4% year-over-year).
- 2020: Revenue of $5.2M, expenses of $7.9M, and assets of $8.4M (revenue -28.8% year-over-year).
- 2019: Revenue of $7.4M, expenses of $8.5M, and assets of $10.6M (revenue +2.4% year-over-year).
- 2018: Revenue of $7.2M, expenses of $7.5M, and assets of $10.7M (revenue +34.8% year-over-year).
- 2017: Revenue of $5.3M, expenses of $5.4M, and assets of $11.8M (revenue -8.6% year-over-year).
- 2016: Revenue of $5.8M, expenses of $5.3M, and assets of $11.4M (revenue +9.6% year-over-year).
- 2015: Revenue of $5.3M, expenses of $5.2M, and assets of $11.0M (revenue +8.8% year-over-year).
- 2014: Revenue of $4.9M, expenses of $3.7M, and assets of $11.4M (revenue +11.1% year-over-year).
- 2013: Revenue of $4.4M, expenses of $3.9M, and assets of $9.9M (revenue +9.3% year-over-year).
- 2012: Revenue of $4.0M, expenses of $4.0M, and assets of $9.3M (revenue +15.9% year-over-year).
- 2011: Revenue of $3.5M, expenses of $3.7M, and assets of $9.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Teamsters Local 445 Welfare Fund:
Data Sources and Methodology
This transparency report for Teamsters Local 445 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.