Teamsters Local Union No 408 I B Of T Welfare Fund

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Teamsters Local Union No 408 I B Of T Welfare Fund Form 990, Revenue, CEO Pay, and IRS Filing Signals

Teamsters Local Union No 408 I B Of T Welfare Fund is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Teamsters Local Union No 408 I B Of T Welfare Fund in one place.

Is Teamsters Local Union No 408 I B Of T Welfare Fund Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Where the Money Comes From and Where It Goes

Across stored filings, Teamsters Local Union No 408 I B Of T Welfare Fund shows contribution history pending. Next enrichment targets: revenue-source fields, functional expense detail, IRS BMF classification.

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About Teamsters Local Union No 408 I B Of T Welfare Fund

Teamsters Local Union No 408 I B Of T Welfare Fund (EIN: 221668940) is a nonprofit organization based in Union, NJ. The organization reported total revenue of $15.9M and total assets of $13.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Teamsters Local Union No 408 I B Of T Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Teamsters Local Union No 408 I B Of T Welfare Fund is a large nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.0%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2023, Teamsters Local Union No 408 I B Of T Welfare Fund reported a deficit of $350K with expenses exceeding revenue, holds 36.2 months of operating reserves (strong position), has a debt-to-asset ratio of 3.9% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Teamsters Local Union No 408 I B Of T Welfare Fund's revenue has declined at a compound annual growth rate (CAGR) of -4.0%.

IRS Tax-Exempt Classification

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 Union No 408 I B Of T 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: 100%
• programs: 0%
• fundraising: 0%

According to IRS 990 filings, Teamsters Local Union No 408 I B Of T Welfare Fund allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $350K, with expenses exceeding revenue.
• Debt-to-asset ratio: 3.9%.

Executive Compensation Analysis

Executive compensation cannot be assessed as specific figures for individual executives are not provided in the summarized data.

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 Union No 408 I B Of T Welfare Fund's IRS 990 filings:

• Zero reported program service expenses (0%) raises significant concerns about the fund's direct benefit to members.
• Consistent net losses (expenses exceeding revenue) over multiple years (e.g., $3,864,102 revenue vs. $4,214,050 expenses in 2023) are unsustainable.
• The substantial increase in liabilities to $494,406 in 2023 warrants further investigation.

Strengths

The following positive indicators were identified for Teamsters Local Union No 408 I B Of T Welfare Fund:

• The fund maintains a significant asset base, with $12,727,013 in assets reported for 2023.
• Assets have remained relatively stable over the past several years, despite operational losses.

Frequently Asked Questions about Teamsters Local Union No 408 I B Of T Welfare Fund

Filing History

IRS 990 filing history for Teamsters Local Union No 408 I B Of T Welfare Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Teamsters Local Union No 408 I B Of T Welfare Fund's revenue has declined by 39.1%, moving from $6.3M to $3.9M. Total assets increased by 64.2% over the same period, from $7.8M to $12.7M. Total functional expenses fell by 20.1%, from $5.3M to $4.2M. In its most recent filing year (2023), Teamsters Local Union No 408 I B Of T Welfare Fund reported a deficit of $350K, with expenses exceeding revenue. The organization holds $494K in liabilities against $12.7M in assets (debt-to-asset ratio: 3.9%), resulting in net assets of $12.2M.

Year-by-Year Financial Summary

• 2023: Revenue of $3.9M, expenses of $4.2M, and assets of $12.7M (revenue +26.9% year-over-year).
• 2022: Revenue of $3.0M, expenses of $3.8M, and assets of $11.6M (revenue -32.7% year-over-year).
• 2021: Revenue of $4.5M, expenses of $2.9M, and assets of $14.0M (revenue +26.6% year-over-year).
• 2020: Revenue of $3.6M, expenses of $3.0M, and assets of $12.3M (revenue -13.7% year-over-year).
• 2019: Revenue of $4.1M, expenses of $4.0M, and assets of $11.4M (revenue -6.6% year-over-year).
• 2018: Revenue of $4.4M, expenses of $4.0M, and assets of $10.4M (revenue +0.9% year-over-year).
• 2017: Revenue of $4.4M, expenses of $4.0M, and assets of $10.5M (revenue +2.1% year-over-year).
• 2016: Revenue of $4.3M, expenses of $3.3M, and assets of $9.8M (revenue +23.6% year-over-year).
• 2015: Revenue of $3.5M, expenses of $4.1M, and assets of $8.5M (revenue -21.1% year-over-year).
• 2014: Revenue of $4.4M, expenses of $4.0M, and assets of $8.9M (revenue -0.5% year-over-year).
• 2013: Revenue of $4.4M, expenses of $4.7M, and assets of $9.1M (revenue -11.9% year-over-year).
• 2012: Revenue of $5.0M, expenses of $4.4M, and assets of $9.0M (revenue -20.7% year-over-year).
• 2011: Revenue of $6.3M, expenses of $5.3M, and assets of $7.8M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Teamsters Local Union No 408 I B Of T Welfare Fund:

Data Sources and Methodology

This transparency report for Teamsters Local Union No 408 I B Of T 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.