Ufcw Local 342 Safety Educational Cultural And Activities Fund
UFCW Local 342 Fund shows consistent asset growth but reported a deficit in its latest fiscal period.
EIN: 112447683 · Bohemia, NY · Updated: 2026-03-28
Is Ufcw Local 342 Safety Educational Cultural And Activities Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ufcw Local 342 Safety Educational Cultural And Activities Fund directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ufcw Local 342 Safety Educational Cultural And Activities Fund
Ufcw Local 342 Safety Educational Cultural And Activities Fund (EIN: 112447683) is a nonprofit organization based in Bohemia, NY. The organization reported total revenue of $2.7M and total assets of $3.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ufcw Local 342 Safety Educational Cultural And Activities Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ufcw Local 342 Safety Educational Cultural And Activities Fund is a mid-size nonprofit that has been operating for 36 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-103,625 |
| Total Assets | $3.8M |
| Total Liabilities | $22K |
| Net Assets | $3.7M |
| Operating Margin | -3.9% |
| Debt-to-Asset Ratio | 0.6% |
| Months of Reserves | 16.2 months |
Financial Health Grade: B
In 2023, Ufcw Local 342 Safety Educational Cultural And Activities Fund reported a deficit of $104K with expenses exceeding revenue, holds 16.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ufcw Local 342 Safety Educational Cultural And Activities Fund's revenue has grown at a compound annual growth rate (CAGR) of 4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +13.9% | +49.0% | -0.7% |
| 2022 | +1.5% | +9.2% | +14.6% |
| 2021 | -4.0% | -13.3% | +21.9% |
| 2020 | +12.7% | +8.7% | +19.6% |
| 2019 | +1.8% | +6.8% | +16.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Ufcw Local 342 Safety Educational Cultural And Activities Fund with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Ufcw Local 342 Safety Educational Cultural And Activities Fund allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $104K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive salaries are either not paid or are covered by an affiliated entity, which could be a positive for donor perception regarding overhead.
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 Ufcw Local 342 Safety Educational Cultural And Activities Fund's IRS 990 filings:
- Expenses exceeded revenue in the most recent fiscal period (202312), indicating a deficit for that year.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data limits full spending efficiency assessment.
Strengths
The following positive indicators were identified for Ufcw Local 342 Safety Educational Cultural And Activities Fund:
- Consistent growth in assets over the past decade, from $1,090,540 in 2014 to $3,751,244 currently.
- Low liabilities relative to assets, indicating a strong balance sheet.
- No reported officer compensation, which can be viewed positively for overhead efficiency.
- Consistent revenue generation over multiple years, demonstrating financial sustainability.
Frequently Asked Questions about Ufcw Local 342 Safety Educational Cultural And Activities Fund
Is Ufcw Local 342 Safety Educational Cultural And Activities Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Ufcw Local 342 Safety Educational Cultural And Activities Fund (EIN: 112447683) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Ufcw Local 342 Safety Educational Cultural And Activities Fund spend its money?
Ufcw Local 342 Safety Educational Cultural And Activities Fund directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ufcw Local 342 Safety Educational Cultural And Activities Fund tax-deductible?
Ufcw Local 342 Safety Educational Cultural And Activities Fund is registered as a tax-exempt nonprofit (EIN: 112447683). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the deficit in the 202312 fiscal period, where expenses ($2,787,282) exceeded revenue ($2,683,657)?
The provided data does not specify the reasons for the deficit in the latest period. It could be due to increased program activities, one-time expenditures, or a temporary dip in revenue.
How are the organization's expenses allocated between program services, administrative costs, and fundraising efforts?
The provided IRS 990 summary data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to assess spending efficiency precisely.
Given the consistent 0% officer compensation, how are the organization's leadership and management compensated, if at all?
The filings indicate no direct officer compensation. This could mean that leadership is unpaid, compensated by an affiliated entity, or that compensation is reported under a different expense category not specified in the summary data.
What specific safety, educational, cultural, and activities programs does the fund support with its annual expenses?
The provided financial data does not detail the specific programs or activities funded by the organization. Further review of the full IRS 990 form would be needed to understand its programmatic impact.
What is the long-term strategy for managing expenses to ensure continued asset growth and avoid future deficits?
The provided data does not outline the organization's strategic financial planning. While assets have grown historically, the recent deficit suggests a need for careful expense management moving forward.
Filing History
IRS 990 filing history for Ufcw Local 342 Safety Educational Cultural And Activities Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ufcw Local 342 Safety Educational Cultural And Activities Fund's revenue has grown by 74.9%, moving from $1.5M to $2.7M. Total assets increased by 205.6% over the same period, from $1.2M to $3.8M. Total functional expenses rose by 109%, from $1.3M to $2.8M. In its most recent filing year (2023), Ufcw Local 342 Safety Educational Cultural And Activities Fund reported a deficit of $104K, with expenses exceeding revenue. The organization holds $22K in liabilities against $3.8M in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $3.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.8M | $3.8M | $22K | — | — |
| 2022 | $2.4M | $1.9M | $3.8M | $34K | — | — |
| 2021 | $2.3M | $1.7M | $3.3M | $38K | — | View 990 |
| 2020 | $2.4M | $2.0M | $2.7M | $52K | — | View 990 |
| 2019 | $2.1M | $1.8M | $2.3M | $48K | — | View 990 |
| 2018 | $2.1M | $1.7M | $1.9M | $52K | — | View 990 |
| 2017 | $2.0M | $1.8M | $1.6M | $78K | — | — |
| 2016 | $1.8M | $1.6M | $1.4M | $62K | — | View 990 |
| 2015 | $1.9M | $1.8M | $1.2M | $77K | — | View 990 |
| 2014 | $1.9M | $2.9M | $1.1M | $58K | — | View 990 |
| 2013 | $2.0M | $1.5M | $2.0M | $42K | — | View 990 |
| 2012 | $1.6M | $1.2M | $1.7M | $156K | — | View 990 |
| 2011 | $1.5M | $1.3M | $1.2M | $149K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.8M, and assets of $3.8M (revenue +13.9% year-over-year).
- 2022: Revenue of $2.4M, expenses of $1.9M, and assets of $3.8M (revenue +1.5% year-over-year).
- 2021: Revenue of $2.3M, expenses of $1.7M, and assets of $3.3M (revenue -4.0% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.0M, and assets of $2.7M (revenue +12.7% year-over-year).
- 2019: Revenue of $2.1M, expenses of $1.8M, and assets of $2.3M (revenue +1.8% year-over-year).
- 2018: Revenue of $2.1M, expenses of $1.7M, and assets of $1.9M (revenue +7.5% year-over-year).
- 2017: Revenue of $2.0M, expenses of $1.8M, and assets of $1.6M (revenue +6.8% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.6M, and assets of $1.4M (revenue -3.0% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.8M, and assets of $1.2M (revenue -2.7% year-over-year).
- 2014: Revenue of $1.9M, expenses of $2.9M, and assets of $1.1M (revenue -3.2% year-over-year).
- 2013: Revenue of $2.0M, expenses of $1.5M, and assets of $2.0M (revenue +22.3% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.2M, and assets of $1.7M (revenue +7.1% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.3M, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ufcw Local 342 Safety Educational Cultural And Activities Fund:
Data Sources and Methodology
This transparency report for Ufcw Local 342 Safety Educational Cultural And Activities 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.