W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr
Firefighters' Retiree Health Benefit Fund shows consistent asset growth and no officer compensation, but liabilities consistently exceed assets.
EIN: 161628464 · Greenacres, FL · Updated: 2026-03-28
Is W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr
W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr (EIN: 161628464) is a nonprofit organization based in Greenacres, FL. The organization reported total revenue of $1.2M and total assets of $14.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr is a mid-size nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $629K |
| Surplus / Deficit | +$384K |
| Total Assets | $11.0M |
| Total Liabilities | $13.9M |
| Net Assets | $-2,844,499 |
| Operating Margin | 37.9% |
| Debt-to-Asset Ratio | 125.8% |
| Months of Reserves | 210.2 months |
Financial Health Grade: A
In 2023, W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr reported a surplus of $384K with revenue exceeding expenses, holds 210.2 months of operating reserves (strong position), has a debt-to-asset ratio of 125.8% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr's revenue has grown at a compound annual growth rate (CAGR) of 2.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.3% | +9.2% | -6.0% |
| 2022 | -26.6% | +7.1% | +5.2% |
| 2021 | +67.8% | +2.4% | +40.5% |
| 2020 | +11.5% | +8.2% | -6.0% |
| 2019 | -35.4% | +4.2% | +4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $384K, with revenue exceeding expenses.
- Debt-to-asset ratio: 125.8%.
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 its size with assets exceeding $11 million.
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 W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr's IRS 990 filings:
- Liabilities consistently exceed assets across all reported periods, indicating potential long-term solvency concerns (e.g., $13.8M liabilities vs. $11.0M assets in 2023).
- Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided data makes it difficult to fully assess spending efficiency.
- NTEE code is unknown, which limits understanding of its specific operational category and comparable benchmarks.
Strengths
The following positive indicators were identified for W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr:
- Consistent asset growth over the past decade, from $6.0 million in 2014 to $11.0 million in 2023.
- Reports 0% officer compensation across all filings, indicating a strong commitment to directing funds towards its mission rather than executive salaries.
- Expenses are generally well below revenue, allowing for asset accumulation and financial stability in most years (e.g., $629,100 expenses vs. $1,013,372 revenue in 2023).
Frequently Asked Questions about W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr
Is W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr (EIN: 161628464) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr spend its money?
W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr tax-deductible?
W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr is registered as a tax-exempt nonprofit (EIN: 161628464). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why do liabilities consistently exceed assets, for example, $13,863,113 in liabilities versus $11,018,614 in assets in 2023?
This is a critical question for the organization's long-term financial health and solvency. It suggests that the fund may have significant future obligations or debts that are not fully covered by its current assets. Further investigation into the nature of these liabilities (e.g., actuarial liabilities for future health benefits) is necessary.
What is the specific breakdown of expenses, particularly between program services (health benefits), administrative costs, and any fundraising efforts?
Without a detailed functional expense breakdown, it's challenging to fully assess spending efficiency. While total expenses are provided, understanding how much goes directly to retiree health benefits versus overhead is crucial for evaluating its effectiveness.
Given the consistent 0% officer compensation, how are the organization's operations and management handled?
This suggests that the organization may be run by volunteers, or that management services are provided by an external entity or another organization, which would be important for transparency to disclose.
Filing History
IRS 990 filing history for W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr's revenue has grown by 34.9%, moving from $751K to $1.0M. Total assets increased by 122.9% over the same period, from $4.9M to $11.0M. Total functional expenses rose by 39.2%, from $452K to $629K. In its most recent filing year (2023), W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr reported a surplus of $384K, with revenue exceeding expenses. The organization holds $13.9M in liabilities against $11.0M in assets (debt-to-asset ratio: 125.8%), resulting in net assets of $-2,844,499.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $629K | $11.0M | $13.9M | — | View 990 |
| 2022 | $828K | $576K | $11.7M | $13.9M | — | View 990 |
| 2021 | $1.1M | $538K | $11.1M | $12.7M | — | View 990 |
| 2020 | $673K | $525K | $7.9M | $12.7M | — | View 990 |
| 2019 | $604K | $485K | $8.4M | $10.9M | — | View 990 |
| 2018 | $934K | $466K | $8.1M | $9.2M | — | View 990 |
| 2017 | $586K | $451K | $7.0M | $9.2M | — | View 990 |
| 2016 | $535K | $1.6M | $6.3M | $9.2M | — | View 990 |
| 2015 | $578K | $370K | $6.5M | $7.9M | — | View 990 |
| 2014 | $6.1M | $366K | $6.0M | $7.9M | — | View 990 |
| 2013 | $555K | $1.8M | $5.4M | $13.5M | — | View 990 |
| 2012 | $751K | $452K | $4.9M | $12.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $629K, and assets of $11.0M (revenue +22.3% year-over-year).
- 2022: Revenue of $828K, expenses of $576K, and assets of $11.7M (revenue -26.6% year-over-year).
- 2021: Revenue of $1.1M, expenses of $538K, and assets of $11.1M (revenue +67.8% year-over-year).
- 2020: Revenue of $673K, expenses of $525K, and assets of $7.9M (revenue +11.5% year-over-year).
- 2019: Revenue of $604K, expenses of $485K, and assets of $8.4M (revenue -35.4% year-over-year).
- 2018: Revenue of $934K, expenses of $466K, and assets of $8.1M (revenue +59.5% year-over-year).
- 2017: Revenue of $586K, expenses of $451K, and assets of $7.0M (revenue +9.6% year-over-year).
- 2016: Revenue of $535K, expenses of $1.6M, and assets of $6.3M (revenue -7.4% year-over-year).
- 2015: Revenue of $578K, expenses of $370K, and assets of $6.5M (revenue -90.5% year-over-year).
- 2014: Revenue of $6.1M, expenses of $366K, and assets of $6.0M (revenue +994.3% year-over-year).
- 2013: Revenue of $555K, expenses of $1.8M, and assets of $5.4M (revenue -26.1% year-over-year).
- 2012: Revenue of $751K, expenses of $452K, and assets of $4.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr:
Data Sources and Methodology
This transparency report for W Palm Beach Assoc Of Firefighters Retiree Health Benefit Fund Tr 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.