Welfare Fund Heat And Frost Insulators Local 12

Welfare Fund Heat And Frost Insulators Local 12 maintains strong assets despite recent operating deficits.

EIN: 116302784 · Long Is City, NY · Updated: 2026-03-28

$38.4MRevenue

$31.5MAssets

75/100Mission Score (Good)

About Welfare Fund Heat And Frost Insulators Local 12

Welfare Fund Heat And Frost Insulators Local 12 (EIN: 116302784) is a nonprofit organization based in Long Is City, NY. The organization reported total revenue of $38.4M and total assets of $31.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Welfare Fund Heat And Frost Insulators Local 12's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Welfare Fund Heat And Frost Insulators Local 12 demonstrates consistent financial activity, with revenues and expenses generally in the range of $15 million to $19 million over the past decade. The organization's assets have shown steady growth, increasing from $14 million in 2014 to over $30 million in recent years, indicating a healthy accumulation of resources. However, the most recent two periods (2022 and 2023) show expenses exceeding revenue, with a deficit of $1.6 million in 2023 and $1.3 million in 2022. This trend warrants monitoring to ensure long-term financial stability, although the substantial asset base provides a buffer.

Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess. However, the consistent operational scale suggests established processes. The absence of reported officer compensation across all filings is a notable point for transparency, indicating either a volunteer leadership structure or compensation being reported under other categories, which would require further investigation for complete clarity.

Overall, the organization appears financially stable with a strong asset base, but recent operating deficits suggest a need to review revenue generation or expense management. The lack of officer compensation is a positive indicator for resource allocation, assuming all relevant compensation is indeed zero or reported elsewhere transparently.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Welfare Fund Heat And Frost Insulators Local 12 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: 85%
fundraising: 5%

According to IRS 990 filings, Welfare Fund Heat And Frost Insulators Local 12 allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer leadership or that executive compensation is categorized differently, which would require further detail to fully understand.

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 Welfare Fund Heat And Frost Insulators Local 12's IRS 990 filings:

Expenses exceeded revenue in the last two reporting periods (2022 and 2023), indicating operating deficits.
NTEE code is unknown, making it difficult to benchmark against similar organizations.
Lack of detailed program spending breakdown in the provided data limits full efficiency assessment.

Strengths

The following positive indicators were identified for Welfare Fund Heat And Frost Insulators Local 12:

Strong and growing asset base, increasing from $14 million in 2014 to over $30 million recently.
Consistent revenue generation over the past decade, generally in the $15-19 million range.
Reported 0% officer compensation across all filings, suggesting efficient use of funds at the leadership level.

Frequently Asked Questions about Welfare Fund Heat And Frost Insulators Local 12

Why have expenses exceeded revenue in the last two fiscal periods (2022 and 2023)?

In 2023, expenses were $16,705,322 against revenues of $15,086,101, and in 2022, expenses were $17,783,811 against revenues of $16,467,207. This trend of operating at a deficit warrants further investigation into the causes and the organization's strategy to address it.

How does the organization manage its liabilities, which have consistently been around $5-6 million?

Liabilities have ranged from $4.8 million to $6.2 million over the past decade. While assets have grown significantly, maintaining a stable level of liabilities suggests consistent financial obligations that the organization appears to be managing within its operational framework.

What is the nature of the 'Welfare Fund' and its primary programs?

The NTEE code is unknown, and the filings do not provide specific program details. Understanding the core welfare services provided would be crucial for a complete assessment of its impact and program efficiency.

Filing History

IRS 990 filing history for Welfare Fund Heat And Frost Insulators Local 12 showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Welfare Fund Heat And Frost Insulators Local 12's revenue has grown by 52.2%, moving from $9.9M to $15.1M. Total assets increased by 125.8% over the same period, from $13.3M to $30.0M. Total functional expenses rose by 74.8%, from $9.6M to $16.7M. In its most recent filing year (2023), Welfare Fund Heat And Frost Insulators Local 12 reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $5.2M in liabilities against $30.0M in assets (debt-to-asset ratio: 17.3%), resulting in net assets of $24.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$15.1M	$16.7M	$30.0M	$5.2M	—	—
2022	$16.5M	$17.8M	$30.5M	$5.8M	—	View 990
2021	$18.4M	$16.5M	$34.8M	$6.1M	—	View 990
2020	$15.9M	$14.3M	$30.9M	$6.0M	—	View 990
2019	$18.0M	$16.4M	$28.3M	$6.3M	—	View 990
2018	$19.4M	$14.1M	$24.8M	$5.9M	—	View 990
2017	$18.1M	$13.6M	$20.1M	$5.6M	—	View 990
2016	$16.9M	$13.9M	$15.0M	$5.4M	—	View 990
2015	$15.2M	$17.0M	$12.8M	$6.0M	—	View 990
2014	$14.6M	$15.3M	$14.1M	$4.9M	—	View 990
2013	$13.2M	$13.8M	$13.3M	$3.3M	—	View 990
2012	$11.8M	$12.2M	$13.4M	$3.2M	—	View 990
2011	$9.9M	$9.6M	$13.3M	$2.9M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $15.1M, expenses of $16.7M, and assets of $30.0M (revenue -8.4% year-over-year).
2022: Revenue of $16.5M, expenses of $17.8M, and assets of $30.5M (revenue -10.3% year-over-year).
2021: Revenue of $18.4M, expenses of $16.5M, and assets of $34.8M (revenue +15.8% year-over-year).
2020: Revenue of $15.9M, expenses of $14.3M, and assets of $30.9M (revenue -12.1% year-over-year).
2019: Revenue of $18.0M, expenses of $16.4M, and assets of $28.3M (revenue -6.8% year-over-year).
2018: Revenue of $19.4M, expenses of $14.1M, and assets of $24.8M (revenue +6.7% year-over-year).
2017: Revenue of $18.1M, expenses of $13.6M, and assets of $20.1M (revenue +7.0% year-over-year).
2016: Revenue of $16.9M, expenses of $13.9M, and assets of $15.0M (revenue +11.7% year-over-year).
2015: Revenue of $15.2M, expenses of $17.0M, and assets of $12.8M (revenue +4.1% year-over-year).
2014: Revenue of $14.6M, expenses of $15.3M, and assets of $14.1M (revenue +10.3% year-over-year).
2013: Revenue of $13.2M, expenses of $13.8M, and assets of $13.3M (revenue +11.8% year-over-year).
2012: Revenue of $11.8M, expenses of $12.2M, and assets of $13.4M (revenue +19.3% year-over-year).
2011: Revenue of $9.9M, expenses of $9.6M, and assets of $13.3M.

Data Sources and Methodology

This transparency report for Welfare Fund Heat And Frost Insulators Local 12 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.