Central New York Laborers' Health and Welfare Fund

Nonprofit profile at a glance

EIN
166044095
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
E Syracuse, NY, USA
Phone
3154349305
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$5,417,057
Expenses
$3,337,416
Assets
$13,568,124
Liabilities
$147,527

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • GABRIEL ROSETTI III (BUSINESS MANAGER): $124,791 total reported compensation
  • JOSEPH SOLAZZO III (RECORDING SECRETARY): $21,320 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide medical, dental, disability and death benefits to union members and their dependents.

What it reported doing in 2024

The fund provides medical, dental, disability and death benefits for union members and their dependents.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 81% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 72
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.6%; rating input score 54
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.4%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 4.07; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -2.8% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 53.6% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $125K · 5 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.