Empire State Carpenters
Legal name: Empire State Carpenters Welfare Fund
Nonprofit profile at a glance
- EIN
- 111582767
- IRS 990 coverage
- 2009–2014
- Official website data refreshed
- Aug 2026
- Forms available
- Form 990 2014
- Location
- Albany, NY, US
- Phone
- (518) 456-7000
- Rating
- 46
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Voluntary Employees Beneficiary Associations (Non-Government)
Reported finances
- Revenue
- $134,602,563
- Expenses
- $102,292,258
- Assets
- $314,716,922
- Liabilities
- $36,925,156
Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.
Leadership & pay
29 people listed
Highest reported compensation
- DAVID B STEWART (FUND DIRECTOR): $286,978 total reported compensation
- KATHleen MORIN (PENS/ANN ADMIN): $188,682 total reported compensation
- ORHAN COSKUNER (IT DIRECTOR): $165,390 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose of the plan is to provide health and other benefits to eligible participants.
The Empire State Carpenters Welfare Fund provides health and welfare benefits to eligible carpenters and their families across New York State. It is a Taft-Hartley trust fund jointly administered by union and employer trustees. The fund covers medical, prescription drug, dental, vision, and other benefits for members of the Empire State Regional Council of Carpenters.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 64
- Accountability: 95
- Sustainability: 86
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 67th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 84th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Limited
- 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: 24%; rating input score 92; 92nd percentile among comparable filings
- Total-asset coverage ratio: 3.08; rating input score 82; 82nd percentile among comparable filings
- Liabilities to assets ratio: 0.12; rating input score 87; 87th percentile among comparable filings
- Officer compensation ratio: 1.1%; rating input score 74; 74th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 11.8% per year; rating input score 100; 81st percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 19 of 19 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $287K · 29 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $3.5M reported
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 6 filing years from 2009 to 2014
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 4 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.