Excavators Union 731 Welfare

Nonprofit profile at a glance

EIN
131615440
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Astoria, NY, USA
Phone
7183919099
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$365,130,478
Expenses
$228,448,833
Assets
$1,112,965,398
Liabilities
$7,495,267

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

Leadership & pay

12 people listed

Highest reported compensation

  • CARMINE D'AMATO (UNION TRUSTE): $611,134 total reported compensation
  • DOMINIC VALDNER (UNION TRUSTE): $603,408 total reported compensation
  • MARK KEY (FUND ADM): $371,459 total reported compensation

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

Overview

Mission

Collectively bargained multi-employer welfare fund created to provide health & welfare benefits to participants and their dependents

What it reported doing in 2024

To provide health & welfare benefits to participants and their dependents

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 98% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 60
  • Accountability: 79
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.8%; rating input score 51
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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; 77th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 37.4%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 4.87; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 13.8% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 50.8% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $228.4M in reported program spending
  • Leadership: top reported pay $611K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.4M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 7 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 51/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.