Hrsa-ila Welfare Fund

Nonprofit profile at a glance

EIN
540489826
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7574577090
Rating confidence
Limited
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$285
Expenses
$3,303,542
Assets
$691,966
Liabilities
$195,028

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

Leadership & pay

13 people listed

Highest reported compensation

  • STEVE GREENE (ADMINISTRATOR): $239,607 total reported compensation

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

Overview

Mission

See schedule o: the fund is and shall constitute an irrevocable trust pursuant to section 302(c) of the labor management relations act of 1947 to provide certain life, supplemental medical, accident and other benefits, on an insured or self-insured basis, to certain employees of the longshore industry. Fund benefits may (as determined by the board of trustees from time to time) include vacation benefits, recreational benefits, child care facilities, job readjustment allowances, income maintenance payments, disaster assistance, supplemental unemployment compensation benefits as defined in irc section 501(c)(17)(d)(i), education or training benefits, and any other benefit permitted under section 501(c)(9). The fund shall not provide health care or other benefits which are provided by the mila managed health care trust fund, or any successor thereto.

What it reported doing in 2024

Provided health and welfare benefits to eligible employees, retirees, and their families.

Operating model

Revenue model
Investment-supported. 92% of the money available for current operations came from recurring investment income.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1,159,037.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -16% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 39th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $240K · 13 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.