Ibew Disaster Fund Nyc Inc

Nonprofit profile at a glance

EIN
113628966
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2011
Location
Flushing, NY, USA
Phone
7185914000
Rating
24
Verdict
REVIEW
Rating confidence
Moderate
Sector
Named Trusts N.E.C.

Reported finances

Revenue
$755
Expenses
$21
Assets
$12,714
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • THOMAS J CLEARY (PRESIDENT)
  • LOUIS ALVAREZ (VICE PRESIDENT)

Highest reported compensation

  • JOSEPH PROSCIA (DIRECTOR): $321,007 total reported compensation
  • THOMAS J CLEARY (PRESIDENT): $320,233 total reported compensation
  • RICHARD MCSPEDON JR (DIRECTOR): $306,418 total reported compensation

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

Overview

Mission

The corporation provides financial assistance to members of the international brotherhood of electrical workers and their families, who have suffered losses through death while employed in their work, as well as for other losses as determined by the corporation's board of directors. Such financial assistance is intended to be provided for various expenses deemed necessary as a result of the loss.

What it reported doing in 2024

The corporation provides financial assistance to members of the international brotherhood of electrical workers and their families that suffered losses through death while employed in their work, and other losses as determined by the corporation's board of directors.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 60
  • Accountability: 9
  • Sustainability: 84
  • Growth: 0

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; 63rd 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 97.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 605.43; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 2,092,819%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -41.6% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -42.3% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -16.9% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 9 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $321K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.