Laborers Local No 91 Welfare Fund

Nonprofit profile at a glance

EIN
160776158
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Niagara Falls, NY, USA
Phone
7162976001
Rating
38
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,086,695
Expenses
$3,356,103
Assets
$7,513,092
Liabilities
$165,634

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

Leadership & pay

7 people listed

Highest reported compensation

  • RICHARD PALLADINO (TRUSTEE): $278,036 total reported compensation
  • RANDY PALLADINO (TRUSTEE): $247,864 total reported compensation
  • WILLIAM GRACE (ADMINISTRATO): $213,332 total reported compensation

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

Overview

Mission

To provide participants with health and welfare benefits.

What it reported doing in 2024

The fund provided benefits to its participants, including dependent care, health care, scholarship, vacation, supplemental unemployment, medical insurance, life insurance, and educational assistance.

Operating model

Revenue model
Earned-program. 94% 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

REVIEW - The filed numbers largely add up and most filed governance safeguards are in place. 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: 66
  • Accountability: 71
  • Sustainability: 66
  • Growth: 20

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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 17.9%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 2.24; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.9% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $278K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 21/100.