Local 351 Ibew Health and Welfare Fund Co Ie Shaffer & Co

Nonprofit profile at a glance

EIN
223235800
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
West Trenton, NJ, USA
Phone
6097181323
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$48,885,321
Expenses
$50,644,322
Assets
$21,779,937
Liabilities
$12,133,261

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • DANIEL COSNER (Trustee): $475,380 total reported compensation
  • STEVEN DIMATTEO (Trustee): $338,865 total reported compensation
  • RYCK SIGNOR (Trustee): $337,823 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide group health benefits for eligible participants

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.6%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0.9%; rating input score 87; 87th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 11th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $49.6M in reported program spending
  • Leadership: top reported pay $475K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $2.7M reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.