Local 514 Health and Welfare Fund
Nonprofit profile at a glance
- EIN
- 467325928
- IRS 990 coverage
- 2022–2022
- Forms available
- Form 990 2022, Form 990-N 2016
- Location
- White Plains, NY, USA
- Phone
- 9147153449
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Employee Funded Pension Trusts
Reported finances
- Revenue
- $1,773,323
- Expenses
- $1,642,414
- Assets
- $491,737
- Liabilities
- $177,740
Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
2 people listed
Highest reported compensation
- JOSH GOTTLIEB (TRUSTEE): $26,754 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide health coverage
What it reported doing in 2022
Health coverage
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Member-benefit provider. The nonprofit used 93% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 90
- Accountability: 12
- Sustainability: 40
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.5%; rating input score 92
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- 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; 4th percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 29
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 7.4%; rating input score 56; 56th percentile among comparable filings
- Total-asset coverage ratio: 0.3; rating input score 12; 12th percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 22; 22nd percentile among comparable filings
- Officer compensation ratio: 1.6%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 92.5% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 2 board members independent · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $27K · 2 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Sustainability: Total-asset coverage ratio scored 12/100.
- Review — Sustainability: Operating margin scored 56/100.
- High — Sustainability: Liabilities to assets ratio scored 22/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.