Local 6559 Health Benefit Fund

Nonprofit profile at a glance

EIN
131985696
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Port Washington, NY, USA
Phone
5168836749
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$1,769,649
Expenses
$719,045
Assets
$19,653,881
Liabilities
$176,600

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

Leadership & pay

2 people listed

Highest reported compensation

  • NINA BELLINI (OFFICER/TRUSTEE): $353,771 total reported compensation
  • ANDREW BELLINI (OFFICER/TRUSTEE): $214,204 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 fund provides hospital, surgical, drug, medical and optical benefits for eligible employees (and their dependents) of contributing employers.

What it reported doing in 2024

The fund provides hospital, surgical, drug, medical and optical benefits to eligible members and their eligible dependents, based on contributions recieved from their employers.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for member benefits.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 60
  • Accountability: 55
  • Sustainability: 83
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.6%; rating input score 12
  • Program expense ratio: 37.6%; rating input score 38
  • 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: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 59.4%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 27.33; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 24%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: -14.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 11.6% of revenue deployed · 37.6% of spending went to programs
  • Governance: 1 of 2 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $271K in reported program spending
  • Leadership: top reported pay $354K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 12/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.