Nyspia Health and Welfare Fund
Nonprofit profile at a glance
- EIN
- 861830285
- IRS 990 coverage
- 2021–2024
- Forms available
- Form 990 2024
- Location
- Albany, NY, USA
- Phone
- 5184360120
- Rating confidence
- Limited
- Sector
- Voluntary Employees Beneficiary Associations (Government)
Reported finances
- Revenue
- $887,179
- Expenses
- $23,232
- Assets
- $5,833,576
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Highest reported compensation
- TIMOTHY DYMOND (TRUSTEE): $20,000 total reported compensation
- ROBERT LOMBARDI (TRUSTEE): $5,000 total reported compensation
- WILLIAM DIAZ (TRUSTEE): $4,423 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 trust fund is created, established and maintained, and the trustees agree to receive funds from the state of New York and to hold it and administer it by way of self-administration for the purpose of providing and maintaining certain welfare benefits for participants and members and defraying the reasonable expenses of administration of the plan in accordance with the provisions set forth herein and in the plan, and to devise and implement such procedures and programs as may be necessary or favorable from time to time to fulfill the foregoing objectives.
What it reported doing in 2024
The trustees have adopted the medical expense reimbursement plan (the plan) to provide for the reimbursement of medical expenses of retired employees. The plan is intended to qualify as a health reimbursement arrangement as defined by IRS notice 2002-45. The organization is funded by employer contributions required under prior and future collective bargaining agreements. The plan will be administered by the trustees with assistance from union staff.
Operating model
- Revenue model
- Earned-program. 69% 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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 6
- Sustainability: 87
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- 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; 5th percentile among comparable filings
- Governance controls: 1 of 9 controls in place; rating input score 14
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 97.4%; rating input score 100; 100th percentile among comparable filings
- Total-asset coverage ratio: 251.1; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: -60.1% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: 14.7% per year; rating input score 100; 72nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 3 board members independent · 1 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $20K · 3 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- Related organizations: 3 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 — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Growth: Revenue growth scored 0/100.