Local 272 Welfare Fund

Not tax-deductible

New York, NYMutual-benefit / member-servingSince 1951Mutual / membership EIN 13-5555808Revenue $38.2M in FY2024

On file with the IRS220 E 23rd St Ste 805, 10010-4653 · New York, NYTax-exempt since Feb 1951

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To provide health and related benefits to eligible union members and their dependents.

$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $6.9M a year · 20% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.5M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $34.2M in investments, Pt X · Ln 11–13
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.8M
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 6 voting members
Fine: 3 of 6 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$38.2M
+7% vs prior year
Spent
$32.6M
Net assets
$44.5M
By yearFY2020–FY2024
Revenue
$38.2M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$31.2M
FY2021$31.8M
FY2022$34.8M
FY2023$35.9M
FY2024$38.2M
Expenses
$32.6M
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$27.6M
FY2021$26.0M
FY2022$21.9M
FY2023$29.1M
FY2024$32.6M
Net assets
$44.5M
FY2024▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.3M
FY2021$18.4M
FY2022$29.1M
FY2023$36.9M
FY2024$44.5M

From the FY2024 Form 990 (year ending November 2024) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1951.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $1.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Fund Manager
$407,430Pt VII · Sec A
Fund Manager
$407,430Pt VII · Sec A
Assist. Fund Manager
$212,718Pt VII · Sec A
Assist. Fund Manager
$212,718Pt VII · Sec A
Claim Examiner
$135,580Pt VII · Sec A
Claim Examiner
$135,580Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Marc a Goodman$407,430$387,610$382,865$367,025$341,450
Maria Banchs$212,718$202,220$197,143$186,746$186,246
Carolyn Echols$135,580$128,807$123,661$115,456$114,216

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides health and related benefits to eligible union members and their families.

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Provided by the organization

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2 programs · in their own filed words · FY2023
01

To provide health and related benefits to eligible union members and their dependents.

Pt IX · col B
02

To provide health and related benefits to eligible union members and their dependents.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$38.2M
Ln 12
Fees for servicesLn 2g$36.6M
Investment incomeLn 3$1.6M
Money outPt IX
$32.6M
Ln 25
Owns and owesPt X
$44.5M
net assets · Ln 32
Cash and savingsLn 1–2$10.8M
Total assetsLn 16$50.3M
LiabilitiesLn 26$5.8M
PeoplePt VI, VII
18
listed · VII A
PaidVII A6
Voting boardVI 1a6
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$36.6M
Investment incomeLn 3$1.6M
Total revenueLn 12$38.2M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$10.8M
Total assetsLn 16$50.3M
LiabilitiesLn 26$5.8M
Net assetsLn 32$44.5M
OperationsPt I, VI
EmployeesI 512
VolunteersI 60
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $38.2M$32.6M$5.6M$44.5M 990 PDF
FY2023 $35.9M$29.1M$6.8M$36.9M 990 PDF
FY2022 $34.8M$21.9M$12.9M$29.1M 990 PDF
FY2021 $31.8M$26.0M$5.8M$18.4M 990 PDF
FY2020 $31.2M$27.6M$3.5M$12.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2024 990 (1 part)
Part VI · Governance 3 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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