Local 522 Welfare Fund of New York & New Jersey
501(c)(9)
Only null% goes to programs Thin reserves
Local 522 Welfare Fund of New York & New Jersey is a 501(c)(9) organization based in Brooklyn, New York, registered in 1965, with $25,467,794 in FY2024 revenue. CharityIndex grades it C.
2137 Utica Ave, Brooklyn, NY, 11234 EIN 22-6062063 Since 1965
Revenue (FY2024)
$25.5M
▼ 11.9% vs prior year
Expenses (FY2024)
$29.1M
Net assets
$1.5M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Local 522 Welfare Fund of New York & New Jersey— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
C+Financial health25% of the rating1 mo reserves · -14% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Local 522 Welfare Fund of New York & New Jersey: 1 mo reserves · -14% margin earns a C+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Local 522 Welfare Fund of New York & New Jersey— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
DTransparency10% of the rating1 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Local 522 Welfare Fund of New York & New Jersey: 1 of 5 disclosure signals earns a D on this criterion. See the exact thresholds →
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Contact & location
Financial trends
Revenue grew from $11.8M (FY2015) to $25.5M (FY2024) across 10 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $4.6MNet assets $1.5M
Operating margin
-14.3%
Spent more than it raised in the latest fiscal year.
Total assets
$6.1M
Total liabilities
$4.6M
Net assets
$1.5M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $25,467,794▼11.9% | $29,108,183▼5.6% | $1,491,960▼75.9% | $6,107,164▼45.5% | 990 |
| 2023 | $28,895,038▼2.6% | $30,833,394▼6.5% | $6,195,784▼22.4% | $11,196,784▼13.4% | 990 |
| 2022 | $29,661,994▲13.2% | $32,981,642▲7.7% | $7,987,785▼36.8% | $12,924,279▼25.8% | 990 |
| 2021 | $26,199,989▲2.7% | $30,613,148▲8.3% | $12,639,573▼32.6% | $17,424,618▼23.4% | 990 |
| 2020 | $25,503,448▲14.2% | $28,254,043▲5.0% | $18,766,644▲3.5% | $22,734,364▲0.8% | 990 |
| 2019 | $22,337,983▲14.3% | $26,921,041▲42.4% | $18,135,583▼18.7% | $22,550,744▼8.8% | 990 |
| 2018 | $19,541,277▲10.8% | $18,899,240▼5.2% | $22,318,145▲6.1% | $24,739,604▲5.4% | 990 |
| 2017 | $17,638,429▲20.7% | $19,931,564▲24.3% | $21,044,708▼5.2% | $23,467,016▼4.8% | 990 |
| 2016 | $14,615,280▲24.1% | $16,029,301▲22.5% | $22,193,460▼2.8% | $24,647,708▼1.9% | 990 |
| 2015 | $11,778,681 | $13,082,724 | $22,825,231 | $25,122,500 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Frequently asked questions
- Is Local 522 Welfare Fund of New York & New Jersey a legitimate nonprofit?
- Yes. Local 522 Welfare Fund of New York & New Jersey is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 22-6062063, based in Brooklyn, New York.
- What is Local 522 Welfare Fund of New York & New Jersey's EIN?
- Local 522 Welfare Fund of New York & New Jersey's Employer Identification Number (EIN) is 22-6062063.
- How much revenue does Local 522 Welfare Fund of New York & New Jersey report?
- Local 522 Welfare Fund of New York & New Jersey reported $25,467,794 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Local 522 Welfare Fund of New York & New Jersey have?
- CharityIndex grades Local 522 Welfare Fund of New York & New Jersey C, based on financial health (reserves and operating margin).
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Data for Local 522 Welfare Fund of New York & New Jersey (EIN 22-6062063) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.