GENERAL BUILDING LABORERS LOCAL 66 WELFARE FUND

EIN: 111627279

MELVILLE, NY

Total Revenue
$18,281,564
Total Expenses
$17,123,370
Total Assets
$41,664,532
Net Assets
$37,433,076
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1950
Legal Domicile
NY
Principal Officer
VINCENT ALU
Phone
6314542330
Tax Period
2024-07-01 to 2025-06-30

GENERAL BUILDING LABORERS LOCAL 66 WELFARE FUND, founded in 1950, is a mid-sized nonprofit that reported $18.3M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $17.1M left a modest 6% surplus.

Mission

TO PROVIDE BENEFITS INCLUDING, BUT NOT LIMITED TO, VACATION, MEDICAL, HOSPITAL, SUPPLEMENTAL UNEMPLOYMENT, PRESCRIPTION DRUGS, DENTAL, OPTICAL, HEARING, MEDICARE SUPPLEMENT, DISABILITY, LIFE INS & ACCIDENTAL DEATH & DISMEMBERMENT BENEFITS TO ELIGIBLE PARTICIPANTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $16,050,926
Investment Income $2,230,638
Other Revenue $0
TOTAL REVENUE $18,281,564

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,596,732
Fundraising Expenses $0
Other Expenses $-17,214
TOTAL EXPENSES $17,123,370

Year-over-Year Comparison

2024 2023 Change
Revenue $18,281,564 $16,366,601 +0.1%
Expenses $17,123,370 $14,245,638 +0.2%
Net Income $1,158,194 $2,120,963 -0.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
11
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$205,671
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLEN MARMOR FUND MANAGER 20.00
Officer
$142,017 $63,654 $205,671
ADAM GLASER COMPLIANCE MANAGER 20.00
Highest
$100,617 $63,654 $164,271
VINCENT ALU UNION TRUSTEE 1.00
Director
$0 $0 $0
MIKE HELLSTROM UNION TRUSTEE 1.00
Director
$0 $0 $0
JOSH SLAUGHTER UNION TRUSTEE - EFF 9/24 1.00
Director
$0 $0 $0
ANTHONY SPEZIALE UNION TRUSTEE 1.00
Director
$0 $0 $0
JOHN O'HARE EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
ANTONIO FERREIRA EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
THOMAS HAYES EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
CRAIG NOLLER EMPLOYER TRUSTEE - EFF 2/25 1.00
Director
$0 $0 $0
JOHN VIRGA EMPLOYER TRUSTEE - THRU 2/25 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $18,281,564 $17,123,370 $41,664,532 $1,158,194
2024 $16,366,601 $14,245,638 $49,459,057 $2,120,963
2023 $15,570,379 $13,333,606 $34,929,679 $2,236,773
2022 $17,072,064 $16,079,820 $31,050,250 $992,244
2021 $15,765,792 $13,803,078 $32,285,646 $1,962,714
2020 $15,838,437 $13,154,820 $27,733,131 $2,683,617
2019 $17,503,504 $14,261,608 $24,368,060 $3,241,896
2018 $17,006,631 $13,982,301 $21,069,733 $3,024,330
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