PLUMBERS & PIPEFITTERS LOCAL 693 HEALTH & WELFARE FUND (EIN 036012626) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1966

Legal Domicile

Principal Officer

GREGORY A GOVE

Phone

8028644042

Tax Period

2024-07-01 to 2025-06-30

PLUMBERS & PIPEFITTERS LOCAL 693 HEALTH & WELFARE FUND, founded in 1966, is a small nonprofit that reported $227K in total revenue in fiscal year 2024. Revenue surged 38% from the prior year, signaling strong growth momentum. Expenses of $266K exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS OF THE UNITED ASSOCIATION OF PLUMBERS AND PIPEFITTERS LOCAL 693.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $226,334

Investment Income $173

Other Revenue $507

TOTAL REVENUE $227,014

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $113,126

TOTAL EXPENSES $266,310

Year-over-Year Comparison

	2024	2023	Change
Revenue	$227,014	$164,799	+0.4%
Expenses	$266,310	$86,362	+2.1%
Net Income	$-39,296	$78,437	-1.5%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

$194,109

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG GOVE	TRUSTEE	0.20	Director	$0	$74,458	$194,109
LIAM O'FARRELL	TRUSTEE	0.20	Director	$0	$0	$0
ALEX POTVIN	TRUSTEE	0.20	Director	$0	$0	$0
KELLEY BOWNELL	TRUSTEE	0.20	Director	$0	$0	$0
COLE MUGFORD	TRUSTEE	0.20	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	$227,014	$266,310	$463,051	$-39,296
2024	$164,799	$86,362	$514,374	$78,437
2023	$213,347	$77,837	$660,794	$135,510
2022	$485,774	$71,154	$538,508	$414,620
2021	$196,421	$102,345	$175,789	$94,076
2020	$241,814	$586,649	$379,833	$-344,835
2019	$2,245,240	$2,816,614	$564,294	$-571,374
2018	$2,350,895	$2,748,047	$656,078	$-397,152

PLUMBERS & PIPEFITTERS LOCAL 693 HEALTH & WELFARE FUND