INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 HEALTH & WELFARE FUND

EIN: 042123707

SOUTHWICK, MA

Total Revenue
$17,375,828
Total Expenses
$15,856,200
Total Assets
$24,515,456
Net Assets
$23,982,351
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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
1959
Legal Domicile
MA
Principal Officer
KARA A RICHOTTE
Phone
4139983230
Tax Period
2025-01-01 to 2025-12-31

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 HEALTH & WELFARE FUND, founded in 1959, is a mid-sized nonprofit that reported $17.4M in total revenue in fiscal year 2025. Expenses of $15.9M left a modest 9% surplus.

Mission

TO PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS ANDTHEIR DEPENDENTS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $16,637,216
Investment Income $738,612
Other Revenue $0
TOTAL REVENUE $17,375,828

Expense Breakdown

Grants Paid $0
Salaries & Benefits $724,770
Fundraising Expenses $0
Other Expenses $-42,829
TOTAL EXPENSES $15,856,200

Year-over-Year Comparison

2025 2024 Change
Revenue $17,375,828 $16,913,598 +0.0%
Expenses $15,856,200 $15,285,886 +0.0%
Net Income $1,519,628 $1,627,712 -0.1%
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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Governance

Voting Members
6
Independent Members
3
Employees
5
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
$225,846
Total Directors
6
$571,261
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID KAZIMIERCZAK UNION TRUSTEE 1.00
Director
$0 $79,703 $194,247
DARRIN AUGER UNION TRUSTEE 1.00
Director
$0 $79,703 $188,517
DANIEL PRATS UNION TRUSTEE 1.00
Director
$0 $79,703 $188,497
CHRISTOPHER GAGLIARDUCCI EMPLOYER TRUSTEE/SECRETARY 1.00
Director
$0 $0 $0
JENNA RAHKONEN EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
JONATHAN PECOY EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
KARA RICHOTTE FUND ADMINISTRATOR 13.00
Officer
$144,703 $81,143 $225,846
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 $17,375,828 $15,856,200 $24,515,456 $1,519,628
2024 $16,913,598 $15,285,886 $21,914,140 $1,627,712
2023 $16,668,641 $14,912,457 $20,103,623 $1,756,184
2022 $16,334,126 $14,822,597 $17,700,661 $1,511,529
2021 $14,859,404 $14,393,535 $17,444,456 $465,869
2020 $14,593,811 $13,747,199 $17,105,752 $846,612
2019 $13,913,790 $13,677,945 $16,292,677 $235,845
2018 $13,499,208 $13,201,084 $15,354,688 $298,124
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