INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 HEALTH & WELFARE FUND

EIN: 042123707

SOUTHWICK, MA

Total Revenue
$16,913,598
Total Expenses
$15,285,886
Total Assets
$21,914,140
Net Assets
$21,589,493
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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
2024-01-01 to 2024-12-31

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 98 HEALTH & WELFARE FUND, founded in 1959, is a mid-sized nonprofit that reported $16.9M in total revenue in fiscal year 2024. Expenses of $15.3M left a modest 10% surplus.

Mission

TO PROVIDE HEALTH CARE AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR 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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $16,371,873
Investment Income $541,725
Other Revenue $0
TOTAL REVENUE $16,913,598

Expense Breakdown

Grants Paid $0
Salaries & Benefits $682,318
Fundraising Expenses $0
Other Expenses $-11,847
TOTAL EXPENSES $15,285,886

Year-over-Year Comparison

2024 2023 Change
Revenue $16,913,598 $16,668,641 +0.0%
Expenses $15,285,886 $14,912,457 +0.0%
Net Income $1,627,712 $1,756,184 -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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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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
$204,703
Total Directors
7
$730,824
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM D FAY UNION TRUSTEE/CHAIRMAN - THRU 9/24 1.00
Director
$0 $79,443 $204,662
DAVID KAZIMIERCZAK UNION TRUSTEE 1.00
Director
$0 $79,443 $184,598
DARRIN AUGER UNION TRUSTEE 1.00
Director
$0 $79,443 $184,964
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
DANIEL PRATS UNION TRUSTEE - EFF 9/24 1.00
Director
$0 $67,449 $156,600
KARA RICHOTTE FUND ADMINISTRATOR 13.00
Officer
$124,958 $79,745 $204,703
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
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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