PLUMBERS UNION LOCAL 12 WELFARE PLAN HEALTH AND WELFARE FUND (EIN 042157164) - 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

1951

Legal Domicile

Principal Officer

MATTHEW COLETTI

Phone

6172885400

Tax Period

2023-09-01 to 2024-08-31

PLUMBERS UNION LOCAL 12 WELFARE PLAN HEALTH AND WELFARE FUND, founded in 1951, is a mid-sized nonprofit that reported $38.6M in total revenue in fiscal year 2023.

Mission

TO PROVIDE MEDICAL BENEFITS

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $37,351,016

Investment Income $1,237,504

Other Revenue $0

TOTAL REVENUE $38,588,520

Expense Breakdown

Grants Paid $0

Salaries & Benefits $250,089

Fundraising Expenses $0

Other Expenses $601,009

TOTAL EXPENSES $38,671,532

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,588,520	$38,781,404	0.0%
Expenses	$38,671,532	$34,365,028	+0.1%
Net Income	$-83,012	$4,416,376	-1.0%

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

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

$239,110

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW COLETTI	ADMINISTRATOR	40.00	Director	$51,060	$68,910	$239,110
JAMES F VAUGHAN	TRUSTEE	10.00	Director	$0	$0	$0
ANDREW DEANGELO	TRUSTEE	10.00	Director	$0	$0	$0
PAUL J DIONNE	TRUSTEE	10.00	Director	$0	$0	$0
TIMOTHY FANDEL	TRUSTEE	10.00	Director	$0	$0	$0
JOSEPH CANNISTRARO	TRUSTEE	10.00	Director	$0	$0	$0
BARRY KEADY	TRUSTEE	10.00	Director	$0	$0	$0
KEVIN WALSH	TRUSTEE	10.00	Director	$0	$0	$0
PATRICK MULKERRIN	TRUSTEE	10.00	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
2024	$38,588,520	$38,671,532	$35,755,487	$-83,012
2023	$38,781,404	$34,365,028	$32,821,531	$4,416,376
2022	$36,203,523	$33,770,763	$27,992,767	$2,432,760
2021	$34,324,093	$30,431,476	$27,729,127	$3,892,617
2020	$27,359,107	$29,025,502	$23,463,050	$-1,666,395
2019	$33,951,532	$27,138,043	$24,924,289	$6,813,489
2018	$29,056,349	$23,998,003	$18,089,294	$5,058,346

PLUMBERS UNION LOCAL 12 WELFARE PLAN HEALTH AND WELFARE FUND