Plumbers and Pipefitters Local Union 51 Health and Welfare Fund (EIN 050498023) - 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

1997

Legal Domicile

Phone

4019433033

Tax Period

2022-05-01 to 2023-04-30

Plumbers and Pipefitters Local Union 51 Health and Welfare Fund, founded in 1997, is a mid-sized nonprofit that reported $12.2M in total revenue in fiscal year 2022. Revenue decreased 6% compared to the prior year.

Mission

The Plan provides medical insurance,as well as life, vision, and dental benefits to active members and retirees who have met all eligibility requirements.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $11,918,969

Investment Income $266,989

Other Revenue $0

TOTAL REVENUE $12,185,958

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $604,313

TOTAL EXPENSES $13,332,679

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,185,958	$12,924,506	-0.1%
Expenses	$13,332,679	$12,892,633	+0.0%
Net Income	$-1,146,721	$31,873	-37.0%

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

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

$261,150

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul Alvarez	Co-Chairman	1.00	Director	$0	$0	$138,636
Ben Bryand	Trustee	1.00	Director	$0	$0	$122,514
Michael Cordeiro	Trustee	1.00	Director	$0	$0	$0
Darrel Price	Trustee	1.00	Director	$0	$0	$0
Frank Carnevale	Co-Chairman	1.00	Director	$0	$0	$0
Kenneth Demers	Trustee	1.00	Director	$0	$0	$0
Jonathan Richards	Trustee	1.00	Director	$0	$0	$0
Douglas Bolton	Trustee	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
2023	$12,185,958	$13,332,679	$16,115,500	$-1,146,721
2022	$12,924,506	$12,892,633	$17,597,321	$31,873
2021	$12,548,834	$12,430,662	$19,556,883	$118,172
2020	$12,936,760	$12,664,976	$18,264,006	$271,784
2019	$13,405,960	$12,299,607	$17,992,222	$1,106,353

Plumbers and Pipefitters Local Union 51 Health and Welfare Fund