PLUMBERS LOCAL UNION NO 1 WELFARE FUND (EIN 111538293) - 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

1949

Legal Domicile

Principal Officer

PAUL O'CONNOR MARIE CAR

Phone

7188352700

Tax Period

2024-01-01 to 2024-12-31

PLUMBERS LOCAL UNION NO 1 WELFARE FUND, founded in 1949, is a mid-sized nonprofit in the Mutual Benefit sector that reported $99.1M in total revenue in fiscal year 2024. Expenses of $90.7M left a modest 8% surplus.

Mission

TO PROVIDE BENEFITS, INCLUDING MEDICAL, SURGICAL, HOSPITALIZATION, DEATH, DISABILITY, DENTAL, PRESCRIPTION AND VISION BENEFITS TO ELIGIBLE MEMBERS OF PLUMBERS UNION LOCAL NO. 1.

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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 $91,515,766

Investment Income $7,531,324

Other Revenue $18,430

TOTAL REVENUE $99,065,520

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,029,527

Fundraising Expenses $0

Other Expenses $1,824,609

TOTAL EXPENSES $90,730,569

Year-over-Year Comparison

	2024	2023	Change
Revenue	$99,065,520	$100,683,903	0.0%
Expenses	$90,730,569	$87,032,839	+0.0%
Net Income	$8,334,951	$13,651,064	-0.4%

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

176

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

$1,393,455

Key Employees

$625,746

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD GARNER	LABOR TRUSTEE	2.00	Director	$0	$127,230	$325,078
RICHARD GILLIGAN	LABOR TRUSTEE	2.00	Director	$0	$128,575	$335,667
FREDDY DELLIGATTI	LABOR TRUSTEE	2.00	Director	$0	$132,725	$347,183
PAUL O'CONNOR	LABOR TRUSTEE	2.00	Director	$0	$141,222	$385,527
EUGENE BOCCIERI	MANAGEMENT TRUSTEE (P)	2.00	Director	$0	$0	$0
LOUIS J BUTTERMARK	MANAGEMENT TRUSTEE (P)	2.00	Director	$0	$0	$0
JEFFREY LEVINE	MANAGEMENT TRUSTEE	2.00	Director	$0	$0	$0
MARIE CARDOZA	MANAGEMENT TRUSTEE	2.00	Director	$0	$0	$0
VINCENT GAMBA	MANAGEMENT TRUSTEE	2.00	Director	$0	$0	$0
BARR RICKMAN	MANAGEMENT TRUSTEE	2.00	Director	$0	$0	$0
WALTER SARACENI	ADMINISTRATOR	25.00	Key Emp	$220,778	$72,904	$293,682
WENDY L SALVATIERRA	ADMINISTRATOR	25.00	Key Emp	$259,160	$72,904	$332,064
GLORIA MATERON	CONTROLLER	25.00	Highest	$213,768	$72,904	$286,672
GARY J MONTEMARANO	LABOR/MANAGEMENT LIASON	25.00	Highest	$183,403	$72,904	$256,307
JENNIFER JACKSON	OPERATIONS MANAGER	25.00	Highest	$117,972	$72,904	$190,876

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	$99,065,520	$90,730,569	$350,603,572	$8,334,951
2023	$100,683,903	$87,032,839	$324,290,015	$13,651,064
2022	$98,604,876	$81,203,305	$288,998,359	$17,401,571
2021	$122,750,570	$79,807,754	$308,993,271	$42,942,816
2020	$91,702,802	$77,089,061	$273,490,730	$14,613,741
2019	$97,582,040	$81,053,408	$245,293,863	$16,528,632
2018	$91,945,868	$77,113,771	$149,384,254	$14,832,097

PLUMBERS LOCAL UNION NO 1 WELFARE FUND