INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 138 WELFARE FUND (EIN 111628170) - 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

1952

Legal Domicile

Phone

6315925725

Tax Period

2024-07-01 to 2025-06-30

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 138 WELFARE FUND, founded in 1952, is a mid-sized nonprofit that reported $56.8M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion.

Mission

THE PRIMARY PURPOSE OF THE PLAN IS TO PROVIDE MEDICAL, DEATH, OPTICAL, DENTAL, VACATION AND UNEMPLOYMENT 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $55,166,822

Investment Income $1,196,996

Other Revenue $429,571

TOTAL REVENUE $56,793,389

Expense Breakdown

Grants Paid $0

Salaries & Benefits $708,228

Fundraising Expenses $0

Other Expenses $1,161,374

TOTAL EXPENSES $55,637,064

Year-over-Year Comparison

	2024	2023	Change
Revenue	$56,793,389	$48,197,481	+0.2%
Expenses	$55,637,064	$47,403,814	+0.2%
Net Income	$1,156,325	$793,667	+0.5%

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

$1,247,758

Total Directors

$2,839,754

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN DUFFY	TRUSTEE	2.00	Officer Director	$0	$79,044	$447,085
JOHN J DUFFY	TRUSTEE	2.00	Director	$0	$94,344	$414,359
DENNIS ADRIAN	TRUSTEE	2.00	Director	$0	$94,469	$403,638
WILLIAM DUFFY JR	CHAIRMAN/ADMINISTRATOR	2.00	Officer Director	$0	$95,544	$413,134
JAMES PRATT III	TRUSTEE	2.00	Director	$0	$0	$0
JAMES HANEY III	TRUSTEE	2.00	Director	$0	$0	$0
MARC HERBST	TRUSTEE	2.00	Director	$0	$0	$0
ANTHONY MALIZIA	TRUSTEE	2.00	Director	$0	$94,344	$416,856
VINCENT D RAZZANO	APPRENTICE DIRECTOR	2.00	Director	$0	$75,634	$327,870
SHAWN COLES	TRUSTEE	0.00	Director	$0	$94,344	$416,812
STEPHEN BARNETT	PLAN ADMINISTRATOR	18.00	Officer	$0	$79,068	$387,539
CHRISTOPHER DUFFY	ANNUITY ADMIN	0.00	Highest	$0	$63,676	$370,887
SCOTT TIERNEY	INSTRUCTOR	0.00	Highest	$0	$75,940	$271,904
LISA HARDEN	CLAIMS ADMIN	40.00	Highest	$111,493	$38,080	$149,573
ANNE MCDONNAUGH	BOOKKEEPER	38.00	Highest	$107,550	$34,653	$142,203
ENRIQUE GUZMAN	ORGANIZER	0.00	Highest	$0	$79,308	$293,691

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	$56,793,389	$55,637,064	$39,227,867	$1,156,325
2024	$48,197,481	$47,403,814	$33,102,444	$793,667
2023	$47,212,862	$45,895,898	$31,324,545	$1,316,964
2022	$42,543,843	$38,331,299	$28,205,674	$4,212,544
2021	$41,815,205	$39,053,671	$24,642,232	$2,761,534
2020	$38,943,695	$34,203,298	$21,531,939	$4,740,397
2019	$37,405,092	$34,857,126	$15,572,956	$2,547,966
2018	$29,147,704	$27,081,332	$11,038,607	$2,066,372

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 138 WELFARE FUND