WELFARE FUND OF HEAT AND FROST INSULATORS LOCAL 12 (EIN 116302784) - 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

1950

Legal Domicile

Principal Officer

JOHN SARDO

Phone

7187848883

Tax Period

2024-01-01 to 2024-12-31

WELFARE FUND OF HEAT AND FROST INSULATORS LOCAL 12, founded in 1950, is a mid-sized nonprofit that reported $20.0M in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $17.2M left a modest 14% surplus.

Mission

PLAN'S PURPOSE IS TO PROVIDE MEDICAL, VACATION, HRA AND OTHER 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 $15,455,552

Investment Income $4,486,635

Other Revenue $73,350

TOTAL REVENUE $20,015,537

Expense Breakdown

Grants Paid $0

Salaries & Benefits $132,299

Fundraising Expenses $0

Other Expenses $536,709

TOTAL EXPENSES $17,168,769

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,015,537	$15,086,101	+0.3%
Expenses	$17,168,769	$16,705,322	+0.0%
Net Income	$2,846,768	$-1,619,221	-2.8%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN JOVIC	UNION TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER COOK	UNION TRUSTEE	1.00	Director	$0	$0	$0
MARK BAYALA	UNION TRUSTEE	1.00	Director	$0	$0	$0
NICK GRGAS	UNION TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN MCCANN	UNION TRUSTEE	1.00	Director	$0	$0	$0
OCTAVIO SOARES	ALT UNION TRUSTEE	1.00	Director	$0	$0	$0
RICHARD BUDINICH - THRU 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
DONALD DONNELLY	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
AL DURANTI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER GRANDO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY HARTNETT	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
BRIAN AULL	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MATTEW COYLE - EFF 124	ALT EMPLOYER 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
2024	$20,015,537	$17,168,769	$31,465,894	$2,846,768
2023	$15,086,101	$16,705,322	$30,003,366	$-1,619,221
2022	$16,467,207	$17,783,811	$30,527,836	$-1,316,604
2021	$18,361,265	$16,493,317	$34,847,538	$1,867,948
2020	$15,853,560	$14,261,914	$30,908,000	$1,591,646
2019	$18,041,497	$16,426,668	$28,338,661	$1,614,829
2018	$19,354,418	$14,069,725	$24,829,160	$5,284,693

WELFARE FUND OF HEAT AND FROST INSULATORS LOCAL 12