Steamfitters Industry Welfare Fund (EIN 131545680) - 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

1946

Legal Domicile

Phone

2124658888

Tax Period

2023-01-01 to 2023-12-31

Steamfitters Industry Welfare Fund, founded in 1946, is a mid-sized nonprofit in the Employment sector that reported $71.4M in total revenue in fiscal year 2023. Expenses of $84.2M exceeded revenue, resulting in a 18% operating deficit.

Mission

The Fund provides health coverage and other benefits to eligible participants in accordance with the rules and regulations of the Fund.

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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 $69,421,908

Investment Income $1,798,384

Other Revenue $156,742

TOTAL REVENUE $71,377,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,129,541

Fundraising Expenses $0

Program Expenses $81,864,698

Other Expenses $1,162,705

TOTAL EXPENSES $84,156,944

Year-over-Year Comparison

	2023	2022	Change
Revenue	$71,377,034	$68,606,554	+0.0%
Expenses	$84,156,944	$96,768,505	-0.1%
Net Income	$-12,779,910	$-28,161,951	-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

$493,126

Total Directors

Key Employees

$828,332

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
William J Turnbull	Executive Administrator	002.00	Officer	$22,227	$48,581	$493,126
Steve Cuadra	Education Director	N/A	Key Emp	$0	$66,027	$300,737
James Ippolito	Assistant Administrator	001.00	Key Emp	$8,705	$46,924	$264,546
James C White	Assistant Administrator	008.00	Key Emp	$60,540	$46,924	$263,049
Stephen Powers	Education Instructor	N/A	Highest	$0	$56,420	$242,670
Daniel Knights	Education Instructor	N/A	Highest	$0	$56,466	$240,413
Jason Grecco	Education Instructor	N/A	Highest	$0	$56,420	$240,299
Matthew Pizzo	Education Instructor	N/A	Highest	$0	$56,420	$233,238
Sean Driscoll	IT Director	009.00	Highest	$55,948	$26,280	$212,774
Michael Mulvaney	Trustee	002.00	Director	$0	$0	$0
Daniel Mulligan	Trustee	002.00	Director	$0	$0	$0
Clifford Ryder	Trustee	002.00	Director	$0	$0	$0
Anthony Saporito	Trustee	002.00	Director	$0	$0	$0
Edward English	Trustee	002.00	Director	$0	$0	$0
Shane McMorrow	Trustee	002.00	Director	$0	$0	$0
James Sheeran	Trustee	002.00	Director	$0	$0	$0
Robert Bartels Jr	Trustee	002.00	Director	$0	$0	$0
Brian Kearney Jr	Trustee	002.00	Director	$0	$0	$0
Dave Johnson	Trustee	002.00	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	No data	No data	No data	No data
2023	$71,377,034	$84,156,944	$91,726,848	$-12,779,910
2022	$68,606,554	$96,768,505	$96,675,389	$-28,161,951
2021	$84,135,128	$91,192,029	$135,023,453	$-7,056,901
2020	$74,266,606	$84,669,507	$142,425,475	$-10,402,901

Steamfitters Industry Welfare Fund