INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 137 WELFARE FUND (EIN 131739714) - 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

1951

Legal Domicile

Principal Officer

AL WASSEL

Phone

9147621268

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 137 WELFARE FUND, founded in 1951, is a mid-sized nonprofit that reported $25.7M in total revenue in fiscal year 2024. Expenses of $24.9M left a modest 3% surplus.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 $23,629,489

Investment Income $2,036,393

Other Revenue $0

TOTAL REVENUE $25,665,882

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,063,959

Fundraising Expenses $0

Other Expenses $-1,172,706

TOTAL EXPENSES $24,864,553

Year-over-Year Comparison

	2024	2023	Change
Revenue	$25,665,882	$24,995,441	+0.0%
Expenses	$24,864,553	$25,396,226	0.0%
Net Income	$801,329	$-400,785	-3.0%

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

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

$257,322

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERT WASSELL	FUND MANAGER	10.00	Officer	$154,254	$103,068	$257,322
JEFFREY LOUGHLIN	UNION TRUSTEE	1.00	Director	$0	$0	$0
JAMES SASSO	UNION TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MILLER	UNION TRUSTEE	1.00	Director	$0	$0	$0
JOHN COONEY	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
RICHARD LOMBARDI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MARK FANTE	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	$25,665,882	$24,864,553	$37,227,899	$801,329
2023	$24,995,441	$25,396,226	$36,079,279	$-400,785
2022	$20,886,571	$23,589,090	$32,122,929	$-2,702,519
2021	$30,218,215	$23,763,934	$37,791,600	$6,454,281
2020	$20,362,145	$21,988,289	$34,271,781	$-1,626,144
2019	$24,992,431	$23,169,763	$34,663,000	$1,822,668
2018	$26,372,379	$25,328,018	$30,869,053	$1,044,361

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 137 WELFARE FUND