PLUMBERS AND STEAMFITTERS LOCAL NO… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

AMIR WIRR

Phone

9147377220

Tax Period

2024-07-01 to 2025-06-30

PLUMBERS AND STEAMFITTERS LOCAL NO 21 WELFARE FUND, founded in 1998, is a mid-sized nonprofit in the Mutual Benefit sector that reported $24.7M in total revenue in fiscal year 2024.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS.

Program Service Accomplishments

Program 1

PROVIDING HOSPITAL, SURGICAL, MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUGS, LIFE INSURANCE AND CERTAIN OTHER BENEFITS TO QUALIFYING 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 $20,569,188

Investment Income $619,879

Other Revenue $3,495,116

TOTAL REVENUE $24,684,183

Expense Breakdown

Grants Paid $0

Salaries & Benefits $301,003

Fundraising Expenses $0

Other Expenses $847,533

TOTAL EXPENSES $27,116,804

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,684,183	$23,974,035	+0.0%
Expenses	$27,116,804	$20,822,214	+0.3%
Net Income	$-2,432,621	$3,151,821	-1.8%

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

N/A

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

$1,416,769

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS W O'BRIEN	UNION TRUSTEE	5.00	Director	$0	$138,065	$301,297
SEAN CAREY	UNION TRUSTEE	5.00	Director	$0	$129,096	$278,043
CRAIG STRASSER	UNION TRUSTEE	5.00	Director	$0	$130,196	$279,143
JOHN MCCRUDDEN JR	UNION TRUSTEE	5.00	Director	$0	$130,196	$279,143
DON CALABRESE	UNION TRUSTEE	5.00	Director	$0	$130,196	$279,143
GRANT COPPOLA	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JAMES ESTABROOK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ANDREW GRUNDMAN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ANDREW CUOMO	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
2025	$24,684,183	$27,116,804	$19,528,063	$-2,432,621
2024	$23,974,035	$20,822,214	$20,891,918	$3,151,821
2023	$20,573,205	$19,924,206	$16,948,962	$648,999
2022	$16,715,629	$17,721,596	$16,370,718	$-1,005,967
2021	$16,220,967	$16,405,681	$17,744,557	$-184,714
2020	$17,500,988	$18,794,927	$17,688,171	$-1,293,939
2019	$19,869,572	$19,841,752	$18,680,508	$27,820
2018	$13,304,180	$16,513,926	$17,357,399	$-3,209,746

PLUMBERS AND STEAMFITTERS LOCAL NO 21 WELFARE FUND