CONSTRUCTION WORKERS WELFARE FUND 147 C/O BASIL CASTROVINCI ASSOCIATES INC

EIN: 136101595

HOPATCONG, NJ

Total Revenue
$2,715,566
Total Expenses
$2,059,159
Total Assets
$2,884,439
Net Assets
$2,876,561
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1953
Legal Domicile
NY
Principal Officer
RICHARD T FITZSIMMONS
Phone
9736013828
Tax Period
2023-01-01 to 2023-12-31

CONSTRUCTION WORKERS WELFARE FUND 147 C/O BASIL CASTROVINCI ASSOCIATES INC, founded in 1953, is a community nonprofit that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 57% from the prior year, signaling strong growth momentum. The organization ran a surplus of $656K, a strong 24% operating margin.

Mission

TO PROVIDE MEDICAL AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES MEDICAL, VACATION AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS WHICH ARE FUNDED BY PARTICIPATING EMPLOYERS WHICH MAKE CONTRIBUTIONS BASED ON HOURS WORKED.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,649,732
Investment Income $65,834
Other Revenue $0
TOTAL REVENUE $2,715,566

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $89,390
TOTAL EXPENSES $2,059,159

Year-over-Year Comparison

2023 2022 Change
Revenue $2,715,566 $1,728,395 +0.6%
Expenses $2,059,159 $963,069 +1.1%
Net Income $656,407 $765,326 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
3
Employees
95
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
0
$0
Total Directors
6
$959,713
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD T FITZSIMMONS UNION TRUSTEE 1.00
Director
$0 $263,168 $527,104
JOHN RYAN UNION TRUSTEE 1.00
Director
$0 $6,695 $22,870
CHRISTOPHER FITZSIMMONS UNION TRUSTEE 1.00
Director
$0 $205,852 $409,739
ROBERT WESSELS EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
MARK ROSEN EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
PATRICK ROONEY EMPLOYER TRUSTEE 0.50
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 $2,715,566 $2,059,159 $2,884,439 $656,407
2022 $1,728,395 $963,069 $2,192,912 $765,326
2021 $554,401 $610,523 $1,589,714 $-56,122
2020 $582,534 $465,439 $1,655,109 $117,095
2019 $578,272 $606,571 $1,538,554 $-28,299
2018 $2,362,920 $2,968,112 $1,834,055 $-605,192
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