WELFARE FUND OF THE IUOE LOCAL UNIONS 15 15A 15C 15D AFL-CIO

EIN: 136694320

LONG ISLAND CITY, NY

Total Revenue
$144,868,496
Total Expenses
$123,842,442
Total Assets
$132,216,649
Net Assets
$103,993,579
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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
1975
Legal Domicile
NY
Principal Officer
CATHERINE CHASE
Phone
2122557657
Tax Period
2024-01-01 to 2024-12-31

WELFARE FUND OF THE IUOE LOCAL UNIONS 15 15A 15C 15D AFL-CIO, founded in 1975, is a major nonprofit that reported $144.9M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $123.8M left a modest 15% surplus.

Mission

TO PROVIDE MEDICAL, HOSPITAL, SURGICAL, OPTICAL, DENTAL, PRESCRIPTION DRUG, VACATION, DEATH, ACCIDENTAL DEATH AND DISMEMBERMENT AND SHORT TERM DISABILITY 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $140,108,674
Investment Income $4,729,213
Other Revenue $30,609
TOTAL REVENUE $144,868,496

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,826,584
Fundraising Expenses $0
Other Expenses $895,813
TOTAL EXPENSES $123,842,442

Year-over-Year Comparison

2024 2023 Change
Revenue $144,868,496 $123,767,101 +0.2%
Expenses $123,842,442 $107,062,765 +0.2%
Net Income $21,026,054 $16,704,336 +0.3%
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
5
Independent Members
5
Employees
19
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
5
$0
Key Employees
1
$457,588
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES T CALLAHAN UNION TRUSTEE 1.00
Director
$0 $0 $0
THOMAS A CALLAHAN UNION TRUSTEE 1.00
Director
$0 $0 $0
JOHN MCNAMARA ALTERNATE UNION TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL SALGO EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
WILLIAM TYSON EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
CATHERINE CHASE FUND ADMINISTRATOR 17.00
Key Emp
$378,079 $79,509 $457,588
YASIR I ELTAYEB IT SUPPORT 11.00
Highest
$270,957 $77,412 $348,369
WILLIAM G STANTON IT SUPPORT 13.00
Highest
$235,106 $89,221 $324,327
RICHARD A LOPEZ CLAIMS SPECIALIST 40.00
Highest
$199,919 $65,393 $265,312
ANGEL N MALDONADO CLAIMS SPECIALIST 40.00
Highest
$146,907 $60,385 $207,292
JENNIFER M MARINO FUND OFFICE MANAGER 2.00
Highest
$139,960 $59,729 $199,689
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 $144,868,496 $123,842,442 $132,216,649 $21,026,054
2023 $123,767,101 $107,062,765 $108,984,949 $16,704,336
2022 $105,678,120 $114,325,915 $87,169,155 $-8,647,795
2021 $98,628,304 $99,720,453 $98,450,225 $-1,092,149
2020 $95,363,543 $89,969,819 $100,699,518 $5,393,724
2019 $103,721,768 $93,127,777 $89,748,641 $10,593,991
2018 $95,993,741 $91,618,769 $75,614,127 $4,374,972
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