NORTHEASTERN NEW YORK DISTRICT COUNCIL PIPEFITTERS WELFARE FUND (EIN 141418020) - 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

1954

Legal Domicile

Principal Officer

MICHAEL JARVIS

Phone

5187920586

Tax Period

2024-06-01 to 2025-05-31

NORTHEASTERN NEW YORK DISTRICT COUNCIL PIPEFITTERS WELFARE FUND, founded in 1954, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2024. The organization ran a surplus of $1.4M, a strong 22% operating margin.

Mission

TO PROVIDE MEDICAL, LIFE, DISABILITY AND DEATH BENEFITS TO MEMBERS OF THE LOCAL UNION NO. 773.

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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 $4,357,493

Investment Income $1,988,722

Other Revenue $127,315

TOTAL REVENUE $6,473,530

Expense Breakdown

Grants Paid $0

Salaries & Benefits $323,916

Fundraising Expenses $0

Other Expenses $373,699

TOTAL EXPENSES $5,044,441

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,473,530	$6,560,971	0.0%
Expenses	$5,044,441	$5,433,383	-0.1%
Net Income	$1,429,089	$1,127,588	+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

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

$167,808

Total Directors

$248,834

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SALERNO	TRUSTEE	1.00	Director	$0	$0	$0
TERRY BULMAN	TRUSTEE	1.00	Director	$0	$0	$0
ANDREW LAPLANTE	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL MONROE JR	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH COLLIER	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL JARVIS JR	TRUSTEE	1.00	Director	$0	$114,100	$246,600
WILLIAM AUSTIN	TRUSTEE	1.00	Director	$0	$0	$0
ADAM ROUND	TRUSTEE	1.00	Director	$0	$770	$2,234
CHRISTOPHER BAXTER	FUND ADMINISTRATOR	40.00	Officer	$100,970	$66,838	$167,808

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	$6,473,530	$5,044,441	$45,840,854	$1,429,089
2024	$6,560,971	$5,433,383	$42,688,688	$1,127,588
2023	$6,502,514	$5,727,410	$38,815,163	$775,104
2022	$8,036,988	$5,072,294	$38,513,348	$2,964,694
2021	$7,908,007	$5,430,154	$40,297,870	$2,477,853
2020	$5,839,750	$4,930,828	$33,009,872	$908,922
2019	$6,831,008	$4,977,114	$31,005,290	$1,853,894

NORTHEASTERN NEW YORK DISTRICT COUNCIL PIPEFITTERS WELFARE FUND