PLUMBERS AND STEAMFITTERS LOCAL NO 7 WELFARE FUND (EIN 146029930) - 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

1958

Legal Domicile

Principal Officer

EDWARD NADEAU

Phone

5187853440

Tax Period

2024-06-01 to 2025-05-31

PLUMBERS AND STEAMFITTERS LOCAL NO 7 WELFARE FUND, founded in 1958, is a mid-sized nonprofit that reported $26.1M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. The organization ran a surplus of $8.0M, a strong 30% operating margin.

Mission

THE PRIMARY EXEMPT PURPOSE OF THE FUND IS TO PROVIDE BENEFITS TO LOCAL NO. 7 UNION MEMBERS.

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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 $15,754,802

Investment Income $9,495,082

Other Revenue $858,787

TOTAL REVENUE $26,108,671

Expense Breakdown

Grants Paid $0

Salaries & Benefits $374,498

Fundraising Expenses $0

Other Expenses $576,358

TOTAL EXPENSES $18,148,142

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,108,671	$30,452,708	-0.1%
Expenses	$18,148,142	$16,569,826	+0.1%
Net Income	$7,960,529	$13,882,882	-0.4%

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

$179,389

Total Directors

$315,561

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL HARRINGTON	TRUSTEE	1.00	Director	$0	$48,268	$53,680
PETER CAMPITO	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD NADEAU	TRUSTEE	1.00	Director	$0	$62,525	$203,897
PAUL FREDERICKS	TRUSTEE	1.00	Director	$0	$49,533	$57,984
ROBERT SNYDER	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL KEATING	TRUSTEE	1.00	Director	$0	$0	$0
RYAN HEIMROTH	FUND ADMINISTRATOR	40.00	Officer	$125,957	$53,432	$179,389

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	$26,108,671	$18,148,142	$99,084,387	$7,960,529
2024	$30,452,708	$16,569,826	$93,079,900	$13,882,882
2023	$18,023,975	$16,799,529	$83,774,777	$1,224,446
2022	$17,993,186	$16,556,043	$86,326,507	$1,437,143
2021	$16,414,643	$13,781,138	$90,940,291	$2,633,505
2020	$15,143,185	$13,664,164	$74,320,015	$1,479,021
2019	$16,099,749	$13,262,854	$72,157,761	$2,836,895
2018	$15,464,150	$13,338,040	$71,113,127	$2,126,110

PLUMBERS AND STEAMFITTERS LOCAL NO 7 WELFARE FUND