IRON WORKERS DISTRICT COUNCIL OF WESTERN NY & VICINITY WELFARE FUND

EIN: 160776208

ROCHESTER, NY

Total Revenue
$7,948,001
Total Expenses
$6,110,709
Total Assets
$9,286,181
Net Assets
$8,597,040
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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
1953
Legal Domicile
NY
Principal Officer
LAURIE GOOD
Phone
5854243510
Tax Period
2024-07-01 to 2025-06-30

IRON WORKERS DISTRICT COUNCIL OF WESTERN NY & VICINITY WELFARE FUND, founded in 1953, is a community nonprofit that reported $7.9M in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 23% operating margin.

Mission

TO PROVIDE WELFARE BENEFITS TO UNION IRON WORKERS AND THEIR BENEFICIARIES.

Program Service Accomplishments

Program 1

THE WELFARE FUND PROVIDED SUPPLEMENTAL DISABILITY, MAJOR MEDICAL, HOSPITALIZATION, OPTICAL, PRESCRIPTION DRUG, DEATH BENEFITS AND WAGE REPLACEMENT BENEFITS TO ELIGIBLE MEMBERS OF PARTICIPATING IRON...

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THE WELFARE FUND PROVIDED SUPPLEMENTAL DISABILITY, MAJOR MEDICAL, HOSPITALIZATION, OPTICAL, PRESCRIPTION DRUG, DEATH BENEFITS AND WAGE REPLACEMENT BENEFITS TO ELIGIBLE MEMBERS OF PARTICIPATING IRON WORKERS UNIONS.

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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 $7,151,472
Investment Income $265,880
Other Revenue $530,649
TOTAL REVENUE $7,948,001

Expense Breakdown

Grants Paid $0
Salaries & Benefits $389,557
Fundraising Expenses $0
Other Expenses $1,285,282
TOTAL EXPENSES $6,110,709

Year-over-Year Comparison

2024 2023 Change
Revenue $7,948,001 $5,164,491 +0.5%
Expenses $6,110,709 $4,644,700 +0.3%
Net Income $1,837,292 $519,791 +2.5%
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

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Governance

Voting Members
6
Independent Members
3
Employees
6
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
1
$107,754
Total Directors
7
$529,927
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT COLE LABOR TRUSTE N/A
Director
$1,500 $84,750 $179,512
TIM STARWALD LABOR TRUSTE N/A
Director
$6,000 $69,298 $154,601
SCOTT BRYDGES LABOR TRUS. N/A
Director
$7,500 $39,331 $122,799
LAURIE GOOD ADMIN. MANAG 14.00
Officer
$75,055 $32,699 $107,754
JASON LAGAMBA LABOR TRUSTE N/A
Director
$4,100 $50,183 $64,015
TOM DICKEY MANAGEMENT T N/A
Director
$9,000 $0 $9,000
KELLY GILLIGAN MANAGEMENT T N/A
Director
$0 $0 $0
HL STEPHENSON MANAGEMENT T N/A
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 $7,948,001 $6,110,709 $9,286,181 $1,837,292
2024 $5,164,491 $4,644,700 $6,716,070 $519,791
2023 $5,744,625 $4,789,673 $6,142,792 $954,952
2022 $6,361,565 $5,285,261 $5,009,575 $1,076,304
2021 $5,560,744 $5,501,498 $4,186,837 $59,246
2020 $5,093,793 $4,548,941 $4,163,747 $544,852
2019 $4,978,116 $4,055,680 $3,160,462 $922,436
2019 $5,025,957 $4,055,680 $3,565,145 $970,277
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