PLUMBERS AND STEAMFITTERS LOCAL 322 HEALTH AND WELFARE FUND (EIN 210699966) - 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

1953

Legal Domicile

Principal Officer

DAVE BRUCE

Phone

6095673322

Tax Period

2024-05-01 to 2025-04-30

PLUMBERS AND STEAMFITTERS LOCAL 322 HEALTH AND WELFARE FUND, founded in 1953, is a mid-sized nonprofit that reported $33.7M in total revenue in fiscal year 2024. Expenses of $31.0M left a modest 8% surplus.

Mission

THE PLAN PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS OF THE UNITED ASSOCIATION LOCAL NO. 322, WHICH REPRESENTS PLUMBERS AND PIPEFITTERS EMPLOYED IN SOUTHERN NEW JERSEY, AND TO THEIR DEPENDENTS.

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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 $32,216,551

Investment Income $912,790

Other Revenue $568,610

TOTAL REVENUE $33,697,951

Expense Breakdown

Grants Paid $0

Salaries & Benefits $781,288

Fundraising Expenses $0

Other Expenses $606,475

TOTAL EXPENSES $30,988,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,697,951	$32,000,036	+0.1%
Expenses	$30,988,723	$27,311,334	+0.1%
Net Income	$2,709,228	$4,688,702	-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

Total Directors

$580,430

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BRUCE	UNION TRUSTEE	2.00	Director	$0	$146,979	$322,147
JOHN SHALOO	ADMINISTRATOR	12.00	Director	$46,608	$100,346	$258,283
STEPHEN COURANT	UNION TRUSTEE	2.00	Director	$0	$0	$0
GARY FOROSISKY	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
DAVE MCCLOSKEY	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOHN MCGINNISS	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
GEORGE YOUNG	UNION TRUSTEE	2.00	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	$33,697,951	$30,988,723	$36,217,140	$2,709,228
2024	$32,000,036	$27,311,334	$32,188,776	$4,688,702
2023	$28,652,324	$26,280,819	$27,668,155	$2,371,505
2022	$25,597,154	$29,942,428	$24,916,497	$-4,345,274
2021	$27,746,314	$26,395,622	$31,074,363	$1,350,692
2020	$29,936,687	$28,495,281	$30,704,455	$1,441,406
2019	$31,940,661	$29,115,112	$28,114,412	$2,825,549
2018	$27,735,089	$28,746,221	$24,705,334	$-1,011,132

PLUMBERS AND STEAMFITTERS LOCAL 322 HEALTH AND WELFARE FUND