LOCAL 68 ENGINEERS UNION WELFARE F… - Form 990 Financial Data

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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

1952

Legal Domicile

Principal Officer

THOMAS P GIBLIN

Phone

9732276426

Tax Period

2024-07-01 to 2025-06-30

LOCAL 68 ENGINEERS UNION WELFARE FUND, founded in 1952, is a mid-sized nonprofit that reported $57.6M in total revenue in fiscal year 2024.

Mission

WELFARE BENEFIT PLAN

Program Service Accomplishments

Program 1

Expenses: $57,036,699

WELFARE FUND FOR THE PURPOSE OF PROVIDING HEALTH, PRESCRIPTION, DENTAL, VISION, LIFE INSURANCE AND SUPPLEMENTAL UNEMPLOYMENT AND DISABILITY FOR ELIGIBLE PLAN PARTICIPANTS PURSUANT TO A COLLECTIVE...

WELFARE FUND FOR THE PURPOSE OF PROVIDING HEALTH, PRESCRIPTION, DENTAL, VISION, LIFE INSURANCE AND SUPPLEMENTAL UNEMPLOYMENT AND DISABILITY FOR ELIGIBLE PLAN PARTICIPANTS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT.

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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 $52,602,420

Investment Income $4,956,280

Other Revenue $0

TOTAL REVENUE $57,558,700

Expense Breakdown

Grants Paid $0

Salaries & Benefits $461,826

Fundraising Expenses $0

Program Expenses $57,036,699

Other Expenses $1,118,779

TOTAL EXPENSES $57,036,699

Year-over-Year Comparison

	2024	2023	Change
Revenue	$57,558,700	$55,993,954	+0.0%
Expenses	$57,036,699	$48,794,651	+0.2%
Net Income	$522,001	$7,199,303	-0.9%

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

N/A

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

$361,239

Total Directors

$573,636

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS P GIBLIN	ADMINISTRATIVE MANAGER	5.00	Officer	$0	$104,836	$361,239
CHARLES MCDONALD	TRUSTEE	1.00	Director	$0	$104,557	$313,690
THOMAS MEISTER	TRUSTEE	1.00	Director	$0	$90,832	$259,946
CHRIS RUTON	EMPLOYEE	16.00	Highest	$0	$81,126	$208,286
KATHLEEN IANDIORIO	EMPLOYEE	16.00	Highest	$0	$73,447	$175,885
VICTOR LOPEZ	EMPLOYEE	40.00	Highest	$0	$73,447	$175,008
DOLORES CAPETOLA	TRUSTEE	1.00	Director	$0	$0	$0
JOSE GARCIA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL HALPIN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL RAPP	TRUSTEE	1.00	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	$57,558,700	$57,036,699	$101,378,677	$522,001
2024	$55,993,954	$48,794,651	$97,063,434	$7,199,303
2023	$51,049,697	$47,914,106	$85,498,966	$3,135,591
2022	$52,244,589	$49,824,440	$75,917,948	$2,420,149
2021	$51,382,573	$46,348,278	$91,129,642	$5,034,295
2020	$45,735,495	$41,466,512	$74,026,875	$4,268,983
2019	$47,189,551	$43,169,024	$71,271,797	$4,020,527
2018	$41,157,838	$43,979,479	$65,933,069	$-2,821,641

LOCAL 68 ENGINEERS UNION WELFARE FUND