INT'L ASSOC OF HEAT & FROST INSULATORS & ALLIED WORKERS LOCAL 26 WELFARE PLAN (EIN 223050907) - 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

MATTHEW HUGHES

Phone

5853231620

Tax Period

2024-01-01 to 2024-12-31

INT'L ASSOC OF HEAT & FROST INSULATORS & ALLIED WORKERS LOCAL 26 WELFARE PLAN, founded in 1953, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. The organization ran a surplus of $260K, a strong 25% operating margin.

Mission

TO PROVIDE MEDICAL AND OTHER WELFARE BENEFITS TO ELIGIBLE EMPLOYEES OF CONTRIBUTING EMPLOYERS OF LOCAL UNION NO. 26.

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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 $981,113

Investment Income $71,425

Other Revenue $4,597

TOTAL REVENUE $1,057,135

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $120,467

TOTAL EXPENSES $797,017

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,057,135	$1,051,602	+0.0%
Expenses	$797,017	$749,976	+0.1%
Net Income	$260,118	$301,626	-0.1%

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

$82,882

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MURRY E HOPPER	TRUSTEE	0.50	Director	$0	$0	$0
JOHN R FLANAGAN	TRUSTEE UNTIL 1/2024	0.50	Director	$0	$0	$0
LEE D JUBY	TRUSTEE	0.50	Director	$0	$0	$0
KEVIN S COAST	TRUSTEE	0.50	Director	$0	$0	$0
ALEXANDER HENTRY	TRUSTEE	0.50	Director	$0	$0	$0
RICHARD MULLEN	TRUSTEE	0.50	Director	$0	$0	$0
BRIAN URQUHART	TRUSTEE AS OF 4/2024	0.50	Director	$0	$0	$0
BRIAN URQUHART	FUND MANAGER UNTIL 4/2024	5.00	Officer	$0	$0	$12,257
MATTHEW HUGHES	FUND MANAGER AS OF 4/2024	5.00	Officer	$0	$0	$70,625

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
2024	$1,057,135	$797,017	$3,684,423	$260,118
2023	$1,051,602	$749,976	$3,319,839	$301,626
2022	$888,235	$768,645	$2,918,273	$119,590
2021	$931,133	$713,241	$2,862,003	$217,892
2020	$1,090,316	$797,775	$2,594,113	$292,541
2019	$1,074,433	$720,622	$2,301,572	$353,811
2018	$1,082,543	$651,432	$1,967,586	$431,111

INT'L ASSOC OF HEAT & FROST INSULATORS & ALLIED WORKERS LOCAL 26 WELFARE PLAN