IRONWORKERS LOCAL 11 WELFARE FUND (EIN 226041517) - 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

1950

Legal Domicile

Principal Officer

WILLIAM KOLFENBACH JR

Phone

9733767230

Tax Period

2024-07-01 to 2025-06-30

IRONWORKERS LOCAL 11 WELFARE FUND, founded in 1950, is a mid-sized nonprofit that reported $45.3M in total revenue in fiscal year 2024. Expenses of $52.0M exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE HEALTH BENEFITS TO PARTICIPANTS.

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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 $43,382,725

Investment Income $1,898,480

Other Revenue $62,686

TOTAL REVENUE $45,343,891

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,612,354

Fundraising Expenses $0

Other Expenses $1,512,800

TOTAL EXPENSES $51,990,122

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,343,891	$44,268,409	+0.0%
Expenses	$51,990,122	$47,328,085	+0.1%
Net Income	$-6,646,231	$-3,059,676	+1.2%

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

$303,727

Total Directors

$1,545,017

Key Employees

$228,662

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK KOCSIS JR	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT SHAW	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
DAVID MURAWSKI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
FRED ARCHER	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN SANGLE	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN SWEENEY	UNION TRUSTEE	1.00	Director	$0	$0	$0
JOHN WADE JR	UNION TRUSTEE	1.00	Director	$0	$152,778	$389,191
MICHAEL LESLIE	UNION TRUSTEE	1.00	Director	$0	$152,778	$385,709
RICHARD MALCOLM	UNION TRUSTEE	1.00	Director	$0	$152,778	$390,508
CHARLES MCFADDEN	UNION TRUSTEE	1.00	Director	$0	$150,841	$379,609
WILLIAM A KOLFENBACH	FUND ADMINISTRATOR	40.00	Officer	$222,792	$80,935	$303,727
MICHAEL ROSENSTOCK	KEY EMPLOYEE	40.00	Key Emp	$157,518	$71,144	$228,662

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	$45,343,891	$51,990,122	$57,736,011	$-6,646,231
2024	$44,268,409	$47,328,085	$63,772,032	$-3,059,676
2023	$42,065,543	$45,856,847	$66,938,989	$-3,791,304
2022	$39,989,422	$48,575,744	$71,862,811	$-8,586,322
2021	$44,185,744	$48,711,897	$86,304,874	$-4,526,153
2020	$50,704,206	$46,311,472	$88,463,790	$4,392,734
2019	$54,728,300	$50,199,404	$83,199,253	$4,528,896
2018	$60,206,287	$50,252,181	$77,533,470	$9,954,106

IRONWORKERS LOCAL 11 WELFARE FUND