BOARD OF TRUSTEES CARPENTERS' HEALTH & WELFARE FUND OF PHILADELPHIA & VICINITY

EIN: 231574984

PHILADELPHIA, PA

Total Revenue
$129,770,431
Total Expenses
$126,299,095
Total Assets
$502,024,693
Net Assets
$498,435,700
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1960
Legal Domicile
PA
Principal Officer
WILLIAM SPROULE
Phone
2155680430
Tax Period
2021-05-01 to 2022-04-30

BOARD OF TRUSTEES CARPENTERS' HEALTH & WELFARE FUND OF PHILADELPHIA & VICINITY, founded in 1960, is a major nonprofit that reported $129.8M in total revenue in fiscal year 2021. Net assets of $498.4M represent 46 months of operating reserves.

Mission

THE CARPENTERS' HEALTH AND WELFARE FUND OF PHILADELPHIA AND VICINITY (THE PLAN) PROVIDES HEALTH AND OTHER BENEFITS TO ELIGIBLE MEMBERS OF METROPOLITAN REGIONAL COUNCIL OF PHILADELPHIA AND VICINITY OF THE UNITED BROTHERHOOD OF CARPENTERS AND JOINERS OF AMERICA WHICH REPRESENTS CARPENTERS EMPLOYED PRIMARILY IN SOUTHEASTERN PENNSYLVANIA.

Program Service Accomplishments

Program 1

THE PLAN PROVIDES MEDICAL, HOSPITAL, DENTAL, PRESCRIPTION, VISION, WEEKLY DISABILITY INCOME AND WORKERS' COMPENSATION, DEATH AND ACCIDENTAL DEATH AND DISMEMBERMENT, AND VACATION BENEFITS. REFERENCE...

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THE PLAN PROVIDES MEDICAL, HOSPITAL, DENTAL, PRESCRIPTION, VISION, WEEKLY DISABILITY INCOME AND WORKERS' COMPENSATION, DEATH AND ACCIDENTAL DEATH AND DISMEMBERMENT, AND VACATION BENEFITS. REFERENCE SHOULD BE MADE TO THE SUMMARY PLAN DESCRIPTION FOR SPECIFIC DETAILS ON ELIGIBILITY AND BENEFITS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $118,817,372
Investment Income $7,450,058
Other Revenue $3,503,001
TOTAL REVENUE $129,770,431

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,900,046
Fundraising Expenses $0
Other Expenses $3,114,676
TOTAL EXPENSES $126,299,095

Year-over-Year Comparison

2021 2020 Change
Revenue $129,770,431 $133,720,722 0.0%
Expenses $126,299,095 $112,226,987 +0.1%
Net Income $3,471,336 $21,493,735 -0.8%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
6
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
0
$0
Total Directors
12
$1,391,828
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK LUTTER MGMT TRUSTEE 2.00
Director
$0 $0 $0
JAMES R DAVIS MGMT TRUSTEE 2.00
Director
$0 $0 $0
PHILIP RADOMSKI MGMT TRUSTEE CO-CHAIR 2.00
Director
$0 $0 $0
JOSEPH CLEARKIN MGMT TRUSTEE 2.00
Director
$0 $0 $0
JACK HEALY MGMT TRUSTEE 2.00
Director
$0 $0 $0
MICHAEL MORROW LABOR TRUSTEE 2.00
Director
$0 $0 $160,311
BENJAMIN J CONNORS MGMT TRUSTEE 2.00
Director
$0 $0 $0
WILLIAM SPROULE LABOR TRUSTEE CO-CHAIR 2.00
Director
$0 $0 $357,708
RICHARD KELLY LABOR TRUSTEE 2.00
Director
$0 $89,864 $251,732
JAMES HOCKER LABOR TRUSTEE 2.00
Director
$0 $0 $178,154
ANTHONY ABRANTES LABOR TRUSTEE 2.00
Director
$0 $0 $238,077
RAYMOND BRUGUERAS LABOR TRUSTEE (P) 2.00
Director
$0 $0 $205,846
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
2022 $129,770,431 $126,299,095 $502,024,693 $3,471,336
2022 $88,045,752 $87,190,610 No data $855,142
2021 $133,720,722 $112,226,987 $507,387,795 $21,493,735
2020 $139,835,365 $120,982,417 $458,301,832 $18,852,948
2019 $147,923,116 $104,595,888 $445,523,440 $43,327,228
2019 $147,923,116 $104,595,888 $445,523,440 $43,327,228
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