Iron Workers District Council Philadelphia & Vicinity Welfare Plan Board of

EIN: 231599740

Springfield, NJ

Total Revenue
$37,879,382
Total Expenses
$27,999,192
Total Assets
$57,615,749
Net Assets
$54,463,616
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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
NJ
Principal Officer
William Kolfenbach
Phone
2155370900
Tax Period
2023-10-01 to 2024-09-30

Iron Workers District Council Philadelphia & Vicinity Welfare Plan Board of, founded in 1950, is a mid-sized nonprofit that reported $37.9M in total revenue in fiscal year 2023. The organization ran a surplus of $9.9M, a strong 26% operating margin.

Mission

Provide health & welfare 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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $36,209,759
Investment Income $1,669,623
Other Revenue $0
TOTAL REVENUE $37,879,382

Expense Breakdown

Grants Paid $0
Salaries & Benefits $387,272
Fundraising Expenses $0
Other Expenses $1,230,242
TOTAL EXPENSES $27,999,192

Year-over-Year Comparison

2023 2022 Change
Revenue $37,879,382 $38,322,071 0.0%
Expenses $27,999,192 $23,642,568 +0.2%
Net Income $9,880,190 $14,679,503 -0.3%
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

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Governance

Voting Members
11
Independent Members
11
Employees
3
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
11
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kevin Boyle Union Trustee 2.00
Director
$0 $0 $0
Richard Sweeney Union Trustee 2.00
Director
$0 $0 $0
Stephen Sweeney Union Trustee 2.00
Director
$0 $0 $0
George Zalar Union Trustee 2.00
Director
$0 $0 $0
Michael Knobbs Union Trustee 2.00
Director
$0 $0 $0
Richard Jordan Union Trustee 2.00
Director
$0 $0 $0
Jack Kocsis Employer Trustee 2.00
Director
$0 $0 $0
Tad Hoffmaster Employer Trustee 2.00
Director
$0 $0 $0
Adam Short Employer Trustee 2.00
Director
$0 $0 $0
Joseph Merlino Employer Trustee 2.00
Director
$0 $0 $0
Michael Tierney Employer Trustee 2.00
Director
$0 $0 $0
Bonnie Landsman Employee 40.00
Highest
$92,729 $68,133 $213,022
Daniel Jordan Employee 40.00
Highest
$93,052 $68,133 $213,527
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 $37,879,382 $27,999,192 $57,615,749 $9,880,190
2023 $38,322,071 $23,642,568 $44,912,520 $14,679,503
2022 $34,559,363 $25,539,099 $31,934,336 $9,020,264
2021 $31,489,520 $26,170,355 $25,204,159 $5,319,165
2020 $24,893,046 $25,330,304 $19,156,075 $-437,258
2019 $28,218,785 $29,675,726 $18,478,005 $-1,456,941
2018 $29,977,058 $29,173,430 $19,967,972 $803,628
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