PLUMBERS AND PIPEFITTERS UNION LOCAL NO 525 HEALTH AND WELFARE PLAN

EIN: 237283715

LAS VEGAS, NV

Total Revenue
$59,120,235
Total Expenses
$33,130,670
Total Assets
$57,989,743
Net Assets
$-164,709,322
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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
1951
Legal Domicile
NV
Principal Officer
DAVE WOOD
Phone
7024152180
Tax Period
2023-01-01 to 2023-12-31

PLUMBERS AND PIPEFITTERS UNION LOCAL NO 525 HEALTH AND WELFARE PLAN, founded in 1951, is a mid-sized nonprofit that reported $59.1M in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $26.0M, a strong 44% operating margin.

Mission

TO PROVIDE MEDICAL, DISABILITY, VISION, DENTAL AND LIFE INSURANCE TO PLAN PARTICIPANTS. THE PLAN ALSO PAYS FOR A SUBSTANCE ABUSE DETECTION PROGRAM.

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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 $30,693,607
Investment Income $899,493
Other Revenue $27,527,135
TOTAL REVENUE $59,120,235

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $2,761,618
TOTAL EXPENSES $33,130,670

Year-over-Year Comparison

2023 2022 Change
Revenue $59,120,235 $107,843,595 -0.5%
Expenses $33,130,670 $27,267,468 +0.2%
Net Income $25,989,565 $80,576,127 -0.7%
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
6
Independent Members
6
Employees
N/A
Volunteers
11

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
$818,677
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT LYDON CHAIR/LABOR TRUSTEE 2.00
Director
$0 $91,165 $283,475
JUSTIN EIGHMY LABOR TRUSTEE 2.00
Director
$0 $87,772 $263,160
JEFF ORR ALTERNATE LABOR TRUSTEE 2.00
Director
$0 $0 $0
ERIC RUBECK ALTERNATE LABOR TRUSTEE 2.00
Director
$0 $0 $0
DAVE WOOD LABOR TRUSTEE 2.00
Director
$0 $87,772 $257,299
WILLIAM HERN ALTERNATE LABOR TRUSTEE 2.00
Director
$0 $4,306 $14,743
MANDI WILKINS CO-CHAIR/MANAGEMENT TRUSTE 2.00
Director
$0 $0 $0
COREY DOYNE MANAGEMENT TRUSTEE 2.00
Director
$0 $0 $0
TOREY MANTOR MANAGEMENT TRUSTEE 2.00
Director
$0 $0 $0
TYLER BONWELL ALTERNATE MANAGEMENT TRUST 2.00
Director
$0 $0 $0
TIM WALKER ALTERNATE MANAGEMENT TRUST 2.00
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
2024 No data No data No data No data
2023 $59,120,235 $33,130,670 $57,989,743 $25,989,565
2022 $107,843,595 $27,267,468 $50,809,334 $80,576,127
2021 $24,246,834 $102,849,268 $50,222,690 $-78,602,434
2020 $26,798,826 $32,772,825 $49,688,436 $-5,973,999
2019 $27,689,508 $87,860,920 $45,882,857 $-60,171,412
2018 $13,884,056 $19,933,254 $37,008,415 $-6,049,198
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