PIPEFITTERS LOCAL #524 HEALTH & WELFARE FUND (EIN 237424474) - 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

1973

Legal Domicile

Principal Officer

PATRICK DOLAN

Phone

5703479214

Tax Period

2024-07-01 to 2025-06-30

PIPEFITTERS LOCAL #524 HEALTH & WELFARE FUND, founded in 1973, is a mid-sized nonprofit that reported $10.6M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 26% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS FOR MEMBERS OF THE LOCAL UNION

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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 $9,962,993

Investment Income $643,206

Other Revenue $0

TOTAL REVENUE $10,606,199

Expense Breakdown

Grants Paid $0

Salaries & Benefits $142,117

Fundraising Expenses $0

Program Expenses $7,812,696

Other Expenses $1,774,924

TOTAL EXPENSES $7,812,696

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,606,199	$8,410,656	+0.3%
Expenses	$7,812,696	$8,747,538	-0.1%
Net Income	$2,793,503	$-336,882	-9.3%

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

Governance

Voting Members

Independent Members

N/A

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

Total Directors

$281,930

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK DOLAN	TRUSTEE	1.00	Director	$0	$85,682	$281,930
BRIAN DOLAN	TRUSTEE	1.00	Director	$0	$0	$0
JASON FLYNN	TRUSTEE	1.00	Director	$0	$0	$0
JOHN MEEHAN	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH MARX	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN WEINBERGER	TRUSTEE	1.00	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
2025	$10,606,199	$7,812,696	$19,785,066	$2,793,503
2024	$8,410,656	$8,747,538	$16,210,082	$-336,882
2023	$8,499,143	$7,101,948	$15,903,678	$1,397,195
2022	$7,846,723	$6,639,385	$14,288,757	$1,207,338
2021	$6,470,427	$7,155,429	$14,835,088	$-685,002
2020	$7,271,040	$6,582,777	$14,697,779	$688,263
2019	$10,906,723	$9,249,085	$13,787,844	$1,657,638
2018	$16,026,216	$11,942,663	$11,988,577	$4,083,553

PIPEFITTERS LOCAL #524 HEALTH & WELFARE FUND