PLUMBERS & PIPEFITTERS LOCAL 172 WELFARE FUND

EIN: 356022383

OAK BROOK, IL

Total Revenue
$12,300,573
Total Expenses
$11,901,683
Total Assets
$22,155,513
Net Assets
$21,242,593
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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
1959
Legal Domicile
IN
Principal Officer
DAVE NIEZGODSKI
Phone
6304720626
Tax Period
2024-03-01 to 2025-02-28

PLUMBERS & PIPEFITTERS LOCAL 172 WELFARE FUND, founded in 1959, is a mid-sized nonprofit that reported $12.3M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $11.9M left a modest 3% surplus.

Mission

PROVIDE HEALTH BENEFITS.

Program Service Accomplishments

Program 1

TO PROVIDE MEDICAL, VISION, DENTAL, PRESCRIPTION DRUG AND DISABILITY BENEFITS FOR ELIGIBLE PARTICIPANTS. THE FUND ALSO PROVIDES LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT AND LOSS OF SIGHT INSURANCE...

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TO PROVIDE MEDICAL, VISION, DENTAL, PRESCRIPTION DRUG AND DISABILITY BENEFITS FOR ELIGIBLE PARTICIPANTS. THE FUND ALSO PROVIDES LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT AND LOSS OF SIGHT INSURANCE FOR ELIGIBLE 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $11,726,088
Investment Income $574,485
Other Revenue $0
TOTAL REVENUE $12,300,573

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $437,377
TOTAL EXPENSES $11,901,683

Year-over-Year Comparison

2024 2023 Change
Revenue $12,300,573 $11,196,285 +0.1%
Expenses $11,901,683 $8,996,380 +0.3%
Net Income $398,890 $2,199,905 -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

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
3
Employees
12
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
6
$363,763
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BROC BUCZOLICH TRUSTEE 2.00
Director
$0 $72,222 $183,632
KEVIN CONERY TRUSTEE 2.00
Director
$0 $0 $0
DAVE NIEZGODSKI TRUSTEE 2.00
Director
$0 $0 $0
TIM FREET TRUSTEE 2.00
Director
$0 $0 $5,548
MATTHEW MEERT ALTERNATE TRUSTEE 2.00
Director
$0 $0 $0
IRA FOX ALTERNATE TRUSTEE 2.00
Director
$0 $70,221 $174,583
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 $12,300,573 $11,901,683 $22,155,513 $398,890
2024 $11,196,285 $8,996,380 $20,574,586 $2,199,905
2023 $10,131,517 $8,723,275 $16,620,734 $1,408,242
2022 $9,663,834 $7,972,464 $16,426,667 $1,691,370
2021 $8,804,527 $8,621,964 $15,312,075 $182,563
2020 $9,065,523 $8,660,606 $14,000,794 $404,917
2019 $9,242,468 $8,703,250 $12,793,128 $539,218
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