PLUMBERS & PIPEFITTERS LOCAL 172 WELFARE FUND (EIN 356022383) - 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

1959

Legal Domicile

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

TO PROVIDE HEALTH 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%)

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

Governance

Voting Members

Independent Members

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

$363,763

Key Employees

Highest Compensated

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

PLUMBERS & PIPEFITTERS LOCAL 172 WELFARE FUND