PIPE FITTERS' WELFARE FUND LOCAL 597 (EIN 362141703) - 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

1949

Legal Domicile

Principal Officer

CHRISTOPHER HERNANDEZ

Phone

3126330597

Tax Period

2023-01-01 to 2023-12-31

PIPE FITTERS' WELFARE FUND LOCAL 597, founded in 1949, is a major nonprofit that reported $169.2M in total revenue in fiscal year 2023.

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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $161,543,410

Investment Income $7,573,062

Other Revenue $93,064

TOTAL REVENUE $169,209,536

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,387,578

Fundraising Expenses $0

Other Expenses $2,310,989

TOTAL EXPENSES $168,379,051

Year-over-Year Comparison

	2023	2022	Change
Revenue	$169,209,536	$167,682,021	+0.0%
Expenses	$168,379,051	$180,488,844	-0.1%
Net Income	$830,485	$-12,806,823	-1.1%

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

127

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

$1,909,065

Key Employees

$318,551

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENNIS HAHNEY	TRUSTEE	1.00	Director	$0	$136,716	$386,273
TIMOTHY GILLOOLEY	TRUSTEE	1.00	Director	$0	$135,364	$374,701
CHRISTOPHER HERNANDEZ	TRUSTEE	1.00	Director	$0	$158,709	$501,671
JOSEPH VELLENGA JR	TRUSTEE (NEW)	1.00	Director	$0	$135,364	$369,949
MONTE KIMES	TRUSTEE (PAST)	1.00	Director	$0	$80,956	$276,471
BRIAN HELM	TRUSTEE	1.00	Director	$0	$0	$0
MARC PITTAS	TRUSTEE	1.00	Director	$0	$0	$0
KATHY MCCAULEY	TRUSTEE	1.00	Director	$0	$0	$0
JOHN RAYBURN	TRUSTEE	1.00	Director	$0	$0	$0
NICHOLE LINHARDT	ADMINISTRATOR	20.00	Key Emp	$276,146	$42,405	$318,551

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	$169,209,536	$168,379,051	$320,491,936	$830,485
2022	$167,682,021	$180,488,844	$293,603,988	$-12,806,823
2021	$170,883,108	$174,759,319	$345,233,277	$-3,876,211
2020	$154,412,545	$163,798,749	$342,652,079	$-9,386,204
2019	$158,144,771	$166,305,945	$334,355,061	$-8,161,174
2018	$153,047,788	$153,016,262	$316,098,895	$31,526

PIPE FITTERS' WELFARE FUND LOCAL 597