INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS LOCAL 17 WELFARE FUND (EIN 362148015) - 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

THOMAS MCGRATH

Phone

7084688000

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS LOCAL 17 WELFARE FUND, founded in 1949, is a mid-sized nonprofit that reported $22.7M in total revenue in fiscal year 2018. Net assets of $51.3M represent 27 months of operating reserves.

Mission

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 $24,431,928

Investment Income $2,631,399

Other Revenue $592,714

TOTAL REVENUE $27,656,041

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,398,187

Fundraising Expenses $0

Other Expenses $1,161,996

TOTAL EXPENSES $25,536,766

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,656,041	$25,931,016	+0.1%
Expenses	$25,536,766	$28,032,801	-0.1%
Net Income	$2,119,275	$-2,101,785	-2.0%

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

$286,329

Total Directors

$610,952

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS MCGRATH	TRUSTEE	0.50	Director	$0	$133,630	$312,137
ROBERT FLYNN	TRUSTEE	1.00	Director	$0	$131,103	$298,815
ASHLEY LUSE	TRUSTEE	1.00	Director	$0	$0	$0
STEVE CASTELLARIN	TRUSTEE	1.00	Director	$0	$0	$0
MARY MCMULLIN	FUND ADMINISTRATOR	40.00	Officer	$0	$120,683	$286,329

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	$27,656,041	$25,536,766	$61,206,982	$2,119,275
2023	$25,931,016	$28,032,801	$56,956,885	$-2,101,785
2022	$22,189,545	$23,883,338	$55,512,237	$-1,693,793
2021	$23,341,676	$21,956,891	$63,312,260	$1,384,785
2020	$21,985,876	$20,801,447	$59,377,426	$1,184,429
2019	$24,367,554	$24,526,851	$55,004,324	$-159,297
2018	$22,699,042	$24,847,563	$51,538,373	$-2,148,521

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS LOCAL 17 WELFARE FUND