ILLINOIS PIPE TRADES ASSOCIATION

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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

1910

Legal Domicile

Principal Officer

DENNIS HAHNEY

Phone

2175281945

Tax Period

2023-06-01 to 2024-05-31

ILLINOIS PIPE TRADES ASSOCIATION, founded in 1910, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $686K, a strong 17% operating margin.

Mission

TO PROMOTE, PROTECT, AND SERVE THE MEMBER UNIONS BY ESTABLISHING AND MAINTAINING MINIMUM WAGE STANDARDS, PROTECTING MEMBERS FROM UNJUST COMPETITION, AND OVERSEEING LABOR AGREEMENTS WITHIN THE STATE OF ILLINOIS.

Program Service Accomplishments

Program 1

TO ESTABLISH AND MAINTAIN A MINIMUM STANDARD OF DAILY WAGES; TO MAINTAIN THE HOURS OF LABOR AS DEFINED IN AGREEMENTS IN THE VARIOUS LOCALITIES OF THE STATE; AND TO ELEVATE BY LEGAL AND PROPER MEANS THE MORAL, INTELLECTUAL AND SOCIAL CONDITIONS OF ALL MEMBERS AND TO PROMOTE AND FOSTER JUST AND EQUITABLE ACTION IN ALL DEALINGS WITH OTHERS AND EMPLOYERS.

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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 $1,860,000

Program Service Revenue $2,167,398

Investment Income $60,847

Other Revenue $47,067

TOTAL REVENUE $4,135,312

Expense Breakdown

Grants Paid $63,129

Salaries & Benefits $2,480,073

Fundraising Expenses $0

Other Expenses $906,387

TOTAL EXPENSES $3,449,589

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,135,312	$3,212,851	+0.3%
Expenses	$3,449,589	$5,306,007	-0.3%
Net Income	$685,723	$-2,093,156	-1.3%

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

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

$14,000

Total Directors

Key Employees

$287,961

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON GURNSEY	PRESIDENT	1.00	Officer	$7,000	$0	$7,000
BRYAN LAROCHE	VICE PRESIDENT - NEW	1.00	Officer	$0	$0	$0
HERB FROHOCK	VICE PRESIDENT - PAST	1.00	Officer	$0	$0	$0
MATT KELLY	VICE PRESIDENT	1.00	Officer	$0	$0	$0
JIM COYNE	VICE PRESIDENT	1.00	Officer	$0	$0	$0
MATT LIENEN	VICE PRESIDENT	1.00	Officer	$0	$0	$0
ROB SCHNICKER	VICE PRESIDENT	1.00	Officer	$0	$0	$0
DENNIS HAHNEY	SECRETARY-TREASURER	1.00	Officer	$7,000	$0	$7,000
DON DEGONIA	VICE PRESIDENT	1.00	Officer	$0	$0	$0
LYNN P KARNER	EXECUTIVE DIRECTOR - PAST	40.00	Key Emp	$181,057	$106,904	$287,961
MATTHEW LANGENDORF	LEAD ORGANIZER	40.00	Highest	$144,909	$82,147	$227,056
JON RILEY	ORGANIZER	40.00	Highest	$138,446	$73,524	$211,970
CAMERON SMITH	ORGANIZER	40.00	Highest	$135,835	$78,896	$214,731
RICK TERVEN JR	POLITICAL DIRECTOR	40.00	Highest	$166,400	$116,843	$283,243
DAVID BERRES	ORGANIZER	40.00	Highest	$111,264	$110,463	$221,727

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	No data	No data	No data	No data
2024	$4,135,312	$3,449,589	$3,990,471	$685,723
2024	$1,710,453	$3,133,005	$2,643,612	$-1,422,552
2023	$3,212,851	$5,306,007	$3,288,607	$-2,093,156
2022	$3,342,525	$2,027,101	$5,600,598	$1,315,424
2021	$3,059,821	$2,532,125	$4,040,761	$527,696