PLUMBERS AND PIPEFITTERS LOCAL 553 HEALT (EIN 370695761) - 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

1952

Legal Domicile

Principal Officer

BRETT SCHWALB

Phone

6182597533

Tax Period

2024-01-01 to 2024-12-31

PLUMBERS AND PIPEFITTERS LOCAL 553 HEALT, founded in 1952, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. Expenses of $4.1M exceeded revenue, resulting in a 11% operating deficit.

Mission

HEALTH INSURANCE

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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 $3,242,116

Investment Income $277,245

Other Revenue $182,128

TOTAL REVENUE $3,701,489

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,234

Fundraising Expenses $0

Program Expenses $4,007,549

Other Expenses $236,260

TOTAL EXPENSES $4,122,225

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,701,489	$2,627,045	+0.4%
Expenses	$4,122,225	$5,494,291	-0.2%
Net Income	$-420,736	$-2,867,246	-0.9%

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

N/A

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

$114,670

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN EICKHOFF	TRUSTEE	0.00	Director	$0	$0	$0
DAVID LOELLKE	TRUSTEE	0.00	Director	$0	$0	$0
BRETT SCHWALB	TRUSTEE	0.00	Director	$0	$0	$0
JOHN BATTUELLO JR	TRUSTEE	0.00	Director	$0	$0	$0
BRADLEY BEST	PLAN ADMINISTRATOR	40.00	Officer	$114,670	$0	$114,670

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	$3,701,489	$4,122,225	$6,958,756	$-420,736
2023	$2,627,045	$5,494,291	$7,046,409	$-2,867,246
2022	$3,576,318	$3,838,727	$8,687,138	$-262,409
2021	$4,869,587	$3,412,709	$10,624,895	$1,456,878
2020	$2,764,708	$3,201,942	$10,659,659	$-437,234
2019	$3,086,689	$3,457,445	$10,019,658	$-370,756
2018	$3,121,244	$2,941,695	$9,444,775	$179,549

PLUMBERS AND PIPEFITTERS LOCAL 553 HEALT