PLUMBERS & PIPEFITTERS LOCAL 553 T… - Form 990 Financial Data

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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

1977

Legal Domicile

Phone

6182594379

Tax Period

2023-01-01 to 2023-12-31

PLUMBERS & PIPEFITTERS LOCAL 553 TRAIN TRAINING FUND, founded in 1977, is a small nonprofit that reported $406K in total revenue in fiscal year 2023. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $851K exceeded revenue, resulting in a 110% operating deficit.

Mission

LABOR UNION TRAINING SCHOOL

Program Service Accomplishments

Program 1

The training school provides technical education to apprentices, allowing them to perfect the skills required in the trade. The school is also available to Journeymen for enhancing their skills in...

The training school provides technical education to apprentices, allowing them to perfect the skills required in the trade. The school is also available to Journeymen for enhancing their skills in new technologies.

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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 $473,816

Investment Income $-67,893

Other Revenue $0

TOTAL REVENUE $405,923

Expense Breakdown

Grants Paid $0

Salaries & Benefits $367,739

Fundraising Expenses $0

Other Expenses $229,395

TOTAL EXPENSES $851,158

Year-over-Year Comparison

	2023	2022	Change
Revenue	$405,923	$1,869,770	-0.8%
Expenses	$851,158	$478,659	+0.8%
Net Income	$-445,235	$1,391,111	-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

Total Directors

$156,531

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL V WITTMAN	Trustee	40.00	Director	$114,061	$0	$114,061
MATT TONER	Trustee	40.00	Director	$42,470	$0	$42,470
BRETT SCHWALB	BUSINESS REP	0.00	Director	$0	$0	$0
DAVID LOELLKE	EMPLOYER TRUSTE	0.00	Director	$0	$0	$0
JOHN BATTUELLO JR	Trustee	0.00	Director	$0	$0	$0
SEAN EICKHOFF	Trustee	0.00	Director	$0	$0	$0

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	$405,923	$851,158	$3,306,168	$-445,235
2022	$1,869,770	$478,659	$3,488,376	$1,391,111
2021	$946,496	$381,706	$2,349,773	$564,790
2020	$371,620	$394,948	$1,986,966	$-23,328
2019	$338,811	$364,759	$1,961,461	$-25,948
2018	$450,116	$356,354	$1,855,294	$93,762

PLUMBERS & PIPEFITTERS LOCAL 553 TRAIN TRAINING FUND