International Assoc of Heat 47

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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

1937

Legal Domicile

Principal Officer

Walter Wilson

Phone

5177080665

Tax Period

2025-01-01 to 2025-12-31

International Assoc of Heat 47, founded in 1937, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2025. The organization ran a surplus of $532K, a strong 28% operating margin.

Mission

501(c)(5) Labor Organization. Members are skilled insulators and steam fitters.

Program Service Accomplishments

Program 1

Expenses: $1,374,626 Revenue: $1,907,073

Labor Organization. Recruit and serve the interests and welfare of our members. Secure and negotiate work contracts for insulator and steam fitter members.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,853,355

Program Service Revenue $0

Investment Income $17,718

Other Revenue $36,000

TOTAL REVENUE $1,907,073

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,374,626

Other Expenses $1,374,626

TOTAL EXPENSES $1,374,626

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,907,073	$1,881,582	+0.0%
Expenses	$1,374,626	$1,314,749	+0.0%
Net Income	$532,447	$566,833	-0.1%

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

192

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Walter Wilson	President	5.00	Officer Director	$0	$0	$0
Joshua Scalici	Executive Board	1.00	Director	$0	$0	$0
Alfredo Gutierrez	Executive Board	1.00	Director	$0	$0	$0
Greg Weller	Executive Board	1.00	Director	$0	$0	$0
Maryjo Hidalgo	Executive Board	1.00	Director	$0	$0	$0
Phillip Wilson	Executive Board	1.00	Director	$0	$0	$0
Andrew Michalak	Executive Board	1.00	Director	$0	$0	$0
Ashley Dillon	Office Manager	40.00	Key Emp	$0	$0	$0
Patrick Welch	Financial Secretary	40.00	Officer	$0	$0	$0
Joshua Kroell	PensionWelfare Trustee	1.00	Key Emp	$0	$0	$0
Paul McKeeby	Vice President	5.00	Officer	$0	$0	$0
Mitchell Carpenter	Executive Board	1.00		$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
2025	$1,907,073	$1,374,626	$2,382,813	$532,447
2024	$1,881,582	$1,314,749	$1,826,894	$566,833
2023	$1,163,618	$1,003,780	$1,259,352	$159,838
2022	$1,084,150	$942,467	$1,099,768	$141,683
2021	$1,143,465	$887,477	$959,497	$255,988
2020	$949,528	$949,132	$705,133	$396
2019	$893,827	$845,066	$703,802	$48,761
2018	$998,807	$1,014,072	$654,028	$-15,265