OPERATING ENGINEERS' LOCAL 324 HEALTH CARE PLAN

EIN: 381940673

TROY, MI

Total Revenue
$170,773,741
Total Expenses
$167,355,072
Total Assets
$147,918,475
Net Assets
$14,385,493
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
MI
Principal Officer
SCOTT HART
Phone
8106509685
Tax Period
2024-05-01 to 2025-04-30

OPERATING ENGINEERS' LOCAL 324 HEALTH CARE PLAN, founded in 1975, is a major nonprofit that reported $170.8M in total revenue in fiscal year 2024.

Mission

COLLECTION OF MONIES PURSUANT TO COLLECTIVE BARGAINING AGREEMENTS FOR DISTRIBUTION FOR PAYMENT OF COVERED HEALTH CARE, DEATH, AND DISABILITY BENEFITS TO PLAN PARTICIPANTS APPROX. 12,066 PARTICIPANTS BENEFIT UNDER TERMS OF PLAN.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $163,953,433
Investment Income $6,820,308
Other Revenue $0
TOTAL REVENUE $170,773,741

Expense Breakdown

Grants Paid $0
Salaries & Benefits $944,843
Fundraising Expenses $0
Other Expenses $5,654,270
TOTAL EXPENSES $167,355,072

Year-over-Year Comparison

2024 2023 Change
Revenue $170,773,741 $161,842,439 +0.1%
Expenses $167,355,072 $149,859,492 +0.1%
Net Income $3,418,669 $11,982,947 -0.7%
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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Governance

Voting Members
10
Independent Members
5
Employees
11
Volunteers
5

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
3
$490,310
Total Directors
12
$1,178,405
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNETH DOMBROW LABOR TRUSTEE 2.00
Director
$0 $80,600 $240,562
DOUGLAS STOCKWELL LABOR TRUSTEE, SECRETARY 2.00
Officer Director
$0 $139,566 $292,657
KEVIN BESONEN LABOR TRUSTEE 2.00
Director
$0 $77,883 $227,768
TONY BOLANOWSKI LABOR TRUSTEE - PART YEAR 2.00
Director
$0 $75,940 $219,765
SCOTT HART LABOR TRUSTEE, CFO INTL UNION OE 2.00
Officer Director
$0 $73,745 $197,653
JAMES OLEKSINSKI MGMT TRUSTEE, CHAIRMAN 2.00
Officer Director
$0 $0 $0
BOB ADCOCK MGMT TRUSTEE 2.00
Director
$0 $0 $0
ROB KRUEGER MGMT TRUSTEE - PART YEAR 2.00
Director
$0 $0 $0
LISA LAUZON LABOR TRUSTEE - PART YEAR 2.00
Director
$0 $0 $0
GLENN PEER JR MGMT TRUSTEE - PART YEAR 2.00
Director
$0 $0 $0
DEVEN RAU MGMT TRUSTEE 2.00
Director
$0 $0 $0
ME WOODBECK JR MGMT TRUSTEE 2.00
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
2025 $170,773,741 $167,355,072 $147,918,475 $3,418,669
2024 $161,842,439 $149,859,492 $136,633,680 $11,982,947
2023 $146,005,660 $138,131,555 $124,805,057 $7,874,105
2022 $138,853,618 $136,341,190 $115,540,084 $2,512,428
2021 $138,430,695 $116,047,121 $115,791,328 $22,383,574
2020 $130,258,640 $126,717,120 $93,827,548 $3,541,520
2019 $130,323,261 $133,975,311 $90,363,116 $-3,652,050
2018 $128,502,148 $123,767,531 $93,706,737 $4,734,617
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