PLUMBERS LOCAL 98 INSURANCE FUND

EIN: 386447251

TROY, MI

Total Revenue
$17,059,470
Total Expenses
$16,174,191
Total Assets
$25,974,468
Net Assets
$25,881,576
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
MI
Principal Officer
GARY GLASER
Phone
2488139800
Tax Period
2023-09-01 to 2024-08-31

PLUMBERS LOCAL 98 INSURANCE FUND, founded in 1982, is a mid-sized nonprofit that reported $17.1M in total revenue in fiscal year 2023. Expenses of $16.2M left a modest 5% surplus.

Mission

THE PLUMBERS LOCAL NO. 98 INSURANCE FUND IS CRAFTED FOR THE PURPOSE OF PROVIDING HOSPITAL, MEDICAL, PRESCRIPTION, DENTAL, LIFE, VISION, HEARING, DISABILITY AND OTHER SUPPLEMENTAL BENEFITS UNDER A COLLECTIVELY BARGAINED AGREEMENT, ON BEHALF OF THE PLUMBERS LOCAL NO. 98, IN COMPLIANCE WITH THE TAFT-HARTLY ACT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $16,509,576
Investment Income $543,974
Other Revenue $5,920
TOTAL REVENUE $17,059,470

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $1,399,671
TOTAL EXPENSES $16,174,191

Year-over-Year Comparison

2023 2022 Change
Revenue $17,059,470 $16,261,019 +0.0%
Expenses $16,174,191 $14,622,655 +0.1%
Net Income $885,279 $1,638,364 -0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
44
Volunteers
6

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
2
$115,861
Total Directors
9
$230,786
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARLO CASTIGLIONE FORMER TRUST 1.00
Officer Director
$0 $0 $115,861
JON DEROO FORMER CHAIR 1.00
Director
$0 $0 $114,925
WADE KOVACH FORMER TRUST 1.00
Director
$0 $0 $0
JOHN R GREEN CHAIRMAN 1.00
Officer Director
$0 $0 $0
CHRISTOPHER FREEMAN TRUSTEE 1.00
Director
$0 $0 $0
CARL EVANS TRUSTEE 1.00
Director
$0 $0 $0
GARY GLASER SECRETARY 1.00
Director
$0 $0 $0
DAN NIXON TRUSTEE 1.00
Director
$0 $0 $0
RUFUS HAMILTON TRUSTEE 1.00
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 $17,059,470 $16,174,191 $25,974,468 $885,279
2023 $16,261,019 $14,622,655 $21,963,610 $1,638,364
2022 $14,696,130 $15,049,775 $21,054,368 $-353,645
2021 $17,830,700 $16,473,853 $23,353,131 $1,356,847
2020 $16,423,063 $14,108,770 $20,825,151 $2,314,293
2019 $14,682,274 $16,978,789 $18,614,246 $-2,296,515
2018 $15,728,348 $17,654,787 $19,982,109 $-1,926,439
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