IRON WORKERS LOCAL 8 WELFARE FUND (EIN 390855190) - 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

CHARLIE FALKNER

Phone

8002724248

Tax Period

2024-06-01 to 2025-05-31

IRON WORKERS LOCAL 8 WELFARE FUND, founded in 1952, is a mid-sized nonprofit that reported $23.0M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $20.8M left a modest 10% surplus.

Mission

TO PROVIDE BENEFITS TO ELIGIBLE 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $20,022,451

Investment Income $2,970,659

Other Revenue $33,858

TOTAL REVENUE $23,026,968

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $2,761,564

TOTAL EXPENSES $20,791,908

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,026,968	$21,162,693	+0.1%
Expenses	$20,791,908	$20,119,636	+0.0%
Net Income	$2,235,060	$1,043,057	+1.1%

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

Independent Members

Employees

Volunteers

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

$235,505

Total Directors

$674,065

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE HENKE	CHAIRMAN	0.25	Officer Director	$0	$0	$0
TIM ROMAN	TRUSTEE	1.00	Director	$0	$97,920	$210,523
BRIAN MCCAMBRIDGE	TRUSTEE	1.00	Director	$0	$97,920	$210,523
MARC LAURET	TRUSTEE	0.25	Director	$0	$0	$0
PETE KLOSTERMAN	TRUSTEE	0.25	Director	$0	$0	$0
MATT MARCELLIS	TRUSTEE	0.25	Director	$0	$0	$0
CHARLIE FALKNER	SECRETARY/TREASURER	0.25	Officer Director	$0	$109,065	$235,505
JOHN RAUCH	TRUSTEE	0.25	Director	$0	$7,030	$17,514

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	$23,026,968	$20,791,908	$52,948,314	$2,235,060
2024	$21,162,693	$20,119,636	$51,246,387	$1,043,057
2023	$18,782,571	$20,642,231	$47,199,363	$-1,859,660
2022	$20,356,185	$16,239,801	$49,277,727	$4,116,384
2021	$16,246,941	$13,326,668	$52,730,192	$2,920,273
2020	$16,080,708	$14,307,160	$46,222,246	$1,773,548
2019	$16,547,165	$13,675,066	$42,577,925	$2,872,099
2018	$16,038,887	$15,525,084	$39,625,666	$513,803

IRON WORKERS LOCAL 8 WELFARE FUND