IRON WORKERS LOCAL 8 WELFARE FUND

EIN: 390855190

OAK BROOK, IL

Total Revenue
$23,026,968
Total Expenses
$20,791,908
Total Assets
$52,948,314
Net Assets
$51,304,468
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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
WI
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 ACCIDENT, HEALTH, DENTAL, VISION, LOSS OF TIME, PRESCRIPTION DRUG, AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS, SPOUSES AND DEPENDENTS.

Program Service Accomplishments

Program 1

TO PROVIDE ACCIDENT, HEALTH, DENTAL, VISION, LOSS OF TIME, PRESCRIPTION DRUG, AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS, SPOUSES AND DEPENDENTS.

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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 $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

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Governance

Voting Members
8
Independent Members
4
Employees
48
Volunteers
8

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
$235,505
Total Directors
8
$674,065
Key Employees
0
$0
Highest Compensated
0
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
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