PIPE TRADES SERVICES MN WELFARE FUND

EIN: 410761972

WHITE BEAR LAKE, MN

Total Revenue
$140,356,260
Total Expenses
$132,732,539
Total Assets
$111,703,571
Net Assets
$111,614,594
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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
1955
Legal Domicile
MN
Principal Officer
JEREMY MILLER
Phone
6516454540
Tax Period
2024-05-01 to 2025-04-30

PIPE TRADES SERVICES MN WELFARE FUND, founded in 1955, is a major nonprofit that reported $140.4M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $132.7M left a modest 5% surplus.

Mission

TO PROVIDE ELIGIBLE PIPE TRADES MEMBERS AND THEIR DEPENDENTS WITH HEALTH AND WELFARE BENEFITS.

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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 $136,510,718
Investment Income $3,862,512
Other Revenue $-16,970
TOTAL REVENUE $140,356,260

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $16,275,706
TOTAL EXPENSES $132,732,539

Year-over-Year Comparison

2024 2023 Change
Revenue $140,356,260 $127,795,458 +0.1%
Expenses $132,732,539 $121,437,904 +0.1%
Net Income $7,623,721 $6,357,554 +0.2%
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
10
Independent Members
10
Employees
N/A
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
3
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEREMY MILLER CHAIR (EFF MAR. 2025) 2.00
Officer Director
$0 $0 $0
MATT MARQUIS CO-CHAIR (EFF MAR. 2025) 2.00
Officer Director
$0 $0 $0
GARY THADEN CO-CHAIR (THRU FEB. 2025) 2.00
Officer Director
$0 $0 $0
SAM ARNOLD TRUSTEE 2.00
Director
$0 $0 $0
DOUG JONES TRUSTEE 2.00
Director
$0 $0 $0
JOE LANE TRUSTEE 2.00
Director
$0 $0 $0
BRYAN NORMAN TRUSTEE 2.00
Director
$0 $0 $0
JAKE PETTIT TRUSTEE 2.00
Director
$0 $0 $0
SCOTT SEATH TRUSTEE 2.00
Director
$0 $0 $0
SOPHIE THADEN TRUSTEE (EFF FEB. 2025) 2.00
Director
$0 $0 $0
MIKE TIEVA 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 $140,356,260 $132,732,539 $111,703,571 $7,623,721
2024 $127,795,458 $121,437,904 $101,893,763 $6,357,554
2023 $117,150,816 $121,667,996 $94,537,655 $-4,517,180
2022 $111,286,740 $119,456,088 $103,560,351 $-8,169,348
2021 $108,617,463 $107,032,992 $124,255,702 $1,584,471
2020 $108,292,234 $109,896,129 $115,408,452 $-1,603,895
2019 $96,249,660 $101,340,395 $111,468,405 $-5,090,735
2018 $94,039,516 $99,979,291 $112,611,198 $-5,939,775
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