CARPENTERS AND JOINERS WELFARE FUND (EIN 416024791) - 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

1960

Legal Domicile

Principal Officer

PATRICK NILSEN

Phone

9528540795

Tax Period

2023-01-01 to 2023-12-31

CARPENTERS AND JOINERS WELFARE FUND, founded in 1960, is a major nonprofit that reported $256.9M in total revenue in fiscal year 2023. Expenses of $234.0M left a modest 9% surplus.

Mission

PROVIDE HEALTH AND WELFARE BENEFITS PURSUANT TO A COLLECTIVE BARGAINING AGREEMENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $251,966,672

Investment Income $4,975,360

Other Revenue $0

TOTAL REVENUE $256,942,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $5,524,615

TOTAL EXPENSES $234,047,339

Year-over-Year Comparison

	2023	2022	Change
Revenue	$256,942,032	$261,890,084	0.0%
Expenses	$234,047,339	$225,512,340	+0.0%
Net Income	$22,894,693	$36,377,744	-0.4%

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

N/A

Employees

N/A

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

$486,183

Total Directors

$2,647,499

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK NILSEN	UNION TRUSTEE, SECRETARY	1.00	Officer Director	$0	$166,255	$486,183
PETER DONNINO	MGT TRUSTEE	1.00	Director	$0	$0	$0
MARTHA HENRICKSON	MGT TRUSTEE/ALTERNATE	1.00	Director	$0	$0	$0
BURT JOHNSON	UNION TRUSTEE	1.00	Director	$0	$132,692	$357,963
JOHN NESSE	MGT TRUSTEE, CHAIRMAN	1.00	Officer Director	$0	$0	$0
SHAWN COTTER	MGT TRUSTEE/ALTERNATE	1.00	Director	$0	$0	$0
RYAN PECINVOSKY	UNION TRUSTEE/ALTERNATE	1.00	Director	$0	$92,082	$210,464
SHAUN COATES	UNION TRUSTEE	1.00	Director	$0	$95,670	$214,052
COREY BIALCIK	UNION TRUSTEE/ALTERNATE	1.00	Director	$0	$105,601	$263,464
MIKE SCHECHTER	MGT TRUSTEE/ALTERNATE	1.00	Director	$0	$0	$0
AMY THOMPSON	MGT TRUSTEE	1.00	Director	$0	$0	$0
RICHARD KOLODZIEJSKI	UNION TRUSTEE/ALTERNATE	1.00	Director	$0	$98,950	$241,571
DOMINIC ANDRIST	UNION TRUSTEE	1.00	Director	$0	$108,897	$266,760
JOE CONROY	MGT TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW MARCELLIS	MGT TRUSTEE/ALTERNATE	1.00	Director	$0	$0	$0
DIEGO MORALES	UNION TRUSTEE/ALTERNATE	1.00	Director	$0	$91,724	$209,640
AMANDA HEISER	UNION TRUSTEE/ALTERNATE	1.00	Director	$0	$25,753	$58,381
WAYNE NORDIN	UNION TRUSTEE	1.00	Director	$0	$131,071	$339,021
MARK KESSENICH	MGT 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	No data	No data	No data	No data
2023	$256,942,032	$234,047,339	$341,734,795	$22,894,693
2022	$261,890,084	$225,512,340	$304,862,000	$36,377,744
2021	$228,602,525	$214,327,235	$314,491,427	$14,275,290
2020	$215,050,740	$222,605,214	$288,314,878	$-7,554,474
2019	$281,339,396	$224,714,864	$285,248,297	$56,624,532
2018	$191,579,057	$153,309,238	$202,160,177	$38,269,819

CARPENTERS AND JOINERS WELFARE FUND