DES MOINES IRON WORKERS WELFARE FU… - Form 990 Financial Data

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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

1956

Legal Domicile

Principal Officer

JOSEPH DURBY

Phone

5152824293

Tax Period

2024-12-01 to 2025-11-30

DES MOINES IRON WORKERS WELFARE FUND, founded in 1956, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.1M, a strong 21% operating margin.

Mission

PROVIDE HEALTH & WELFARE BENEFITS FOR MEMBERS AND DEPENDENTS OF THE PLAN. THE PLAN IS A COLLECTIVELY BARGAINED, MULTIEMPLOYER PLAN.

Program Service Accomplishments

Program 1

Expenses: $3,716,063

TO PROVIDE HEALTH CARE BENEFITS TO QUALIFIED PARTICIPANTS AND THEIR DEPENDENTS IN THE IOWA CONSTRUCTION INDUSTRY.

Program 2

Expenses: $186,492

TO PROVIDE DENTAL AND VISION BENEFITS TO PARTICIPANTS AND THEIR DEPENDENTS.

Program 3

Expenses: $20,130

TO PROVIDE SHORT-TERM DISABILITY BENEFITS TO QUALIFYING PARTICIPANTS THAT HAVE BEEN INJURED AND ARE NOT ABLE TO WORK.

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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 $3,886,700

Investment Income $1,108,724

Other Revenue $0

TOTAL REVENUE $4,995,424

Expense Breakdown

Grants Paid $0

Salaries & Benefits $64,090

Fundraising Expenses $0

Program Expenses $3,922,685

Other Expenses $201,815

TOTAL EXPENSES $3,922,685

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,995,424	$4,391,214	+0.1%
Expenses	$3,922,685	$3,837,360	+0.0%
Net Income	$1,072,739	$553,854	+0.9%

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

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

Total Directors

$2,891

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEN NIZZI	TRUSTEE	2.00	Director	$1,552	$0	$1,552
MASON MCGAFFIN	TRUSTEE	2.00	Director	$1,339	$0	$1,339
BRAD CHURCHILL	TRUSTEE/CHAI	2.00	Officer Director	$0	$0	$0
JOSEPH DURBY	TRUSTEE/SECR	2.00	Officer Director	$0	$0	$0
STEVE FANGMAN	TRUSTEE	1.00	Director	$0	$0	$0
SHAUN O'TOOL	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
2025	$4,995,424	$3,922,685	$17,243,798	$1,072,739
2024	$4,391,214	$3,837,360	$15,863,120	$553,854
2023	$4,140,721	$3,402,957	$13,984,682	$737,764
2022	$4,605,006	$3,936,056	$13,230,402	$668,950
2021	$4,619,414	$4,294,835	$14,722,738	$324,579
2020	$4,981,397	$4,110,107	$13,903,712	$871,290
2019	$4,793,806	$3,994,395	$12,345,361	$799,411
2018	$4,795,456	$4,398,612	$10,550,101	$396,844

DES MOINES IRON WORKERS WELFARE FUND