PLUMBERS' & PIPEFITTERS' WELFARE EDUCATIONAL FUND (EIN 430657966) - 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

1951

Legal Domicile

Principal Officer

MARK J COLLOM

Phone

3143551000

Tax Period

2024-01-01 to 2024-12-31

PLUMBERS' & PIPEFITTERS' WELFARE EDUCATIONAL FUND, founded in 1951, is a mid-sized nonprofit that reported $93.4M in total revenue in fiscal year 2024. Expenses of $83.6M left a modest 10% surplus.

Mission

PROVIDE HEALTH & RELATED BENEFITS TO MEMBERS OF PLUMBERS AND PIPEFITTERS LOCAL 562

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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 $84,053,955

Investment Income $7,735,631

Other Revenue $1,609,761

TOTAL REVENUE $93,399,347

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,080,770

Fundraising Expenses $0

Program Expenses $64,903,096

Other Expenses $8,618,920

TOTAL EXPENSES $83,602,786

Year-over-Year Comparison

	2024	2023	Change
Revenue	$93,399,347	$87,205,655	+0.1%
Expenses	$83,602,786	$83,515,326	+0.0%
Net Income	$9,796,561	$3,690,329	+1.7%

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

917

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

$400,542

Total Directors

$32,348

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES J MURPHY JR	TRUSTEE	5.00	Director	$0	$0	$0
JOHN J O'MARA	TRUSTEE - SEE SCHEDULE O	5.00	Director	$5,568	$0	$5,568
MARK V MORGAN	TRUSTEE - SEE SCHEDULE O	5.00	Director	$5,568	$0	$5,568
DAN LAUGHLIN	TRUSTEE - SEE SCHEDULE O	5.00	Director	$4,508	$0	$4,508
BRIAN NICHOLS	TRUSTEE - SEE SCHEDULE O	5.00	Director	$5,568	$0	$5,568
RICHARD M KELLETT	TRUSTEE - SEE SCHEDULE O	5.00	Director	$5,568	$0	$5,568
NEIL G HABERBERGER	TRUSTEE	5.00	Director	$0	$0	$0
JOHN DELUCA	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL J O'CONNELL III	TRUSTEE - SEE SCHEDULE O	5.00	Director	$5,568	$0	$5,568
DENNIS CORRIGAN	TRUSTEE	5.00	Director	$0	$0	$0
MARK J COLLOM	EXECUTIVE DIRECTOR	70.00	Officer	$192,991	$47,174	$240,165
MICHAEL V HEPBURN	CERTIFIED FINANCIAL OFFICE	50.00	Officer	$132,300	$28,077	$160,377
KEVIN J O'MARA	DIRECTOR OF TRAINING	60.00	Highest	$174,391	$31,343	$205,734
MARTIN B MCCLIMENS	INSTRUCTOR	56.00	Highest	$157,454	$30,728	$188,182
THOMAS MADDEN	INSTRUCTOR	46.00	Highest	$142,063	$28,673	$170,736
PAUL GALLAGHER	INSTRUCTOR	45.00	Highest	$138,128	$28,087	$166,215
SCOTT KIELY	INSTRUCTOR	45.00	Highest	$135,968	$27,863	$163,831

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	$93,399,347	$83,602,786	$203,907,806	$9,796,561
2023	$87,205,655	$83,515,326	$189,373,785	$3,690,329
2022	$78,005,443	$76,812,869	$175,996,074	$1,192,574
2021	$76,844,110	$73,334,512	$197,361,797	$3,509,598
2020	$69,816,854	$73,339,960	$184,567,017	$-3,523,106
2019	$75,679,051	$76,068,169	$186,049,364	$-389,118
2018	$73,817,803	$74,580,849	$172,297,918	$-763,046

PLUMBERS' & PIPEFITTERS' WELFARE EDUCATIONAL FUND