WELFARE FUND OF ENGINEERS LOCAL UN… - 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

1966

Legal Domicile

Principal Officer

BRIAN GRAFF

Phone

3147392973

Tax Period

2024-05-01 to 2025-04-30

WELFARE FUND OF ENGINEERS LOCAL UNION 513, founded in 1966, is a mid-sized nonprofit that reported $75.7M in total revenue in fiscal year 2024. Expenses of $67.4M left a modest 11% surplus.

Mission

THE PLAN PROVIDES MEDICAL, DENTAL, VISION, ACCIDENT AND DEATH BENEFITS TO PARTICIPANTS OF LOCAL 513 OPERATING ENGINEERS UNION.

Program Service Accomplishments

Program 1

THE PLAN PROVIDES MEDICAL, DENTAL, VISION, ACCIDENT AND DEATH BENEFITS TO PARTICIPANTS OF LOCAL 513 OPERATING ENGINEERS UNION

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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 $70,788,109

Investment Income $4,911,697

Other Revenue $0

TOTAL REVENUE $75,699,806

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,462,043

TOTAL EXPENSES $67,444,517

Year-over-Year Comparison

	2024	2023	Change
Revenue	$75,699,806	$71,311,395	+0.1%
Expenses	$67,444,517	$63,833,832	+0.1%
Net Income	$8,255,289	$7,477,563	+0.1%

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

Governance

Voting Members

Independent Members

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN GRAFF	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CHARLIE GOODWIN	SECRETARY	1.00	Director	$0	$0	$0
STEVE STRAATMANN	TRUSTEE	1.00	Director	$0	$0	$0
JOHN GRIB	TRUSTEE	1.00	Director	$0	$0	$0
JEREMY BENNET	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW ENLOE	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	$75,699,806	$67,444,517	$147,229,794	$8,255,289
2024	$71,311,395	$63,833,832	$133,055,377	$7,477,563
2023	$64,209,446	$55,813,298	$120,827,202	$8,396,148
2022	$59,012,393	$51,180,379	$114,642,323	$7,832,014
2021	$54,386,850	$44,559,226	$114,091,617	$9,827,624
2020	$53,710,363	$46,307,059	$97,520,252	$7,403,304
2019	$52,764,010	$45,562,366	$91,085,726	$7,201,644
2018	$51,101,637	$43,120,999	$84,435,053	$7,980,638

WELFARE FUND OF ENGINEERS LOCAL UNION 513