IRON WORKERS LOCALS 549 & 550 MEDICAL & BENEFIT FUND

EIN: 510168650 Mutual Benefit

ONA, WV

Total Revenue
$12,689,971
Total Expenses
$10,585,272
Total Assets
$17,203,695
Net Assets
$15,444,105
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
WV
Principal Officer
KEVIN COULTER
Phone
3043999010
Tax Period
2024-04-01 to 2025-03-31

IRON WORKERS LOCALS 549 & 550 MEDICAL & BENEFIT FUND, founded in 1975, is a mid-sized nonprofit in the Mutual Benefit sector that reported $12.7M in total revenue in fiscal year 2024. The organization ran a surplus of $2.1M, a strong 17% operating margin.

Mission

THE TRUST IS CREATED, ESTABLISHED AND MAINTAINED, (AND THE TRUSTEES AGREE TO RECEIVE, HOLD, AND ADMINISTER), TO PROVIDE BENEFITS FOR MEMBERS AND THEIR BENEFICIARIES IN ACCORDANCE WITH THE PLAN DOCUMENT.

Program Service Accomplishments

Program 1
Expenses: $10,585,272

TO PROVIDE BENEFITS FOR MEMBERS AND THEIR BENEFICIARIES IN ACCORDANCE WITH THE PLAN DOCUMENT.

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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 $11,443,345
Investment Income $1,246,626
Other Revenue $0
TOTAL REVENUE $12,689,971

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $10,585,272
Other Expenses $978,369
TOTAL EXPENSES $10,585,272

Year-over-Year Comparison

2024 2023 Change
Revenue $12,689,971 $12,445,760 +0.0%
Expenses $10,585,272 $11,496,226 -0.1%
Net Income $2,104,699 $949,534 +1.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial 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
15
Independent Members
7
Employees
N/A
Volunteers
15

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
2
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC STARKOWICZ EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
GEOFF NICELY EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
JIM CHAPMAN EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
LORI SCOTT EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
TOM DULIN EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
STEVE CAFARO ALTERNATE EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
SHAWN MCCARTNEY EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
KEVIN COULTER CO-CHAIRMAN/EMPLOYEE TRUST 0.50
Officer Director
$0 $0 $0
KELLY DIERKES EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
SCOTT ALLEMAN EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
GARY FELGENHAUER EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
CHAD JORDAN ALTERNATE EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
BENJAMIN STRIMEL ALTERNATE EMPLOYEE TRUSTEE 0.50
Director
$0 $0 $0
TOM LISTON EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
SEAN DIEKMANN CO-CHAIRMAN/EMPLOYEE TRUST 0.50
Officer 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 $12,689,971 $10,585,272 $17,203,695 $2,104,699
2024 $12,445,760 $11,496,226 $15,535,045 $949,534
2023 $10,746,923 $9,892,207 $13,711,104 $854,716
2022 $11,059,495 $10,408,508 $13,260,484 $650,987
2021 $9,826,274 $9,285,176 $12,782,578 $541,098
2020 $10,960,542 $10,058,717 $11,681,392 $901,825
2019 $11,323,448 $10,182,230 $10,888,491 $1,141,218
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