PLUMBERS & PIPEFITTERS LOCAL UNION… - 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

1990

Legal Domicile

Principal Officer

TERRENCE SHANNON

Phone

3027622008

Tax Period

2023-01-01 to 2023-12-31

PLUMBERS & PIPEFITTERS LOCAL UNION 74 WELFARE FUND, founded in 1990, is a mid-sized nonprofit that reported $13.6M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

TRUST PROVIDES THE FOLLOWING BENEFITS: HEALTH CARE, DENTAL, DISABILITY, AND PRESCRIPTION TO PLAN PARTICIPANTS.

Program Service Accomplishments

Program 1

PROGRAM IS MAINTAINED FOR THE PURPOSE OF PROVIDING FOR THE PARTICIPANTS OR THEIR BENEFICIARIES HEALTH CARE. APPROXIMATE NUMBER OF PERSONS COVERED AS OF THE END OF THE PLAN YEAR IS 936.

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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 $13,586,845

Investment Income $-3,696

Other Revenue $0

TOTAL REVENUE $13,583,149

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $698,019

TOTAL EXPENSES $14,235,879

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,583,149	$10,945,789	+0.2%
Expenses	$14,235,879	$11,636,880	+0.2%
Net Income	$-652,730	$-691,091	-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

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
MICHAEL B HACKENDORN	TRUSTEE	2.00	Director	$0	$0	$0
ANTHONY PAPILI	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL S PEET	TRUSTEE	2.00	Director	$0	$0	$0
KYLE SPENCE	TRUSTEE	2.00	Director	$0	$0	$0
JEFFREY A SILL	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTOPHER MUNTZ	TRUSTEE	2.00	Director	$0	$0	$0
CHARLES EGAN	TRUSTEE	2.00	Director	$0	$0	$0
TERRENCE SHANNON	TRUSTEE	2.00	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	$13,583,149	$14,235,879	$20,893,059	$-652,730
2022	$10,945,789	$11,636,880	$19,962,353	$-691,091
2021	$11,989,715	$12,566,687	$22,447,900	$-576,972
2020	$11,874,939	$11,454,855	$22,272,006	$420,084
2019	$14,671,815	$12,576,427	$21,685,242	$2,095,388
2018	$11,353,255	$12,529,605	$18,917,111	$-1,176,350

PLUMBERS & PIPEFITTERS LOCAL UNION 74 WELFARE FUND