Iron Workers Trust Fund Local No 5 Washington DC Welfare Fund (EIN 526057762) - 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

GARY ARMSTRONG

Phone

2064417574

Tax Period

2024-07-01 to 2025-06-30

Iron Workers Trust Fund Local No 5 Washington DC Welfare Fund, founded in 1951, is a mid-sized nonprofit that reported $14.7M in total revenue in fiscal year 2024. Expenses of $16.9M exceeded revenue, resulting in a 16% operating deficit.

Mission

PROVIDE HEALTH BENEFITS TO UNION EMPLOYEES COVERED BY A COLLECTIVE BARGAINING AGREEMENT.

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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 $13,097,532

Investment Income $1,556,086

Other Revenue $0

TOTAL REVENUE $14,653,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $849,005

TOTAL EXPENSES $16,943,103

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,653,618	$14,032,036	+0.0%
Expenses	$16,943,103	$11,248,791	+0.5%
Net Income	$-2,289,485	$2,783,245	-1.8%

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
Aaron Bast	TRUSTEE	1.0	Director	$0	$0	$0
Gary Armstrong	TRUSTEE	1.0	Director	$0	$0	$0
Raymond Cleland	TRUSTEE	1.0	Director	$0	$0	$0
Vic Cornellier	TRUSTEE	1.0	Director	$0	$0	$0
Carlos Portillo	TRUSTEE	1.0	Director	$0	$0	$0
Curt Johnson	TRUSTEE	1.0	Director	$0	$0	$0
Bill Heinold	TRUSTEE	1.0	Director	$0	$0	$0
Ken Wood	TRUSTEE	1.0	Director	$0	$0	$0
Chris Morgret	TRUSTEE	1.0	Director	$0	$0	$0
Randy Gardner	Trustee	1.0	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	$14,653,618	$16,943,103	$61,216,419	$-2,289,485
2024	$14,032,036	$11,248,791	$58,209,992	$2,783,245
2023	$14,432,146	$19,629,067	$52,451,908	$-5,196,921
2022	$14,839,235	$12,589,769	$47,437,637	$2,249,466
2021	$14,719,245	$11,691,948	$48,333,170	$3,027,297
2020	$24,917,491	$9,803,690	$43,565,413	$15,113,801
2019	$14,378,839	$8,554,877	$27,899,060	$5,823,962
2018	$15,855,685	$9,031,114	$21,548,666	$6,824,571

Iron Workers Trust Fund Local No 5 Washington DC Welfare Fund