HEATING PIPING AND REFRIGERATION M… - 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

1950

Legal Domicile

Principal Officer

CHRIS MADELLO

Phone

8006182878

Tax Period

2023-01-01 to 2023-12-31

HEATING PIPING AND REFRIGERATION MEDICAL FUND, founded in 1950, is a mid-sized nonprofit that reported $79.5M in total revenue in fiscal year 2023. Expenses of $76.4M left a modest 4% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO PLAN PARTICIPANTS.

Program Service Accomplishments

Program 1

Expenses: $68,699,460

THE PLAN PROVIDES HEALTH AND WELFARE BENEFITS PAID TO OR FOR PARTICIPANTS AND THEIR DEPENDENTS. THE EXEMPT PURPOSE OF THE PLAN IS TO PROVIDE PARTICIPANTS WITH SUCH BENEFITS.

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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 $77,932,796

Investment Income $1,567,659

Other Revenue $0

TOTAL REVENUE $79,500,455

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $68,699,460

Other Expenses $7,729,203

TOTAL EXPENSES $76,428,663

Year-over-Year Comparison

	2023	2022	Change
Revenue	$79,500,455	$76,345,208	+0.0%
Expenses	$76,428,663	$66,122,658	+0.2%
Net Income	$3,071,792	$10,222,550	-0.7%

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

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

$848,747

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS MADELLO	TRUSTEE	1.0	Director	$0	$109,451	$308,159
SIDNEY BONILLA	TRUSTEE	1.0	Director	$0	$103,809	$271,259
TIMOTHY BIGGS	TRUSTEE	1.0	Director	$0	$103,809	$269,329
TOM BELLO	TRUSTEE	1.0	Director	$0	$0	$0
MATTHEW CORRIGAN	TRUSTEE	1.0	Director	$0	$0	$0
CAREY DOVE	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
2024	No data	No data	No data	No data
2023	$79,500,455	$76,428,663	$125,606,764	$3,071,792
2022	$76,345,208	$66,122,658	$114,168,802	$10,222,550
2021	$74,142,876	$63,758,315	$114,168,064	$10,384,561
2020	$71,059,620	$58,683,138	$100,372,335	$12,376,482
2019	$70,392,713	$63,523,162	$82,409,501	$6,869,551
2018	$65,769,954	$59,636,386	$73,099,795	$6,133,568

HEATING PIPING AND REFRIGERATION MEDICAL FUND