Plumbers Local 521 Health & Welfar… - 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

1964

Legal Domicile

Principal Officer

George A Kisor

Phone

3045250331

Tax Period

2023-10-01 to 2024-09-30

Plumbers Local 521 Health & Welfare Fund, founded in 1964, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $810K, a strong 25% operating margin.

Mission

The purpose of the Trust Fund is to receive, preserve and invest contributions made by the employers as required by collective bargaining agreements, as well as direct employee payments, and to provide health and welfare beneftis for eligible participants.

Program Service Accomplishments

Program 1

Expenses: $2,401,212

Area-wide, union-negotiated, union/managment trusteed health & welfare fund.

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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 $3,189,687

Investment Income $92,266

Other Revenue $5,273

TOTAL REVENUE $3,287,226

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,401,212

Other Expenses $313,439

TOTAL EXPENSES $2,477,596

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,287,226	$2,859,187	+0.1%
Expenses	$2,477,596	$2,856,096	-0.1%
Net Income	$809,630	$3,091	+260.9%

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

$179,402

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
George A Kisor	Trustee	1.00	Director	$0	$81,605	$174,311
Scott Knipp	Trustee	1.00	Director	$0	$1,565	$5,091
Frank R Ferguson	Trustee	1.00	Director	$0	$0	$0
James L Johnson	Trustee	1.00	Director	$0	$0	$0
Jackie Wilson	Trustee	1.00	Director	$0	$0	$0
Phillip S Johnson	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
2024	$3,287,226	$2,477,596	$4,221,329	$809,630
2023	$2,859,187	$2,856,096	$3,096,254	$3,091
2022	$2,592,112	$2,644,534	$3,063,554	$-52,422
2021	$2,553,277	$2,660,090	$3,492,582	$-106,813
2020	$2,031,844	$2,694,788	$3,588,835	$-662,944
2019	$2,904,995	$2,499,846	$4,122,242	$405,149
2018	$2,481,960	$2,597,169	$3,546,891	$-115,209

Plumbers Local 521 Health & Welfare Fund