PLUMBERS AND PIPEFITTERS LOCAL 123 WELFARE FUND (EIN 596134275) - 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

1958

Legal Domicile

Principal Officer

KARLA BOATWRIGHT

Phone

9542666322

Tax Period

2023-01-01 to 2023-12-31

PLUMBERS AND PIPEFITTERS LOCAL 123 WELFARE FUND, founded in 1958, is a community nonprofit that reported $6.8M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 18% operating margin.

Mission

TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 $6,463,605

Investment Income $354,889

Other Revenue $13,514

TOTAL REVENUE $6,832,008

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $382,071

TOTAL EXPENSES $5,592,516

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,832,008	$5,693,021	+0.2%
Expenses	$5,592,516	$4,909,341	+0.1%
Net Income	$1,239,492	$783,680	+0.6%

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

$359,683

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD CRANKER	TRUSTEE	2.00	Director	$0	$63,718	$180,977
KARLA BOATRIGHT	TRUSTEE	2.00	Director	$0	$63,264	$178,706
CLIFFORD MAY	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN MATTHEW	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL COMBER	TRUSTEE - PAST	2.00	Director	$0	$0	$0
DAVID BUSHEA	TRUSTEE	2.00	Director	$0	$0	$0
CRAIG CALLEY	TRUSTEE	2.00	Director	$0	$0	$0
ERIC ACKERMAN	TRUSTEE	2.00	Director	$0	$0	$0
TOM MCLAIN	TRUSTEE - PAST	2.00	Director	$0	$0	$0
JEROMY HARRIS	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	$6,832,008	$5,592,516	$15,208,705	$1,239,492
2022	$5,693,021	$4,909,341	$13,144,692	$783,680
2021	$6,651,358	$4,171,894	$13,848,686	$2,479,464
2020	$6,139,222	$5,389,430	$11,353,807	$749,792
2019	$6,609,450	$4,742,321	$10,622,312	$1,867,129
2018	$5,521,595	$4,714,703	$8,739,617	$806,892

PLUMBERS AND PIPEFITTERS LOCAL 123 WELFARE FUND