Steamfitters Local Union No 614 Health and Welfare Fund (EIN 620637976) - 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

1960

Legal Domicile

Principal Officer

Ben Snyder

Phone

6158590131

Tax Period

2024-04-01 to 2025-03-31

Steamfitters Local Union No 614 Health and Welfare Fund, founded in 1960, is a community nonprofit that reported $9.8M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $8.5M left a modest 13% surplus.

Mission

Provide group life, accidental death and dismemberment insurance and major medical, dental, and vision benefits for eligible participants and their dependents.

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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 $9,499,743

Investment Income $299,850

Other Revenue $219

TOTAL REVENUE $9,799,812

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $861,164

TOTAL EXPENSES $8,511,848

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,799,812	$11,148,936	-0.1%
Expenses	$8,511,848	$8,474,253	+0.0%
Net Income	$1,287,964	$2,674,683	-0.5%

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
Ben Snyder	Union Trustee	1.00	Director	$0	$0	$0
Jeff Taylor	Union Trustee	1.00	Director	$0	$0	$0
Scott Atkins	Union Trustee	1.00	Director	$0	$0	$0
David W Sink Jr	Management Trustee	1.00	Director	$0	$0	$0
James Estabrook	Management Trustee	1.00	Director	$0	$0	$0
John Jerkins	Management 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
2025	$9,799,812	$8,511,848	$14,167,844	$1,287,964
2024	$11,148,936	$8,474,253	$12,107,535	$2,674,683
2023	$8,309,019	$7,624,738	$8,324,868	$684,281
2022	$7,338,245	$7,835,407	$7,419,659	$-497,162
2021	$6,943,418	$6,723,227	$7,551,759	$220,191
2020	$7,580,024	$8,075,664	$8,401,501	$-495,640
2019	$7,083,627	$4,855,512	$8,207,035	$2,228,115
2018	$7,036,817	$6,041,285	$6,291,083	$995,532

Steamfitters Local Union No 614 Health and Welfare Fund