Iron Workers Welfare Fund (EIN 720506999) - 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

Luke Waggenspack

Phone

7132191299

Tax Period

2024-08-01 to 2025-07-31

Iron Workers Welfare Fund, founded in 1958, is a community nonprofit that reported $5.8M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $5.3M left a modest 10% surplus.

Mission

To provide health and welfare 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,381,233

Investment Income $454,460

Other Revenue $9,677

TOTAL REVENUE $5,845,370

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $706,920

TOTAL EXPENSES $5,261,891

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,845,370	$7,014,768	-0.2%
Expenses	$5,261,891	$4,996,425	+0.1%
Net Income	$583,479	$2,018,343	-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

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
John Gandy	Employer Trustee - Co-Chai	1.00	Director	$0	$0	$0
Luke Waggenspack	Union Trustee, Co-Chairman	1.00	Director	$0	$0	$0
Walter Ashford	Employer Trustee	1.00	Director	$0	$0	$0
Josh Sonnier	Union Trustee	1.00	Director	$0	$0	$0
Lovis Moomey	Union Trustee	1.00	Director	$0	$0	$0
Dave Bennett	Employer Trustee	1.00	Director	$0	$0	$0
Eric Lemley	Union Trustee	1.00	Director	$0	$0	$0
Randy Sudik	Employer Trustee	1.00	Director	$0	$0	$0
Neal McCleary	Employer 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	$5,845,370	$5,261,891	$14,800,125	$583,479
2024	$7,014,768	$4,996,425	$13,911,237	$2,018,343
2023	$6,406,686	$5,260,023	$11,729,896	$1,146,663
2022	$4,698,956	$4,862,923	$10,768,586	$-163,967
2021	$2,662,563	$3,230,783	$11,053,459	$-568,220
2020	$3,010,175	$2,361,219	$10,263,473	$648,956
2019	$3,760,660	$3,999,130	$9,761,895	$-238,470
2018	$3,571,523	$4,011,592	$9,511,480	$-440,069

Iron Workers Welfare Fund