PLUMBERS & STEAMFITTERS LOCAL 247 HEALTH & WELFARE FUND (EIN 726041321) - 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

1968

Legal Domicile

Principal Officer

STEVEN BABB

Phone

6158590131

Tax Period

2024-01-01 to 2024-12-31

PLUMBERS & STEAMFITTERS LOCAL 247 HEALTH & WELFARE FUND, founded in 1968, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $2.4M left a modest 15% surplus.

Mission

TO PROVIDE HEALTH, DENTAL, VISION, TEMPORARY DISABILITY, AND LIFE INSURANCE BENEFITS TO 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 $2,476,795

Investment Income $315,574

Other Revenue $25,479

TOTAL REVENUE $2,817,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $547,732

TOTAL EXPENSES $2,407,237

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,817,848	$3,172,192	-0.1%
Expenses	$2,407,237	$2,314,951	+0.0%
Net Income	$410,611	$857,241	-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

Employees

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
STEVEN BABB	CHAIRMAN	2.00	Officer Director	$0	$0	$0
CARY PRESTRIDGE	SECRETARY	2.00	Officer Director	$0	$0	$0
LAYNE AYMOND	TRUSTEE	2.00	Director	$0	$0	$0
MIKE MARTIN	TRUSTEE	2.00	Director	$0	$0	$0
GABRIEL SUMNER	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	$2,817,848	$2,407,237	$7,359,693	$410,611
2023	$3,172,192	$2,314,951	$6,840,877	$857,241
2022	$2,522,728	$2,291,395	$5,987,572	$231,333
2021	$1,869,033	$2,113,624	$5,548,513	$-244,591
2020	$2,131,800	$2,059,129	$5,191,784	$72,671
2019	$2,742,021	$1,738,681	$5,073,803	$1,003,340
2018	$1,876,075	$1,282,081	$4,024,524	$593,994

PLUMBERS & STEAMFITTERS LOCAL 247 HEALTH & WELFARE FUND