PLUMBERS' LOCAL UNION NO 68 WELFARE FUND

EIN: 746038640

HOUSTON, TX

Total Revenue
$25,755,719
Total Expenses
$30,132,773
Total Assets
$14,155,898
Net Assets
$-7,335,345
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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
1959
Legal Domicile
TX
Principal Officer
WILLIAM VENABLE II
Phone
7138692592
Tax Period
2024-07-01 to 2025-06-30

PLUMBERS' LOCAL UNION NO 68 WELFARE FUND, founded in 1959, is a mid-sized nonprofit that reported $25.8M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $30.1M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE HEALTH CARE BENEFITS TO MEMBERS WORKING UNDER THE COLLECTIVE BARGAINING AGREEMENT OF LOCAL 68.

Program Service Accomplishments

Program 1
Expenses: $29,317,661 Revenue: $25,755,719

TO PROVIDE HEALTH CARE BENEFITS TO MEMBERS WORKING UNDER THE COLLECTIVE BARGAINING AGREEMENT OF LOCAL 68.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $20,817,143
Investment Income $692,070
Other Revenue $4,246,506
TOTAL REVENUE $25,755,719

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $29,317,661
Other Expenses $7,147,081
TOTAL EXPENSES $30,132,773

Year-over-Year Comparison

2024 2023 Change
Revenue $25,755,719 $21,306,133 +0.2%
Expenses $30,132,773 $21,553,828 +0.4%
Net Income $-4,377,054 $-247,695 +16.7%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
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
0
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRIS HUMPHREY TRUSTEE 2.00
Director
$0 $0 $0
CURTIS HARBOUR TRUSTEE 2.00
Director
$0 $0 $0
CHATO WOODARD TRUSTEE 2.00
Director
$0 $0 $0
TONY MCCORVEY JR TRUSTEE 2.00
Director
$0 $0 $0
CHARLES FELL TRSUTEE 2.00
Director
$0 $0 $0
WILLIAM VENABLE II SEC/TRUSTEE 2.00
Director
$0 $0 $0
JEFF LABROSKI TRUSTEE 2.00
Director
$0 $0 $0
WAYNE LORD 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
2025 $25,755,719 $30,132,773 $14,155,898 $-4,377,054
2024 $21,306,133 $21,553,828 $13,178,620 $-247,695
2023 $18,821,434 $20,778,345 $12,926,837 $-1,956,911
2022 $15,978,096 $16,208,047 $14,202,364 $-229,951
2021 $15,954,972 $18,786,957 $14,578,428 $-2,831,985
2020 $17,115,877 $17,661,644 $17,415,239 $-545,767
2019 $18,152,669 $19,722,588 $18,181,510 $-1,569,919
2018 $18,115,473 $18,471,424 $19,520,869 $-355,951
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