IRON WORKERS WELFARE FUND

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2016

Legal Domicile

Principal Officer

JOHN BIELAK

Phone

2023834800

Tax Period

2023-01-01 to 2023-03-01

IRON WORKERS WELFARE FUND, founded in 2016, is a micro nonprofit that reported $97K in total revenue in fiscal year 2023. Revenue fell 95% from the prior year — a significant decline worth monitoring. Expenses of $284K exceeded revenue, resulting in a 192% operating deficit.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELIGIBLE EMPLOYEES AND THEIR FAMILIES AND DEPENDENTS WITH HEALTH AND WELFARE BENEFITS AND SUCH OTHER SIMILAR BENEFITS AS ESTABLISHED UNDER COLLECTIVE BARGAINING AGREEMENTS.

Program Service Accomplishments

Program 1

PROVIDE ELIGIBLE EMPLOYEES AND THEIR FAMILIES AND DEPENDENTS WITH HEALTH BENEFITS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $94,323

Investment Income $2,740

Other Revenue $0

TOTAL REVENUE $97,063

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $82,799

TOTAL EXPENSES $283,767

Year-over-Year Comparison

	2023	2022	Change
Revenue	$97,063	$1,770,720	-0.9%
Expenses	$283,767	$1,916,738	-0.9%
Net Income	$-186,704	$-146,018	+0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN BIELAK	UNION TRUSTEE	1.0	Director	$0	$0	$0
VICTOR CORNELLIER	MANAGEMENT TRUSTEE/CO-CHAIR	1.0	Director	$0	$0	$0
KENNETH DEAN	UNION TRUSTEE/CO-CHAIR	1.0	Director	$0	$0	$0
ANTHONY ROSACI	UNION TRUSTEE	1.0	Director	$0	$0	$0
ROBERT RUSSELL	MANAGEMENT TRUSTEE-Past	1.0	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
2023	$97,063	$283,767	No data	$-186,704
2022	$1,770,720	$1,916,738	$1,261,041	$-146,018
2021	$2,079,853	$1,548,729	$1,690,816	$531,124
2020	$1,917,756	$2,192,101	$398,747	$-274,345
2019	$2,255,141	$2,250,079	$670,251	$5,062
2018	$2,031,096	$1,804,545	$941,161	$226,551