PIPE FITTERS ASSOCIATION LOCAL 597 CHARITIES INC (EIN 832805018) - 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

2018

Legal Domicile

Principal Officer

JOE BONATO

Phone

3128294191

Tax Period

2023-01-01 to 2023-12-31

PIPE FITTERS ASSOCIATION LOCAL 597 CHARITIES INC, founded in 2018, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $127K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $149K exceeded revenue, resulting in a 18% operating deficit.

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE PURPOSES, INCLUDING FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE BY ENGAGING IN FUND-RAISING ACTIVITIES TO SUPPORT CHARITABLE ACTIVITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $207,585

Program Service Revenue $0

Investment Income $0

Other Revenue $-80,629

TOTAL REVENUE $126,956

Expense Breakdown

Grants Paid $145,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $145,000

Other Expenses $4,445

TOTAL EXPENSES $149,445

Year-over-Year Comparison

	2023	2022	Change
Revenue	$126,956	$165,380	-0.2%
Expenses	$149,445	$156,489	0.0%
Net Income	$-22,489	$8,891	-3.5%

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

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

$344,440

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JON NEU	VICE PRESIDENT	1.00	Director	$0	$0	$0
CALVIN GORDON	SECRETARY	1.00	Director	$0	$0	$0
LYNN RAMOS	TREASURER - PAST	1.00	Director	$0	$0	$0
JOE BONATO	PRESIDENT	1.00	Director	$0	$0	$0
PEGGY PLATZ	TREASURER - NEW	1.00	Director	$0	$0	$0
TIMOTHY GALLAGHER	EXECUTIVE DIRECTOR	1.00	Officer	$0	$131,152	$344,440

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	No data	No data	No data	No data
2023	$126,956	$149,445	$32,638	$-22,489
2022	$165,380	$156,489	$55,127	$8,891
2021	$146,557	$126,388	$46,236	$20,169

PIPE FITTERS ASSOCIATION LOCAL 597 CHARITIES INC