UTAH PIPE TRADES WELFARE TRUST FUND

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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

1965

Legal Domicile

Principal Officer

ROBERT BERGMAN

Phone

9253987060

Tax Period

2023-10-01 to 2024-09-30

UTAH PIPE TRADES WELFARE TRUST FUND, founded in 1965, is a mid-sized nonprofit that reported $20.4M in total revenue in fiscal year 2023. Expenses of $18.0M left a modest 12% surplus.

Mission

TO PROVIDE INSURANCE COVERAGE TO PARTICIPANTS AND FAMILY MEMBERS FROM CONTRIBUTIONS PAID BY EMPLOYERS IN ACCORDANCE WITH PLAN PROVISIONS.

Program Service Accomplishments

Program 1

to provide insurance coverage to participants and family members from contributions paid by employers in accordance with plan provisions.

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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 $0

Program Service Revenue $19,407,572

Investment Income $1,001,658

Other Revenue $0

TOTAL REVENUE $20,409,230

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,605,669

TOTAL EXPENSES $17,995,954

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,409,230	$18,977,395	+0.1%
Expenses	$17,995,954	$19,377,041	-0.1%
Net Income	$2,413,276	$-399,646	-7.0%

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
robert bergman	trustee	1.0	Director	$0	$0	$0
SHAUN FORD	trustee	1.0	Director	$0	$0	$0
brett christiansen	trustee	1.0	Director	$0	$0	$0
jeremy haslem	trustee	1.0	Director	$0	$0	$0
cody weaver	trustee	1.0	Director	$0	$0	$0
jeff adams	trustee	1.0	Director	$0	$0	$0
MIKE BECKSTEAD	TRUSTEE	1.0	Director	$0	$0	$0
JEFF JOB	TRUSTEE	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
2025	No data	No data	No data	No data
2024	$20,409,230	$17,995,954	$26,928,813	$2,413,276
2023	$18,977,395	$19,377,041	$22,953,653	$-399,646
2022	$19,869,771	$21,049,830	$22,449,155	$-1,180,059
2021	$17,163,997	$18,622,517	$24,940,306	$-1,458,520
2020	$14,862,510	$12,718,715	$23,213,478	$2,143,795
2019	$17,740,616	$19,081,817	$22,411,672	$-1,341,201
2018	$20,252,907	$17,046,211	$24,243,528	$3,206,696