SEATTLE AREA PLUMBING AND PIPEFITTING INDUSTRY HEALTH TRUST (EIN 910838639) - 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

ED KOMMERS

Phone

2066941374

Tax Period

2024-07-01 to 2025-06-30

SEATTLE AREA PLUMBING AND PIPEFITTING INDUSTRY HEALTH TRUST, founded in 1968, is a mid-sized nonprofit that reported $76.8M in total revenue in fiscal year 2024. Expenses of $85.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROVIDE WELFARE BENEFITS FOR PARTICIPATING EMPLOYEES AND THEIR BENEFICIARIES.

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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 $75,174,921

Investment Income $1,657,463

Other Revenue $0

TOTAL REVENUE $76,832,384

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,260

Fundraising Expenses $0

Other Expenses $7,066,009

TOTAL EXPENSES $85,646,889

Year-over-Year Comparison

	2024	2023	Change
Revenue	$76,832,384	$78,093,096	0.0%
Expenses	$85,646,889	$82,365,543	+0.0%
Net Income	$-8,814,505	$-4,272,447	+1.1%

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

N/A

Employees

100

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
ED KOMMERS	CHAIRMAN, EMPLOYER TRUSTEE	1.00	Officer Director	$0	$0	$0
JEFFERY J OWEN	CHAIRMAN, UNION TRUSTEE (OUTGOING)	1.00	Officer Director	$0	$0	$0
MICHAEL KUNKEL	SECRETARY, UNION TRUSTEE	1.00	Officer Director	$0	$0	$0
JOEL CRABTREE	UNION TRUSTEE	1.00	Director	$0	$0	$0
PAT DAMITIO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
RORY OLSON	EMPLOYER TRUSTEE	1.00	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	$76,832,384	$85,646,889	$53,438,077	$-8,814,505
2024	No data	No data	No data	No data
2023	$78,731,987	$79,537,691	$61,473,525	$-805,704
2022	$73,950,998	$76,098,061	$61,334,297	$-2,147,063
2021	$72,961,849	$73,028,086	$65,745,423	$-66,237
2020	$69,714,730	$66,661,377	$62,622,361	$3,053,353
2019	$72,772,689	$67,898,839	$58,748,079	$4,873,850
2018	$69,814,932	$62,536,509	$52,939,130	$7,278,423

SEATTLE AREA PLUMBING AND PIPEFITTING INDUSTRY HEALTH TRUST