LOCAL UNION 598 PLUMBING & PIPEFITTING INDUSTRY HEALTH & WELFARE FUND (EIN 910973983) - 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

1976

Legal Domicile

Principal Officer

MACK BLAND III

Phone

5032240048

Tax Period

2023-10-01 to 2024-09-30

LOCAL UNION 598 PLUMBING & PIPEFITTING INDUSTRY HEALTH & WELFARE FUND, founded in 1976, is a mid-sized nonprofit that reported $27.7M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 21% operating margin.

Mission

TO PROVIDE HEALTH AND VACATION BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS

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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 $26,254,516

Investment Income $1,007,790

Other Revenue $472,489

TOTAL REVENUE $27,734,795

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $852,590

TOTAL EXPENSES $21,948,186

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,734,795	$23,089,687	+0.2%
Expenses	$21,948,186	$19,780,700	+0.1%
Net Income	$5,786,609	$3,308,987	+0.7%

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

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

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
NICK BUMPAOUS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MACK BLAND III	SECRETARY	1.00	Officer Director	$0	$0	$0
MACK BLAND IV	TRUSTEE	1.00	Director	$0	$0	$0
DEREK ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
RANDY GOHL	TRUSTEE	1.00	Director	$0	$0	$0
WAYNE GOHL JR	TRUSTEE	1.00	Director	$0	$0	$0
BILL HUGHES	TRUSTEE	1.00	Director	$0	$0	$0
JIM JARRETT	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH KERSHISNIK	TRUSTEE	1.00	Director	$0	$0	$0
JAMES MILLBAUER	TRUSTEE	1.00	Director	$0	$0	$0
RANDALL WALLI	TRUSTEE	1.00	Director	$0	$0	$0
DEREK WORSECH	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
2024	$27,734,795	$21,948,186	$44,530,590	$5,786,609
2023	$23,089,687	$19,780,700	$35,247,994	$3,308,987
2022	$20,672,904	$18,276,703	$33,361,490	$2,396,201
2021	$20,904,376	$19,315,004	$32,096,746	$1,589,372
2020	$22,694,574	$21,720,819	$30,028,503	$973,755
2019	$31,173,830	$27,039,691	$31,548,126	$4,134,139
2018	$20,137,991	$17,444,762	$23,365,553	$2,693,229

LOCAL UNION 598 PLUMBING & PIPEFITTING INDUSTRY HEALTH & WELFARE FUND