OPERATING ENGINEERS UNION 3 PENSIONED HEALTH & WELFARE FUND (EIN 946096327) - 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

1962

Legal Domicile

Principal Officer

DAN REDING

Phone

5106718800

Tax Period

2023-01-01 to 2023-12-31

OPERATING ENGINEERS UNION 3 PENSIONED HEALTH & WELFARE FUND, founded in 1962, is a major nonprofit that reported $125.7M in total revenue in fiscal year 2023. Expenses of $114.1M left a modest 9% surplus.

Mission

TO PROVIDE HEALTHCARE BENEFITS DURING RETIREMENT TO ELIGIBLE OPERATING ENGINEERS COVERED BY COLLECTIVE BARGAINING AGREEMENTS.

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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 $117,094,892

Investment Income $8,448,416

Other Revenue $162,016

TOTAL REVENUE $125,705,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $8,788,653

TOTAL EXPENSES $114,139,978

Year-over-Year Comparison

	2023	2022	Change
Revenue	$125,705,324	$119,278,066	+0.1%
Expenses	$114,139,978	$103,050,897	+0.1%
Net Income	$11,565,346	$16,227,169	-0.3%

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

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
KEVIN J ALBANESE	TRUSTEE	2.0	Director	$0	$0	$0
THOMAS HOLSMAN	TRUSTEE	2.0	Director	$0	$0	$0
TOM SQUERI	TRUSTEE	2.0	Director	$0	$0	$0
LANCE INOUYE	TRUSTEE	2.0	Director	$0	$0	$0
JAMES E MURRAY	CO-CHAIRMAN	2.0	Director	$0	$0	$0
JUSTIN DISTON	TRUSTEE	2.0	Director	$0	$0	$0
DAVID R STANTON	TRUSTEE	2.0	Director	$0	$0	$0
BRUCE NOEL	TRUSTEE	2.0	Director	$0	$0	$0
STEVE INGERSOLL	TRUSTEE	2.0	Director	$0	$0	$0
DAN REDING	CO-CHAIRMAN	2.0	Director	$0	$0	$0
GARRET UPDIKE	TRUSTEE	2.0	Director	$0	$0	$0
NATE TUCKER	TRUSTEE	2.0	Director	$0	$0	$0
FG CROSTHWAITE	TRUSTEE	2.0	Director	$0	$0	$0
DAVID HARRISON	TRUSTEE	2.0	Director	$0	$0	$0
FRANK WILLIAMS	TRUSTEE	2.0	Director	$0	$0	$0
PATTY DUTRA BRUCE	TRUSTEE	2.0	Director	$0	$0	$0
CHARLES LAVERY	TRUSTEE	2.0	Director	$0	$0	$0
BRANDON DEW	TRUSTEE	2.0	Director	$0	$0	$0
JOHN RECTOR	TRUSTEE	2.0	Director	$0	$0	$0
JIM JACOBS	TRUSTEE	2.0	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
2024	No data	No data	No data	No data
2023	$125,705,324	$114,139,978	$283,590,262	$11,565,346
2022	$119,278,066	$103,050,897	$267,935,818	$16,227,169
2021	$118,212,622	$96,264,351	$267,164,659	$21,948,271
2020	$135,314,965	$119,913,906	$248,305,262	$15,401,059
2019	$149,156,510	$122,861,221	$217,186,601	$26,295,289
2018	$135,455,688	$115,912,352	$185,660,473	$19,543,336

OPERATING ENGINEERS UNION 3 PENSIONED HEALTH & WELFARE FUND