Board of Trustees-teamsters' Industry Welfare Fund

Nonprofit profile at a glance

EIN
256035969
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Mcmurray, PA, USA
Phone
4125632255
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$11,265,576
Expenses
$10,310,285
Assets
$57,924,205
Liabilities
$7,404,534

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

People named in this filing

  • JOSEPH PODOLAK (CHAIRMAN-LABOR TRUSTEE)
  • DOUGLAS YOUNGS (ALT CHAIR - LABOR TRUSTEE)
  • EUGENE BOSETTI (LABOR TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The fund provides health and welfare benefits to its members and their dependents, which include, medical, dental, accident, disability, prescription drug and death benefits.

What it reported doing in 2024

The fund contracted with an insurance provider for the coverage of hospital, medical, surgical and vision benefits. The fund also provided benefits from trust assets for coverage of dental, short-term disability, vision, prescription drug, and death benefits for eligible participants and their dependents as specified in the benefit plan booklet of benefits. Post-retirement benefits are not provded under the fund.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 95% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The available information about grant readiness automatic revocation leaves an important question unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.5%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 5.62; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 10.9% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $10.3M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.