Carpenters and Joiners Welfare Fund
Nonprofit profile at a glance
- EIN
- 416024791
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Bloomington, MN, USA
- Phone
- 9528540795
- Rating confidence
- Limited
Reported finances
- Revenue
- $261,850,024
- Expenses
- $258,893,783
- Assets
- $349,641,414
- Liabilities
- $11,562,297
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Highest reported compensation
- PATRICK NILSEN (UNION TRUSTEE, SECRETARY): $512,452 total reported compensation
- BURT JOHNSON (UNION TRUSTEE): $371,188 total reported compensation
- WAYNE NORDIN (UNION TRUSTEE): $356,938 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide health and welfare benefits pursuant to a collective bargaining agreement.
What it reported doing in 2024
Self-funded benefits for approximately 14,715 union members and their dependents.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 60
- Accountability: 26
- Sustainability: 53
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.1%; rating input score 38; 38th percentile among comparable filings
- Total-asset coverage ratio: 1.35; rating input score 50; 50th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 0.5%; rating input score 85; 85th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 9.5% per year; rating input score 100; 75th percentile among comparable filings
- Asset growth: 7.5% per year; rating input score 100; 55th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 10 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $512K · 19 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $11.1M reported
- Consistency: 12 of 12 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 21 filed money-flow records
- Related organizations: 5 filed related-organization links
- 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.
- High — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 38/100.
- Review — Sustainability: Total-asset coverage ratio scored 50/100.