Heat and Frost Insulators and Allied Workers Local 25 Welfare Fund

Nonprofit profile at a glance

EIN
386058688
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488139800
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$5,961,893
Expenses
$4,696,966
Assets
$13,264,544
Liabilities
$539,261

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

Leadership & pay

8 people listed

Highest reported compensation

  • Curt McGlone (Trustee): $93,002 total reported compensation
  • Robert Wright (Trustee): $3,738 total reported compensation

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

Overview

Mission

Provision of medical benefits

What it reported doing in 2024

To provide medical, dental, disability, and prescription drug benefits to approximately 350 eligible participants.

Operating model

Revenue model
Earned-program. 88% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 100
  • Accountability: 36
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 86
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.2%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 2.82; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 8 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.7M in reported program spending
  • Leadership: top reported pay $93K · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $271K reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 16 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.