Insulators Local No #2 Welfare Fund
Nonprofit profile at a glance
- EIN
- 256030310
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024
- Location
- Pittsburgh, PA, USA
- Phone
- 4124321143
- Rating
- 53
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $11,598,160
- Expenses
- $13,125,666
- Assets
- $37,618,631
- Liabilities
- $72,793
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
People named in this filing
- JAMES CASSIDY (TRUSTEE / CO-CHAIRMAN)
- JAMES BURNHAM JR (TRUSTEE / CO-CHAIRMAN)
- BRAD SCHAFER (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
To provide health & welfare benefits
What it reported doing in 2024
Health and welfare benefits are provided to members of the asbestos workers local union #2.
Operating model
- Revenue model
- Earned-program. 93% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 100
- Accountability: 88
- Sustainability: 48
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- 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: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- 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: -13.2%; rating input score 8; 8th percentile among comparable filings
- Total-asset coverage ratio: 2.87; rating input score 73; 73rd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.2% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 12.3% per year; rating input score 100; 73rd percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 13 of 22 current checks pass · 9 findings to review
- Schedules: 3 filed schedules
- Filing history: 7 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Related organizations: 40 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 8/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX BenefitsToMembers column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesInvstMgmntFees column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.