Insulators Local No 53 Welfare Fund

Nonprofit profile at a glance

EIN
720455641
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Kenner, LA, USA
Phone
5044689654
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$2,056,370
Expenses
$1,958,528
Assets
$8,361,159
Liabilities
$1,064,549

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

Leadership & pay

5 people listed

Executive titles in this filing

  • RYAN BORDELON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RYAN BORDELON (EXECUTIVE DIRECTOR): $25,854 total reported compensation

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

Overview

Mission

The fund receives contributions from participating contractors/ members who employ members of the union. Contributions are received on each covered hour worked. These funds are used to provide health insurance benefits to eligible participants.

What it reported doing in 2024

The welfare fund provides major medical health, prescription and group term life insurance coverage. Total costs for each service are detailed here in part iii. This final amount $9,864 is for group term life insurance only.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 83% 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. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82%; rating input score 82
  • Program expense ratio: 94.7%; rating input score 95
  • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 4.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 4.27; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 82% of revenue deployed · 94.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $206K in reported program spending
  • Leadership: top reported pay $26K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $60K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules · includes related organizations
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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 — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.