Iron Workers Welfare Fund
Nonprofit profile at a glance
- EIN
- 720506999
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Oak Brook, IL, USA
- Phone
- 7132191299
- Rating confidence
- Limited
Reported finances
- Revenue
- $5,845,370
- Expenses
- $5,261,891
- Assets
- $14,800,125
- Liabilities
- $2,232,648
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
People named in this filing
- John Gandy (Employer Trustee - Co-Chai)
- Luke Waggenspack (Union Trustee, Co-Chairman)
- Walter Ashford (Employer 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 and welfare benefits to eligible participants.
Operating model
- Revenue model
- Earned-program. 92% 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: 90
- Accountability: 42
- Sustainability: 67
- 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; 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: 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: 10%; rating input score 62; 62nd percentile among comparable filings
- Total-asset coverage ratio: 2.81; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 50; 50th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 2.4% per year; rating input score 100; 22nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 8 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 9 people listed
- Highest-paid contractors: 2 contractors listed · $498K reported
- Consistency: 12 of 12 current checks pass
- Schedules: 2 filed schedules
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- 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.
- Review — Sustainability: Liabilities to assets ratio scored 50/100.