Ironworkers Local Union No 167 Welfare Fund

Nonprofit profile at a glance

EIN
620696127
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Goodlettsville, TN, USA
Phone
6158590131
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$4,078,704
Expenses
$3,268,676
Assets
$4,861,518
Liabilities
$1,529,277

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

Leadership & pay

4 people listed

People named in this filing

  • ALAN BARNHART (TRUSTEE)
  • JAMES COLE (CHAIRMAN)
  • DOUG MCCAIN (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

The provision of benefits to participants.

What it reported doing in 2024

The provision of health and life insurance benefits to participants.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 75% 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. Total assets are small relative to annual expenses; liquid coverage is unknown and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.8%; rating input score 72
  • Program expense ratio: 94.2%; rating input score 94
  • 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: 100%; rating input score 100; 63rd 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: 19.9%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 1.49; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 50% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 71.8% of revenue deployed · 94.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 2 contractors listed · $430K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2014 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.

  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.