Iw Local 25 Service Corporation

Nonprofit profile at a glance

EIN
871228160
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488139800
Rating confidence
Limited
Sector
Labor Unions

Official website

Reported finances

Revenue
$462,435
Expenses
$462,435
Assets
$13,518,730
Liabilities
$13,518,730

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

Leadership & pay

6 people listed

People named in this filing

  • RICHARD SAWHILL (MANAGEMENT TRUSTEE, CHAIRMAN)
  • MICHAEL RANDICK (UNION TRUSTEE, SECRETARY)
  • CHRIS VLK (MANAGEMENT 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

Providing administrative functions for the operating of various iron workers local 25 benefit plans.

What it reported doing in 2024

The iw local 25 service corporation is a nonprofit entity established in Michigan as a captive entity to provide collection agent and contribution disbursement services for the operations of various taft-hartley benefit plans that are governed by erisa. The service corporation is servicing the following family of multi-employer taft-hartley funds, as well as various ancillary related funds: iron workers local 25 pension trustiron workers local 25 defined contribution pension trustiron workers local 25 health care trustiron workers local 25 vacation pay trustiron workers local 25 training trust

Operating model

Revenue model
Investment-supported. 61% of the money available for current operations came from recurring investment income.
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: 88
  • Sustainability: 56
  • 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; 64th 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: 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: 0%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 29.23; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 61.9% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $462K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $142K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.