Millwrights Local No 1120 Vacation Fund

Nonprofit profile at a glance

EIN
382707168
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lansing, MI, USA
Phone
5173217502
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$10,965,158
Expenses
$10,615,079
Assets
$4,347,658
Liabilities
$3,158,799

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

Leadership & pay

8 people listed

People named in this filing

  • MICHAEL BARNWELL (CHAIRMAN)
  • THOMAS WOODBECK (SECRETARY)
  • SCOTT HUFF (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

Provide vacation beneftis for eligible participants.

What it reported doing in 2024

To provide vacation benefits for eligivle union participants.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 100% 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. A relatively small share of voting board members are independent and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 65
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.8%; rating input score 96
  • Program expense ratio: 99.4%; rating input score 99
  • 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: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • 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: 3.2%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 95.8% of revenue deployed · 99.4% of spending went to programs
  • Governance: 4 of 8 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $10.6M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: Independent voting board scored 50/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.