Plumbers and Pipefitters Local 502

Nonprofit profile at a glance

EIN
200512028
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$12,288,379
Expenses
$7,863,070
Assets
$29,477,210
Liabilities
$13,932

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JOSEPH FORD (PRESIDENT)

Highest reported compensation

  • ANTHONY S LEWIS (BUSINESS MAN): $138,171 total reported compensation
  • ERIK ELZY (BUSINESS AGE): $124,354 total reported compensation
  • JAMES K JESSE (BUSINESS AGE): $119,571 total reported compensation

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

Overview

Mission

Labor union - to collectively bargain for fair compensation for its members

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, 18% for affiliated organizations, and 2% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 92
  • Accountability: 42
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 100%; rating input score 100
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 36%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 3.75; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 21.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 2077 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $7.9M in reported program spending
  • Leadership: top reported pay $138K · 6 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.