Plumbers Local No 98 Supplemental Unemployment Benefit Trust Fund

Nonprofit profile at a glance

EIN
386105923
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488139800
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$1,192,418
Expenses
$724,754
Assets
$8,539,501
Liabilities
$1,755,618

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

Leadership & pay

5 people listed

Highest reported compensation

  • RUFUS HAMILTON (TRUSTEE): $114,638 total reported compensation
  • GARY GLASER (TRUSTEE): $114,238 total reported compensation
  • DAN NIXON (CHAIRMAN): $113,138 total reported compensation

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

Overview

Mission

The plumbers local no.98 supplemental unemployment benefit trust fund is crafted for the purpose of providing supplemental unemployment benefits to eligible individuals under a collectively bargained agreement, on behalf of the plumbers local no. 98, in compliance with the taft-hartley act.

Operating model

Revenue model
Earned-program. 75% 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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 90
  • Accountability: 39
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.9%; rating input score 38
  • Program expense ratio: 76.7%; rating input score 77
  • 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: 40%; rating input score 40; 10th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 11.78; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -21.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 37.9% of revenue deployed · 76.7% of spending went to programs
  • Governance: 2 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $115K · 5 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2009 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.