Plumbers & Pipefitters Local 625 Health & Welfare Fund

Nonprofit profile at a glance

EIN
882080702
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
3045250331
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$6,979,151
Expenses
$5,823,269
Assets
$8,739,981
Liabilities
$5,339

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

Leadership & pay

4 people listed

Highest reported compensation

  • Paul Breedlove (Trustee): $114,534 total reported compensation
  • Craig Mosteller (Trustee): $111,915 total reported compensation

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

Overview

Mission

Receive, preserve and invest contributions made by employers as required by the Collective Bargaining Agreements to provide health and welfare benefits to eligible participants.

What it reported doing in 2024

Provide accident, hospital, medical, surgical, prescription, dental, vision, and death benefits to eligible members of the United Association of Pipefitters & Plumbers Local 625 and their spouses and dependents.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 92% of its reported program spending for member benefits.

The verdict

SUPPORTED - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 65
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79%; rating input score 79
  • Program expense ratio: 97.4%; rating input score 97
  • 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: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.6%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 19% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: -11.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 27.3% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 79% of revenue deployed · 97.4% of spending went to programs
  • Governance: 2 of 4 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.7M in reported program spending
  • Leadership: top reported pay $115K · 4 people listed
  • Highest-paid contractors: 5 contractors listed · $1.6M reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.