Teamsters Local 1164 Welfare Fund

Nonprofit profile at a glance

EIN
346529411
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2163518040
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$6,028,656
Expenses
$6,006,895
Assets
$4,430,510
Liabilities
$7,520

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

Leadership & pay

3 people listed

People named in this filing

  • MICHAEL BOLYARD (TRUSTEE)
  • MICHAEL D'AMICO (TRUSTEE)
  • TRACY PARO (TRUSTEE / ADMINISTRATOR)

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

To provide sick, accident, life, short term disability, dental vision, ad&d and hospitalization benefits to eligible participants

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 97% 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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.3%; rating input score 99
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.74; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -6.6% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 99.3% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 1 contractor listed · $184K reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2015 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.