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Plumbers & Steamfitters 247 Health & Welfare Fund

Not tax-deductible

Goodlettsvlle, TNMutual-benefit / member-servingEIN 72-6041321Revenue $2.8M in FY2024

On file with the IRSPo Box 1449, 37070-1449 · Goodlettsvlle, TNTax-exempt since Nov 1968

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To provide Health, dental, vision, temporary disability, and life insurance benefits to participants.

Mission: Form 990 Part I, line 1

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $265K a year · 11% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 28.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
-11% vs prior year
Spent
$2.4M
To programs
0%
Net assets
$6.2M
By yearFY2020–FY2024
Revenue
$2.8M
FY2024▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$1.9M
FY2022$2.5M
FY2023$3.2M
FY2024$2.8M
Expenses
$2.4M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.1M
FY2022$2.3M
FY2023$2.3M
FY2024$2.4M
Net assets
$6.2M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.0M
FY2021$4.7M
FY2022$4.9M
FY2023$5.8M
FY2024$6.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1968.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Steven Babb
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Plumbers & Steamfitters 247 Health & Welfare Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers health, dental, vision, disability, and life insurance benefits to participants.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The provision of health, dental, vision, temporary disability, and life insurance benefits to participants.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.5M
Investment incomeLn 3$316K
Other incomeLn 4–11$25K
Money outPt IX
$2.4M
Ln 25
Owns and owesPt X
$6.2M
net assets · Ln 32
Cash and savingsLn 1–2$5.6M
Total assetsLn 16$7.4M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.5M
Investment incomeLn 3$316K
Other incomeLn 4–11$25K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$261K
SavingsLn 2$5.4M
Cash and savings togetherLn 1–2$5.6M
InvestmentsLn 11–13$1.4M
Other assetsLn 15$6K
Total assetsLn 16$7.4M
LiabilitiesLn 26$1.2M
Net assetsLn 32$6.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.3M$5.6M
InvestmentsLn 11–13$1.3M$1.4M
Total assetsLn 16$6.8M$7.4M
LiabilitiesLn 26$1.0M$1.2M
Net assetsLn 32$5.8M$6.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$1.9M
Management feesLn 11a$94K
Legal feesLn 11b$9K
Accounting feesLn 11c$15K
Other fees for servicesLn 11g$146K
Office expensesLn 13$8K
Conferences, conventions and meetingsLn 19$7K
InsuranceLn 23$235K
Other expenses (24a–d)Ln 24$25K
All other expensesLn 24e$9K
Total functional expensesLn 25$2.4M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.8M$2.4M$411K$6.2M 990 PDF
FY2023 $3.2M$2.3M$857K$5.8M 990 PDF
FY2022 $2.5M$2.3M$231K$4.9M 990 PDF
FY2021 $1.9M$2.1M−$245K$4.7M 990 PDF
FY2020 $2.1M$2.1M$73K$5.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,817,848 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $2,533,979$2,476,795
I-10 Investment incomePrior year $636,322$315,574
I-11 Other revenuePrior year $1,891$25,479
I-12 Total revenuePrior year $3,172,192$2,817,848
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $1,809,860$1,859,505
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $505,091$547,732
I-18 Total expensesPrior year $2,314,951$2,407,237
I-19 Revenue less expensesPrior year $857,241$410,611
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,817,848 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,476,795$2,476,795
VIII-3 Investment incomeExcluded from tax $315,574$315,574
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $25,479$25,479
VIII-12 Total revenueRelated to mission $2,502,274 · Excluded from tax $315,574$2,817,848
Part IX · Statement of functional expenses $2,407,237 across 10 lines filed
IX-4 Benefits paid to or for members$1,859,505
IX-11a Management fees$93,600
IX-11b Legal fees$9,462
IX-11c Accounting fees$15,100
IX-11g Other fees for services$145,569
IX-13 Office expenses$7,672
IX-19 Conferences, conventions and meetings$7,212
IX-23 Insurance$235,178
IX-24 Other expenses (24a–d)$25,133
IX-24e All other expenses$8,806
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$2,407,237
Part X · Balance sheet $7,359,693 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $517,434$260,714
X-2 Savings and temporary cash investmentsStart of year $4,797,704$5,381,978
X-4 Accounts receivableStart of year $225,951$298,124
X-11 Publicly traded securitiesStart of year $1,292,917$1,413,028
X-15 Other assetsStart of year $6,871$5,849
X-16 Total assetsStart of year $6,840,877$7,359,693
X-17 Accounts payable and accrued expensesStart of year $9,216$15,055
X-25 Other liabilitiesStart of year $1,037,462$1,139,828
X-26 Total liabilitiesStart of year $1,046,678$1,154,883
X-32 Total net assets or fund balancesStart of year $5,794,199$6,204,810
X-33 Total liabilities and net assetsStart of year $6,840,877$7,359,693
Part XI · Reconciliation of net assets $6,204,810 net assets at year end
XI-1 Total revenue$2,817,848
XI-2 Total expenses$2,407,237
XI-3 Revenue less expenses$410,611
XI-4 Net assets at start of year$5,794,199
XI-10 Net assets at end of year$6,204,810

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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