Is Plumbers 112 Welfare Plan Legit?

The Plumbers 112 Welfare Plan demonstrates consistent financial growth and appears to be fiscally sound. Over the past five years, its assets have grown from $8,227,787 in 2019 to $13,766,152 in 2023, indicating effective asset management. The organization consistently reports zero officer compensation, which is a significant positive indicator for transparency and efficient use of funds, suggesting that administrative costs are kept low and resources are directed towards the plan's beneficiaries. The plan consistently operates with a surplus, as seen in 2023 where revenue of $9,212,512 exceeded expenses of $8,120,985, further strengthening its financial health. Given its nature as a welfare plan, the majority of its expenses are inherently programmatic, directly benefiting its members. The consistent growth in revenue and assets, coupled with low liabilities relative to assets (e.g., $300,276 in liabilities against $13,766,152 in assets in 2023), suggests a well-managed and stable financial operation. The absence of officer compensation is a strong positive for transparency, as it removes a common area of concern for excessive spending in non-profits. Overall, the Plumbers 112 Welfare Plan appears to be a financially healthy and efficiently managed organization, effectively serving its purpose.