Operating Engineers Local 324 Health Care Fund
501(c)(9)
Only null% goes to programs Growing revenue
Operating Engineers Local 324 Health Care Fund is a 501(c)(9) organization based in Troy, Michigan, registered in 1973, with $170,773,741 in FY2024 revenue. CharityIndex grades it B+.
5600 New King Dr Ste 330, Troy, MI, 48098 EIN 38-1940673 Since 1973
Revenue (FY2024)
$170.8M
▲ 5.5% vs prior year
Expenses (FY2024)
$167.4M
Net assets
$14.4M
Employees
11
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Operating Engineers Local 324 Health Care Fund— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
C+Financial health25% of the rating1 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Operating Engineers Local 324 Health Care Fund: 1 mo reserves · +2% margin earns a C+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Operating Engineers Local 324 Health Care Fund: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Operating Engineers Local 324 Health Care Fund: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Collection of monies pursuant to collective bargaining agreements for distribution for payment of covered health care, death, and disability benefits to plan participants approx. 12,066 participants benefit under terms of plan.
Contact & location
Financial trends
Revenue grew from $103.7M (FY2013) to $170.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $133.5MNet assets $14.4M
Operating margin
2.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$147.9M
Total liabilities
$133.5M
Net assets
$14.4M
Salaries & benefits
$945K
1% of expenses
Board members
10
5 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $170,773,741▲5.5% | $167,355,072▲11.7% | $14,385,493▼55.2% | $147,918,475▲8.3% | 990 |
| 2023 | $161,842,439▲10.8% | $149,859,492▲8.5% | $32,125,676▼3.8% | $136,633,680▲9.5% | 990 |
| 2022 | $146,005,660▲5.2% | $138,131,555▲1.3% | $33,406,090▼4.2% | $124,805,057▲8.0% | 990 |
| 2021 | $138,853,618▲0.3% | $136,341,190▲17.5% | $34,877,818▼36.4% | $115,540,084▼0.2% | 990 |
| 2020 | $138,430,695▲6.3% | $116,047,121▼8.4% | $54,805,724▲35.8% | $115,791,328▲23.4% | 990 |
| 2019 | $130,258,640 | $126,717,120▼5.4% | $40,342,995▲53.0% | $93,827,548▲3.8% | 990 |
| 2018 | $130,323,261▲1.4% | $133,975,311▲8.2% | $26,359,826▼23.9% | $90,363,116▼3.6% | 990 |
| 2017 | $128,502,148▲8.8% | $123,767,531▲5.3% | $34,635,180▼5.6% | $93,706,737▲3.4% | 990 |
| 2016 | $118,057,529▲4.5% | $117,531,268▲11.4% | $36,695,985▼8.7% | $90,660,002▲5.8% | 990 |
| 2015 | $112,934,211▲3.3% | $105,515,944▲3.2% | $40,197,235▲1.2% | $85,713,571▲6.0% | 990 |
| 2014 | $109,309,206▲5.4% | $102,269,713▲4.9% | $39,703,018▲14.1% | $80,893,743▲10.1% | 990 |
| 2013 | $103,702,087 | $97,495,528▲3.9% | $34,793,336▲23.6% | $73,504,702▲10.0% | 990 |
| 2012 | — | $93,830,726▼3.4% | $28,138,661▲18.7% | $66,841,750▲8.3% | 990 |
| 2011 | — | $97,117,654▲1.6% | $23,712,006▼9.6% | $61,696,303▼7.9% | 990 |
| 2010 | — | $95,600,030▼3.5% | $26,229,726▲18.9% | $66,992,041▲2.1% | 990 |
| 2009 | — | $99,104,673 | $22,057,683 | $65,634,389 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Bob Adcock | Mgmt Trustee | 2 | — |
| Deven Rau | Mgmt Trustee | 2 | — |
| Douglas Stockwell | Labor Trustee, Secretary | 2 | — |
| Glenn Peer Jr | Mgmt Trustee - Part Year | 2 | — |
| James Oleksinski | Mgmt Trustee, Chairman | 2 | — |
| Kenneth Dombrow | Labor Trustee | 2 | — |
| Kevin Besonen | Labor Trustee | 2 | — |
| Lisa Lauzon | Labor Trustee - Part Year | 2 | — |
| Me Woodbeck Jr | Mgmt Trustee | 2 | — |
| Rob Krueger | Mgmt Trustee - Part Year | 2 | — |
| Scott Hart | Labor Trustee, Cfo Intl Union Oe | 2 | — |
| Tony Bolanowski | Labor Trustee - Part Year | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Delta Dental of Michigan | Claims Processing/contract Administrator | $395,234 |
| Solxsys Administrative Solutions | Plan Administration | $366,149 |
| Plante & Moran Pllc | Accounting | $314,310 |
| Stefansky Holloway & Nichols Inc | Accounting | $209,387 |
| Weisman Young & Ruemenapp PC | Legal | $165,131 |
Frequently asked questions
- Is Operating Engineers Local 324 Health Care Fund a legitimate nonprofit?
- Yes. Operating Engineers Local 324 Health Care Fund is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 38-1940673, based in Troy, Michigan.
- What is Operating Engineers Local 324 Health Care Fund's EIN?
- Operating Engineers Local 324 Health Care Fund's Employer Identification Number (EIN) is 38-1940673.
- How much revenue does Operating Engineers Local 324 Health Care Fund report?
- Operating Engineers Local 324 Health Care Fund reported $170,773,741 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Operating Engineers Local 324 Health Care Fund have?
- CharityIndex grades Operating Engineers Local 324 Health Care Fund B+, based on financial health (reserves and operating margin).
- How much does Operating Engineers Local 324 Health Care Fund's highest-paid employee make?
- The highest reported compensation on Operating Engineers Local 324 Health Care Fund's latest Form 990 is $0, paid to Bob Adcock (Mgmt Trustee).
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Data for Operating Engineers Local 324 Health Care Fund (EIN 38-1940673) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.