Civic Intelligence

Mcmaster-Carr Supply Co Employees' Welfare Trust

EIN 36-4052298 • 501(c)9 • Elmhurst, IL

Profile

TO FUND HEALTH INSURANCE OBLIGATIONS OF McMASTER-CARR SUPPLY CO.

PO Box 680Elmhurst, IL 60126
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

48th percentile

0.01x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

49th percentile

0.04x

Higher debt load relative to revenue than 49% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Net Margin

80th percentile

27%

Higher net margin than 80% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)9 • $250M-$1B nonprofits • Source year 2024

Asset Growth

83rd percentile

14%

Faster asset growth than 83% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

62nd percentile

13%

Faster revenue growth than 62% of similar nonprofits.

501(c)9 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$531,426,909

Up $66,717,753 (+14%) from 2023

Liabilities

Down

$5,989,425

Down $420,042 (-6.6%) from 2023

Net Assets

Up

$525,437,484

Up $67,137,795 (+15%) from 2023

Operations
Liabilities / Revenue49th percentileNet Margin80th percentile

Revenue

Up

$157,521,141

Up $17,658,455 (+13%) from 2023

Expenses

Up

$115,662,466

Up $7,589,253 (+7.0%) from 2023

Net Income

Up

$41,858,675

Up $10,069,202 (+32%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth83rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2020: $366,103,431Liabilities 2020: $3,058,439Net Assets 2020: $363,044,9922020Assets 2021: $451,957,330Liabilities 2021: $6,659,443Net Assets 2021: $445,297,8872021Assets 2022: $385,849,249Liabilities 2022: $10,889,084Net Assets 2022: $374,960,1652022Assets 2023: $464,709,156Liabilities 2023: $6,409,467Net Assets 2023: $458,299,6892023Assets 2024: $531,426,909Liabilities 2024: $5,989,425Net Assets 2024: $525,437,4842024

Highlighted filing

2024

Assets$531,426,909
Liabilities$5,989,425
Net Assets$525,437,484
Open 2024 Filing

Operations Trend

Revenue Growth62nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0Revenue 2020: $83,130,917Expenses 2020: $67,299,409Net Income 2020: $15,831,5082020Revenue 2021: $124,315,819Expenses 2021: $88,584,483Net Income 2021: $35,731,3362021Revenue 2022: $132,061,679Expenses 2022: $101,497,393Net Income 2022: $30,564,2862022Revenue 2023: $139,862,686Expenses 2023: $108,073,213Net Income 2023: $31,789,4732023Revenue 2024: $157,521,141Expenses 2024: $115,662,466Net Income 2024: $41,858,6752024

Highlighted filing

2024

Revenue$157,521,141
Expenses$115,662,466
Net Income$41,858,675
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$531,426,909
Liabilities
$5,989,425
Net assets
$525,437,484
Revenue
$157,521,141
Expenses
$115,662,466
Net income
$41,858,675
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$531$5.99$525$158$116$41.9
2023Detailed filing. Detailed filing data is available for this year.$465$6.41$458$140$108$31.8
2022Detailed filing. Detailed filing data is available for this year.$386$10.9$375$132$101$30.6
2021Detailed filing. Detailed filing data is available for this year.$452$6.66$445$124$88.6$35.7
2020Detailed filing. Detailed filing data is available for this year.$366$3.06$363$83.1$67.3$15.8
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 23, 2025
Return Version
2024v5.2
Gross Receipts
$273,766,532
Mission and Program Overview

Mission

TO FUND HEALTH INSURANCE OBLIGATIONS OF McMASTER-CARR SUPPLY CO.

TO PROVIDE HEALTH INSURANCE, TERM LIFE INSURANCE AND LONG TERM DISABILITY BENEFITS TO ELIGIBLE EMPLOYEES AND RETIREES OF McMASTER-CARR SUPPLY COMPANY

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$460,818,789$526,688,076▲ $65,869,287
Rtn Earn Endowment Incm Other Fnds$458,299,689$525,437,484▲ $67,137,795
Savings and Temporary Cash Investments$2,403,889$3,155,465▲ $751,576
Accounts Receivable$273,546$685,878▲ $412,332
Prepaid Expenses and Deferred Charges$755,805$424,082▼ $331,723
Total Assets$464,709,156$531,426,909▲ $66,717,753
Other Assets Total$457,127$473,408▲ $16,281
Liabilities
Other Liabilities$3,817,739$4,879,466▲ $1,061,727
Accounts Payable and Accrued Expenses$2,591,728$1,109,959▼ $1,481,769
Total Liabilities$6,409,467$5,989,425▼ $420,042
Net Assets / Fund Balance
Total Net Assets Fund Balance$458,299,689$525,437,484▲ $67,137,795
Total Liabilities and Net Assets / Fund Balance$464,709,156$531,426,909▲ $66,717,753
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
J a DelaneyTrustee
Jack DelaneyTrustee
R O Delaney JrTrustee
S EpsteinTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
United HealthcareThird-Party Healthcare Administrator2310 Parklake Dr NE, Atlanta, GA 30345$3,236,014
Express ScriptPharmacy Benefit ManagementOne Express Way, Saint Louis, MO 63121$954,651
Spring HealthMental Healthcare and Wellbeing Support60 Madison Ave Floor 2, New York, NY 10010$513,369
MercerConsulting Services155 North Wacker Drive Suite 1500, Chicago, IL 60606$279,977
Delta DentalDental Claims Administrator1515 W 22nd St Suite 450, Oak Brook, IL 60523$187,882
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$100,392,739
Investment Income
$57,128,402
Other Revenue
$0
Change in Net Assets
$41,858,675

Audited Revenue Reconciliation

Revenue per Audited Statements
$157,521,141
Revenue Not Reported on Form 990
$25,279,120
Total Revenue per Audited Statements
$182,800,261
Total Revenue per Form 990
$157,521,141
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,710,022
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$94,952,444--$94,952,444
Other Expenses$5,440,295$15,269,727-$15,269,727
Total Functional Expenses$100,392,739$15,269,727$0$115,662,466

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$115,662,466
Total Expenses per Audited Statements$115,662,466
Total Expenses per Form 990$115,662,466
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
State income taxes$3,427,806
Federal income taxes$1,451,660
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“J.A. DELANEY, R.O. DELANEY, JR., AND JACK DELANEY ARE RELATED. ALL FOUR TRUSTEES ARE OFFICERS OF THE PLAN SPONSOR, McMASTER-CARR SUPPLY COMPANY.”

Form 990, Part VI, Section A, Line 3

“The trustees have delegated the payment of medical, dental, vision and pharmaceutical claims to a third party administrator. Payment of these types of claims by a third party administrator is appropriate given the nature and privacy of medical claims.”

Form 990, Part VI, Section A, Line 8

“The trustees meet with the independent investment manager not less than three times a year to review the investment results of the trust. Employees of the plan sponsor, under the direction of one of the trustees, meet with benefit consultants to ensure that the third party administrators are complying with plan documents.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by pricewaterhousecoopers llp, the external auditor prior to filing. The return preparer shares a copy of form 990 with each trustee via email before filing.”

Form 990, Part VI, Section C, Line 19

“The plan sponsor is a privately held corporation. The trust does not make its governing documents or its conflict of interest policy available to the public. The trusts financial statements are available to the public via this form 990 and the plan sponsors form 5500.”

Filing and Contact Details

Filer

Filer Name
McMASTER-CARR SUPPLY CO EMPLOYEES' WELFARE TRUST
EIN
36-4052298
Phone
6307823872
Address
PO BOX 680, ELMHURST, IL 60126

Signing Officer

Name
Seth Epstein
Title
Trustee
Phone
6307823872
Signed
2025-10-23
Discuss with paid preparer
No

Organization Details

Principal Officer
Seth Epstein
Formed
1995
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
PwC US Tax LLP
Address
ONE NORTH WACKER DRIVE, CHICAGO, IL 60606
Preparer
Nolan Ogden
Phone
3122982000
Supplemental Narrative

Financial Statement Notes

X 2

“Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability or asset if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. There are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements as of December 31, 2024 and 2023.The Plan is subject to routine audits by taxing jurisdictions however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2021.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability or asset if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. There are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements as of December 31, 2024 and 2023.The Plan is subject to routine audits by taxing jurisdictions however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2021.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0J.A. DELANEY, R.O. DELANEY, JR., AND JACK DELANEY ARE RELATED. ALL FOUR TRUSTEES ARE OFFICERS OF THE PLAN SPONSOR, McMASTER-CARR SUPPLY COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TRUSTEES HAVE DELEGATED THE PAYMENT OF MEDICAL, DENTAL, VISION AND PHARMACEUTICAL CLAIMS TO A THIRD PARTY ADMINISTRATOR. PAYMENT OF THESE TYPES OF CLAIMS BY A THIRD PARTY ADMINISTRATOR IS APPROPRIATE GIVEN THE NATURE AND PRIVACY OF MEDICAL CLAIMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TRUSTEES MEET WITH THE INDEPENDENT INVESTMENT MANAGER NOT LESS THAN THREE TIMES A YEAR TO REVIEW THE INVESTMENT RESULTS OF THE TRUST. EMPLOYEES OF THE PLAN SPONSOR, UNDER THE DIRECTION OF ONE OF THE TRUSTEES, MEET WITH BENEFIT CONSULTANTS TO ENSURE THAT THE THIRD PARTY ADMINISTRATORS ARE COMPLYING WITH PLAN DOCUMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS REVIEWED BY PRICEWATERHOUSECOOPERS LLP, THE EXTERNAL AUDITOR PRIOR TO FILING. THE RETURN PREPARER SHARES A COPY OF FORM 990 WITH EACH TRUSTEE VIA EMAIL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PLAN SPONSOR IS A PRIVATELY HELD CORPORATION. THE TRUST DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE TRUSTS FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THIS FORM 990 AND THE PLAN SPONSORS FORM 5500.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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ReturnHeader/ReturnTs02025-10-30T03:54:24-00:00
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ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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