UA LOCAL 716 HEALTH & WELFARE TRUST FUND

EIN: 016010506 Mutual Benefit

WALLINGFORD, CT

Total Revenue
$5,691,308
Total Expenses
$7,115,125
Total Assets
$4,215,559
Net Assets
$3,693,252
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
ME
Principal Officer
ANTHONY SIROIS
Phone
2032697741
Tax Period
2023-01-01 to 2023-12-31

UA LOCAL 716 HEALTH & WELFARE TRUST FUND, founded in 1977, is a community nonprofit in the Mutual Benefit sector that reported $5.7M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $7.1M exceeded revenue, resulting in a 25% operating deficit.

Mission

TO PROVIDE VARIOUS FORMS OF HEALTH AND OTHER INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES.

Program Service Accomplishments

Program 1

TO PROVIDE VARIOUS FORMS OF HEALTH AND OTHER INSURANCE COVERAGE TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,915,392
Investment Income $137,976
Other Revenue $1,637,940
TOTAL REVENUE $5,691,308

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $517,886
TOTAL EXPENSES $7,115,125

Year-over-Year Comparison

2023 2022 Change
Revenue $5,691,308 $4,434,388 +0.3%
Expenses $7,115,125 $5,286,509 +0.3%
Net Income $-1,423,817 $-852,121 +0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
N/A
Employees
193
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
9
$174,748
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NAPOLITANO JOHN TRUSTEE 2.00
Director
$0 $0 $0
MCKENNA JENNIFER TRUSTEE (P) 2.00
Director
$3,429 $0 $3,429
SAINO GARY TRUSTEE 2.00
Director
$0 $0 $0
PARRIE WILLIETTE TRUSTEE 2.00
Director
$0 $0 $0
SIROIS ANTHONY TRUSTEE 2.00
Director
$0 $0 $87,565
CHAD ELLIS TRUSTEE 2.00
Director
$0 $0 $0
BEAU LIBBY TRUSTEE 2.00
Director
$0 $0 $0
MICHAEL WICHENBACH TRUSTEE 2.00
Director
$0 $0 $83,754
DAN NELSON TRUSTEE 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $5,691,308 $7,115,125 $4,215,559 $-1,423,817
2022 $4,434,388 $5,286,509 $5,008,801 $-852,121
2021 $4,956,400 $5,112,353 $6,682,151 $-155,953
2020 $4,069,219 $4,794,773 $6,768,953 $-725,554
2019 $5,103,388 $4,892,480 $7,254,311 $210,908
2018 $4,088,263 $4,492,681 $6,532,852 $-404,418
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