IAMAW DISTRICT NO 15 NEW ENGLAND AREA HEALTH AND WELFARE FUND (EIN 020351951) - Form 990 Financial Analysis & Trantor Score

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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

1954

Legal Domicile

Principal Officer

BRIAN DEGNAN

Phone

2019478000

Tax Period

2024-05-01 to 2025-04-30

IAMAW DISTRICT NO 15 NEW ENGLAND AREA HEALTH AND WELFARE FUND, founded in 1954, is a community nonprofit that reported $5.8M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $5.4M left a modest 8% surplus.

Mission

TO OBTAIN AND ADMINISTER THE BENEFIT PROGRAM FOR ELIGIBLE PARTICIPANTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,657,108

Investment Income $154,493

Other Revenue $0

TOTAL REVENUE $5,811,601

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $109,889

TOTAL EXPENSES $5,362,026

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,811,601	$5,051,533	+0.2%
Expenses	$5,362,026	$4,855,494	+0.1%
Net Income	$449,575	$196,039	+1.3%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL VARTABEDIAN	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN DEGNAN	TRUSTEE	1.00	Director	$0	$0	$0
DAVID NUTTER	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL DICOCCO	TRUSTEE	1.00	Director	$0	$0	$0
JAMIE JOYCE	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN CRUZ	TRUSTEE	1.00	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
2025	$5,811,601	$5,362,026	$4,083,360	$449,575
2024	$5,051,533	$4,855,494	$3,547,483	$196,039
2023	$4,357,217	$4,296,585	$3,232,784	$60,632
2022	$4,348,422	$4,159,741	$3,203,818	$188,681
2021	$4,070,445	$3,666,766	$3,219,018	$403,679
2020	$4,152,862	$3,834,857	$2,584,438	$318,005
2019	$2,642,360	$2,782,041	$2,352,932	$-139,681
2018	$2,041,327	$2,038,064	$2,307,548	$3,263

IAMAW DISTRICT NO 15 NEW ENGLAND AREA HEALTH AND WELFARE FUND