TEAMSTERS LOCAL 653 WELFARE FUND (EIN 042149479) - 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

1952

Legal Domicile

Principal Officer

MICHAEL CLARK

Phone

5082307140

Tax Period

2024-01-01 to 2024-12-31

TEAMSTERS LOCAL 653 WELFARE FUND, founded in 1952, is a mid-sized nonprofit that reported $34.7M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

PROVIDE HEALTH BENEFITS TO MEMBERS OF SPONSORING ORGANIZATION UNDER CBA

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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 $31,106,087

Investment Income $3,617,816

Other Revenue $7,530

TOTAL REVENUE $34,731,433

Expense Breakdown

Grants Paid $0

Salaries & Benefits $534,067

Fundraising Expenses $0

Other Expenses $2,516,847

TOTAL EXPENSES $34,933,631

Year-over-Year Comparison

	2024	2023	Change
Revenue	$34,731,433	$31,447,489	+0.1%
Expenses	$34,933,631	$33,756,692	+0.0%
Net Income	$-202,198	$-2,309,203	-0.9%

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

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 EPSTEIN	TRUSTEE	10.00	Director	$0	$0	$0
WILLIAM BURKE	TRUSTEE	10.00	Director	$0	$0	$0
MICHAEL CLARK	TRUSTEE	10.00	Director	$0	$0	$0
RONALD DAWBER	TRUSTEE	10.00	Director	$0	$0	$0
MICHAEL MAGATO	TRUSTEE	10.00	Director	$0	$0	$0
BRYAN VOCI	TRUSTEE	10.00	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	$34,731,433	$34,933,631	$69,696,950	$-202,198
2023	$31,447,489	$33,756,692	$66,889,341	$-2,309,203
2022	$33,434,574	$30,853,165	$64,239,261	$2,581,409
2021	$32,591,665	$30,444,465	$71,353,172	$2,147,200
2020	$30,477,733	$28,300,713	$69,783,998	$2,177,020
2019	$26,995,795	$23,037,940	$63,225,791	$3,957,855
2018	$25,478,850	$24,646,974	$56,717,236	$831,876

TEAMSTERS LOCAL 653 WELFARE FUND