PAINTERS DISTRICT COUNCIL NO 35 HEALTH BENEFITS FUND (EIN 042150983) - 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

1970

Legal Domicile

Principal Officer

DEBORAH COTTER

Phone

6175241240

Tax Period

2024-07-01 to 2025-06-30

PAINTERS DISTRICT COUNCIL NO 35 HEALTH BENEFITS FUND, founded in 1970, is a mid-sized nonprofit that reported $39.5M in total revenue in fiscal year 2024. Expenses of $46.5M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE MEMBERS OF THE INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES DISTRICT COUNCIL NO. 35.

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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 $36,104,587

Investment Income $3,393,584

Other Revenue $3,974

TOTAL REVENUE $39,502,145

Expense Breakdown

Grants Paid $0

Salaries & Benefits $772,677

Fundraising Expenses $0

Other Expenses $2,307,850

TOTAL EXPENSES $46,547,095

Year-over-Year Comparison

	2024	2023	Change
Revenue	$39,502,145	$38,617,627	+0.0%
Expenses	$46,547,095	$40,169,460	+0.2%
Net Income	$-7,044,950	$-1,551,833	+3.5%

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

$1,601,832

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTIAN BRENNAN	TRUSTEE	2.00	Director	$0	$98,168	$304,822
JOSEPH GUARINO	TRUSTEE	2.00	Director	$0	$94,767	$275,999
CHARLES FOGELL	TRUSTEE	2.00	Director	$0	$21,538	$139,885
MARK KENNEDY	TRUSTEE	2.00	Director	$0	$0	$0
MATTHEW SOEP	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS STEEVES	TRUSTEE	2.00	Director	$0	$0	$0
PETER TOWNSEND	TRUSTEE	2.00	Director	$0	$0	$0
LAURENCE MILLER	TRUSTEE	2.00	Director	$0	$0	$0
JUSTIN DESMOND	TRUSTEE	2.00	Director	$0	$96,983	$294,329
RAYMOND PICKUP	TRUSTEE	2.00	Director	$0	$97,048	$296,222
JORGE RIVERA	TRUSTEE	2.00	Director	$0	$96,447	$290,575
THOMAS S GUNNING	TRUSTEE	2.00	Director	$0	$0	$0
DEBORAH COTTER	FUND ADMINISTRATOR	19.00	Highest	$105,115	$71,536	$288,268
HEATHER PALMACCI	ASST FUND ADMINISTRATOR	19.00	Highest	$60,458	$71,536	$196,191

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	$39,502,145	$46,547,095	$107,546,954	$-7,044,950
2024	$38,617,627	$40,169,460	$110,322,124	$-1,551,833
2023	$33,771,473	$36,178,088	$107,518,019	$-2,406,615
2022	$33,904,315	$34,613,667	$109,378,714	$-709,352
2021	$31,278,963	$34,448,657	$123,344,083	$-3,169,694
2020	$28,977,599	$37,314,864	$114,339,629	$-8,337,265
2019	$32,044,056	$31,691,821	$121,094,885	$352,235
2018	$38,522,597	$29,572,922	$114,795,987	$8,949,675

PAINTERS DISTRICT COUNCIL NO 35 HEALTH BENEFITS FUND