MASSACHUSETTS LABORERS' HEALTH & WELFARE FUND (EIN 042214296) - 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

1964

Legal Domicile

Principal Officer

NATHAN GOLDSTEIN

Phone

7812721000

Tax Period

2024-01-01 to 2024-12-31

MASSACHUSETTS LABORERS' HEALTH & WELFARE FUND, founded in 1964, is a major nonprofit that reported $199.9M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $182.5M left a modest 9% surplus.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO 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 $176,039,428

Investment Income $23,819,491

Other Revenue $0

TOTAL REVENUE $199,858,919

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,763,379

Fundraising Expenses $0

Other Expenses $-770,670

TOTAL EXPENSES $182,511,610

Year-over-Year Comparison

	2024	2023	Change
Revenue	$199,858,919	$177,260,207	+0.1%
Expenses	$182,511,610	$160,269,777	+0.1%
Net Income	$17,347,309	$16,990,430	+0.0%

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

$363,063

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH BONFIGLIO	CHAIRMAN	1.00	Director	$0	$0	$0
THOMAS ANDREWS	CO-CHAIRMAN	1.00	Director	$0	$0	$0
VICTOR PEREIRA	TRUSTEE - EFF 03/24	1.00	Director	$0	$0	$0
DAVID ARAUJO	TRUSTEE - THROUGH 03/24	1.00	Director	$0	$0	$0
MICHAEL CIMMINO	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS J GUNNING	CO-SEC/TREASUER	1.00	Director	$0	$0	$0
STEVEN GENTILUCCI	TRUSTEE	1.00	Director	$0	$0	$0
DONALD C COOK JR	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW MCCOURT	TRUSTEE	1.00	Director	$0	$0	$0
NATHANIEL GOLDSTEIN	EXECUTIVE DIR.	20.00	Officer	$302,183	$60,880	$363,063
KATE A FOSSEL	DEPUTY EXECUTIVE DIRECTOR	20.00	Highest	$198,968	$60,880	$259,848
CHRISTINA CLEGG	H & W DIRECTOR	37.00	Highest	$186,083	$60,880	$246,963
JAMES LUFF	PENSION & ANNUITY DIRECTOR	2.00	Highest	$185,315	$60,880	$246,195
INGRID ROSALES	IT DIRECTOR	20.00	Highest	$157,140	$60,880	$218,020
ELIZABETH RAY	DIRECTOR OF ACCOUNTING	20.00	Highest	$152,286	$60,880	$213,166

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	$199,858,919	$182,511,610	$625,514,893	$17,347,309
2023	$177,260,207	$160,269,777	$595,725,930	$16,990,430
2022	$170,520,582	$143,270,851	$545,550,200	$27,249,731
2021	$169,479,081	$143,169,968	$563,573,344	$26,309,113
2021	$169,479,081	$143,737,968	$563,573,344	$25,741,113
2020	$147,487,859	$146,183,178	$525,970,540	$1,304,681
2019	$148,199,556	$135,656,564	$509,105,011	$12,542,992
2018	$139,336,378	$123,792,732	$452,459,231	$15,543,646

MASSACHUSETTS LABORERS' HEALTH & WELFARE FUND