HEAT & FROST INSULATORS AND ALLIED WORKERS LOCAL 6 HEALTH AND WELFARE FUND (EIN 046040850) - 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

1950

Legal Domicile

Principal Officer

JEFFREY SALIBA

Phone

6177954120

Tax Period

2023-01-01 to 2023-12-31

HEAT & FROST INSULATORS AND ALLIED WORKERS LOCAL 6 HEALTH AND WELFARE FUND, founded in 1950, is a mid-sized nonprofit that reported $15.8M in total revenue in fiscal year 2023. The organization ran a surplus of $2.4M, a strong 15% operating margin.

Mission

PROVIDE HEALTH, WELFARE AND DEATH BENEFITS TO ELIGIBLE MEMBERS AND THEIR BENEFICIARIES OF ASBESTOS WORKERS LOCAL 6.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $15,325,593

Investment Income $424,721

Other Revenue $440

TOTAL REVENUE $15,750,754

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $398,115

TOTAL EXPENSES $13,328,875

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,750,754	$15,393,371	+0.0%
Expenses	$13,328,875	$13,329,279	0.0%
Net Income	$2,421,879	$2,064,092	+0.2%

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

N/A

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

$450,537

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANCIS BOUDROW	UNION TRUSTEE	3.00	Director	$0	$0	$2,182
STEVE JOHNSON	MGMT TRUSTEE	3.00	Director	$0	$0	$0
JEFFREY SALIBA	UNION TRUSTEE	3.00	Director	$0	$76,068	$227,274
PATRICK GALLAGHER	MGMT TRUSTEE	3.00	Director	$0	$0	$0
THOMAS WALL	UNION TRUSTEE	3.00	Director	$0	$76,068	$221,081
PAUL AINSWORTH	MGMT TRUSTEE	3.00	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	$15,750,754	$13,328,875	$23,693,051	$2,421,879
2022	$15,393,371	$13,329,279	$20,686,599	$2,064,092
2021	$14,680,725	$12,074,304	$20,492,367	$2,606,421
2020	$10,639,757	$11,266,061	$17,558,164	$-626,304
2019	$12,685,002	$11,313,196	$17,456,266	$1,371,806
2018	$12,521,008	$11,349,446	$15,145,236	$1,171,562

HEAT & FROST INSULATORS AND ALLIED WORKERS LOCAL 6 HEALTH AND WELFARE FUND