ASBESTOS WORKERS LOCAL 6 APPRENTIC… - Form 990 Financial Data

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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

JEFF SALIBA

Phone

6177954120

Tax Period

2024-01-01 to 2024-12-31

ASBESTOS WORKERS LOCAL 6 APPRENTICESHIP FUND, founded in 1950, is a small nonprofit that reported $931K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $268K, a strong 29% operating margin.

Mission

TO PROVIDE EDUCATION AND TRAINING FOR ELIGIBLE APPRENTICES AND JOURNEYMEN OF THE UNION.

Program Service Accomplishments

Program 1

Expenses: $556,198 Revenue: $873,438

TO PROVIDE EDUCATION AND TRAINING FOR ELIGIBLE APPRENTICES AND JOURNEYMEN OF THE UNION.

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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 $853,581

Investment Income $57,834

Other Revenue $19,857

TOTAL REVENUE $931,272

Expense Breakdown

Grants Paid $0

Salaries & Benefits $436,210

Fundraising Expenses $0

Program Expenses $556,198

Other Expenses $227,419

TOTAL EXPENSES $663,629

Year-over-Year Comparison

	2024	2023	Change
Revenue	$931,272	$840,976	+0.1%
Expenses	$663,629	$570,449	+0.2%
Net Income	$267,643	$270,527	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

N/A

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
JEFFREY SALIBA	UNION TRUSTEE	3.00	Director	$0	$0	$0
TIM ANDERSON	MGMT TRUSTEE	3.00	Director	$0	$0	$0
WAYNE ORTIZ	UNION TRUSTEE	3.00	Director	$0	$0	$0
MICHALE PASSAMONTI	MGMT TRUSTEE	3.00	Director	$0	$0	$0
PETE SMEDBERG	MGMT TRUSTEE	3.00	Director	$0	$0	$0
TOM WALL	UNION TRUSTEE	3.00	Director	$0	$0	$0
DANIEL KIRWIN	COORDINATOR	40.00	Highest	$115,209	$83,865	$199,074

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	$931,272	$663,629	$2,126,622	$267,643
2023	$840,976	$570,449	$1,905,769	$270,527
2022	$771,055	$566,316	$1,594,192	$204,739
2021	$674,382	$468,873	$1,125,838	$205,509
2020	$465,382	$352,487	$905,562	$112,895
2019	$552,915	$378,256	$795,517	$174,659
2018	$474,708	$331,564	$619,333	$143,144

ASBESTOS WORKERS LOCAL 6 APPRENTICESHIP FUND