TEAMSTERS LOCAL 251 HEALTH SERVICES AND INSURANCE PLAN

EIN: 050271216

PROVIDENCE, RI

Total Revenue
$76,394,551
Total Expenses
$72,683,881
Total Assets
$174,785,891
Net Assets
$174,382,887
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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
1954
Legal Domicile
RI
Principal Officer
MATTHEW G TAIBI
Phone
4014673323
Tax Period
2024-07-01 to 2025-06-30

TEAMSTERS LOCAL 251 HEALTH SERVICES AND INSURANCE PLAN, founded in 1954, is a mid-sized nonprofit that reported $76.4M in total revenue in fiscal year 2024. Expenses of $72.7M left a modest 5% surplus.

Mission

THE PLAN PROVIDES MEDICAL, HOSPITALIZATION, DENTAL, VISION, HEARING, LIFE INSURANCE, WEEKLY ACCIDENT AND SICKNESS, LONG-TERM DISABILITY, INCOME TAX PREPARATION, AND PRESCRIPTION DRUG BENEFITS AS WELL AS AN EMPLOYEES' ASSISTANCE PROGRAM FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS. THE PLAN ALSO PROVIDES A PROGRAM OF BENEFITS FOR ELIGIBLE RETIREES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $71,663,836
Investment Income $4,689,338
Other Revenue $41,377
TOTAL REVENUE $76,394,551

Expense Breakdown

Grants Paid $0
Salaries & Benefits $832,598
Fundraising Expenses $0
Other Expenses $1,069,374
TOTAL EXPENSES $72,683,881

Year-over-Year Comparison

2024 2023 Change
Revenue $76,394,551 $75,475,053 +0.0%
Expenses $72,683,881 $63,850,826 +0.1%
Net Income $3,710,670 $11,624,227 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
3
Employees
5
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
0
$0
Total Directors
7
$720,552
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFERY ISAACS EMPLOYER TRUSTEE 2.00
Director
$0 $0 $0
MATTHEW G TAIBI UNION TRUSTEE/CO-CHAIRMAN 2.00
Director
$0 $68,377 $212,489
PAUL J SANTOS UNION TRUSTEE 2.00
Director
$0 $68,377 $206,388
MATTHEW A MAINI UNION TRUSTEE (P) 2.00
Director
$0 $45,993 $103,411
FRANK PARELLA EMPLOYER TRUSTEE/CO-CHAIRMAN 2.00
Director
$0 $0 $0
WILLIAM SCHMIEDEKNECHT EMPLOYER TRUSTEE 2.00
Director
$0 $0 $0
STEVEN FREDETTE UNION TRUSTEE 2.00
Director
$0 $68,377 $198,264
TAMMY BEAUDREAULT FUND ADMINISTRATOR 40.00
Highest
$126,199 $74,423 $200,622
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 $76,394,551 $72,683,881 $174,785,891 $3,710,670
2024 $75,475,053 $63,850,826 $160,982,854 $11,624,227
2023 $73,753,121 $62,282,586 $141,446,820 $11,470,535
2022 $81,275,922 $63,956,646 $127,742,052 $17,319,276
2021 $79,227,752 $59,429,101 $124,158,196 $19,798,651
2020 $65,605,192 $51,373,812 $95,668,160 $14,231,380
2019 $57,987,678 $45,952,894 $78,399,300 $12,034,784
2018 $51,080,390 $45,001,194 $66,348,756 $6,079,196
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