INTERNATIONAL ASSOC OF BRIDGE STRUCT ORNAMENTAL & REINFOR IRONWORKERS LU 424 (EIN 060400755) - 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

1928

Legal Domicile

Principal Officer

JOSEPH SORENSEN

Phone

2037874154

Tax Period

2024-07-01 to 2025-06-30

INTERNATIONAL ASSOC OF BRIDGE STRUCT ORNAMENTAL & REINFOR IRONWORKERS LU 424, founded in 1928, is a small nonprofit that reported $800K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year.

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROMOTE AND PROTECT THE INTERESTS OF MEMBERS WHILE HELPING TO ELEVATE MORAL, INTELLECTUAL AND SOCIAL CONDITONS.

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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 $764,057

Investment Income $19,025

Other Revenue $17,039

TOTAL REVENUE $800,121

Expense Breakdown

Grants Paid $6,035

Salaries & Benefits $669,674

Fundraising Expenses $0

Other Expenses $201,464

TOTAL EXPENSES $877,173

Year-over-Year Comparison

	2024	2023	Change
Revenue	$800,121	$908,217	-0.1%
Expenses	$877,173	$864,956	+0.0%
Net Income	$-77,052	$43,261	-2.8%

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

$543,960

Total Directors

$3,206

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW RYAN	EXECUTIVE BOARD	2.00	Director	$1,163	$0	$1,163
MICHAEL MCGUINESS	EXECUTIVE BOARD	2.00	Director	$1,163	$0	$1,163
TERANCE CHARKOWSKY	EXECUTIVE BOARD	2.00	Director	$880	$0	$880
TIMOTHY DROTAR	EXECUTIVE BOARD	2.00	Director	$0	$0	$0
RYAN LASHER	EXECUTIVE BOARD	2.00	Director	$0	$0	$0
ANTHONY CUROLLO	EXECUTIVE BOARD (P)	2.00	Director	$0	$0	$0
RONALD SWARTZ	EXECUTIVE BOARD (P)	2.00	Director	$0	$0	$0
LEON ORTIZ	TRUSTEE	2.00	Director	$0	$0	$0
CHADWICK SCHRADE	TRUSTEE	2.00	Director	$0	$0	$0
SEAN SULLIVAN	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH SORENSEN	BUSINESS MGR/FINANCIAL SEC	45.00	Officer	$163,611	$111,866	$275,477
GREGORY S SCHULTZ	PRESIDENT/BA	45.00	Officer	$154,548	$110,192	$264,740
MARK A BUONO	RECORDING SECRETARY	2.00	Officer	$2,580	$0	$2,580
DEREK ZASTAURY	VICE PRESIDENT	2.00	Officer	$1,163	$0	$1,163
RICHARD WRIGHT	VICE PRESIDENT (P)	2.00	Officer	$0	$0	$0
ANTHONY OLIVER	SGT. AT ARMS	2.00	Officer	$0	$0	$0
ENCHION PALMER	SGT. AT ARMS (P)	2.00	Officer	$0	$0	$0
MATTHEW RADLER	CONDUCTOR	2.00	Officer	$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
2025	$800,121	$877,173	$1,055,348	$-77,052
2024	No data	No data	No data	No data
2023	$816,289	$840,635	$1,091,856	$-24,346
2022	$883,692	$761,837	$1,132,622	$121,855
2021	$560,732	$711,896	$1,100,566	$-151,164
2020	$670,921	$860,349	$1,112,069	$-189,428
2019	$706,872	$777,122	$1,352,036	$-70,250
2018	$677,659	$735,381	$1,408,365	$-57,722

INTERNATIONAL ASSOC OF BRIDGE STRUCT ORNAMENTAL & REINFOR IRONWORKERS LU 424