INTERNATIONAL UNION OF OPERATING ENGINEERS WELFARE FUND 478

EIN: 060662089

HAMDEN, CT

Total Revenue
$67,414,306
Total Expenses
$69,268,546
Total Assets
$132,410,479
Net Assets
$117,959,772
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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
1951
Legal Domicile
CT
Principal Officer
DEBORAH PALMIERI
Phone
2032889261
Tax Period
2023-01-01 to 2023-12-31

INTERNATIONAL UNION OF OPERATING ENGINEERS WELFARE FUND 478, founded in 1951, is a mid-sized nonprofit that reported $67.4M in total revenue in fiscal year 2023.

Mission

TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $65,916,582
Investment Income $1,480,995
Other Revenue $16,729
TOTAL REVENUE $67,414,306

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,111,414
Fundraising Expenses $0
Other Expenses $-236,682
TOTAL EXPENSES $69,268,546

Year-over-Year Comparison

2023 2022 Change
Revenue $67,414,306 $63,442,490 +0.1%
Expenses $69,268,546 $61,906,239 +0.1%
Net Income $-1,854,240 $1,536,251 -2.2%
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

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Governance

Voting Members
6
Independent Members
6
Employees
89
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
1
$358,097
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER COZZI UNION TRUSTEE 1.00
Director
$0 $0 $0
KYLE ZIMMER UNION TRUSTEE 1.00
Director
$0 $0 $0
GARRY GYENIZS UNION TRUSTEE 1.00
Director
$0 $0 $0
JOHN BUTTS EMPLYR TRUSTEE 1.00
Director
$0 $0 $0
THOMAS ONEGLIA EMPLYR TRUSTEE 1.00
Director
$0 $0 $0
VINCENT FEDERICO EMPLYR TRUSTEE 1.00
Director
$0 $0 $0
DOROTHY SINISCALCHI EXECUTIVE DIR. 12.00
Officer
$241,203 $116,894 $358,097
LAURIE LINTON ASST EXECUTIVE DIR 14.00
Highest
$190,120 $105,266 $295,386
COLIN EDWARDS NETWORK ADMIN. 14.00
Highest
$171,569 $99,033 $270,602
STEPHEN ZLAMANY NETWORK ADMIN. 12.00
Highest
$167,082 $97,526 $264,608
CHERYL DESKIN-MERWEDE CLAIMS SUPERVISOR 35.00
Highest
$145,174 $90,167 $235,341
KELLY EILEEN DWYER PAYROLL AND EE BNF. ACCT. 8.00
Highest
$145,186 $90,170 $235,356
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 $67,414,306 $69,268,546 $132,410,479 $-1,854,240
2022 $63,442,490 $61,906,239 $122,295,831 $1,536,251
2021 $64,853,595 $63,099,030 $131,628,266 $1,754,565
2020 $60,221,660 $57,976,859 $127,153,814 $2,244,801
2019 $60,365,640 $58,177,283 $119,120,367 $2,188,357
2018 $59,056,233 $56,056,008 $106,105,671 $3,000,225
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