LOCAL 493 HEALTH SERVICE AND INSURANCE PLAN (EIN 060689500) - 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

1954

Legal Domicile

Principal Officer

BEVAN SWEET

Phone

8608481459

Tax Period

2024-07-01 to 2025-06-30

LOCAL 493 HEALTH SERVICE AND INSURANCE PLAN, founded in 1954, is a mid-sized nonprofit that reported $21.9M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $19.6M left a modest 10% surplus.

Mission

SELF-INSURED HEALTH BENEFIT PLAN

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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 $18,003,768

Investment Income $3,853,650

Other Revenue $67,527

TOTAL REVENUE $21,924,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $582,325

Fundraising Expenses $0

Other Expenses $1,168,192

TOTAL EXPENSES $19,635,712

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,924,945	$18,360,479	+0.2%
Expenses	$19,635,712	$16,581,124	+0.2%
Net Income	$2,289,233	$1,779,355	+0.3%

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

Total Directors

$508,742

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEVAN SWEET	UNION TRUSTEE	4.00	Director	$0	$72,619	$251,242
NICHOLAS REUT	EMPLOYER TRUSTEE	2.00	Director	$14,000	$0	$14,000
CRAIG MITCHELL	UNION TRUSTEE	4.00	Director	$0	$74,899	$243,500
ROARKE LEVINE	EMPLOYER TRUSTEE	2.00	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
2025	$21,924,945	$19,635,712	$85,670,706	$2,289,233
2024	No data	No data	No data	No data
2023	$14,988,415	$14,865,888	$75,094,708	$122,527
2022	$15,044,920	$11,119,818	$62,748,886	$3,925,102
2021	$16,816,510	$9,783,021	$67,360,929	$7,033,489
2020	$12,199,087	$8,090,595	$53,922,319	$4,108,492
2019	$10,475,262	$9,879,052	$49,600,761	$596,210
2018	$10,299,857	$7,468,740	$46,497,333	$2,831,117

LOCAL 493 HEALTH SERVICE AND INSURANCE PLAN