LOCAL 443 HEALTH SVCE & INS PLAN (EIN 060690083) - 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

SALVATORE J ABATE

Phone

2036249817

Tax Period

2023-07-01 to 2024-06-30

LOCAL 443 HEALTH SVCE & INS PLAN, founded in 1954, is a mid-sized nonprofit that reported $36.5M in total revenue in fiscal year 2023. Expenses of $42.9M exceeded revenue, resulting in a 18% operating deficit.

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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $33,336,816

Investment Income $3,083,022

Other Revenue $69,703

TOTAL REVENUE $36,489,541

Expense Breakdown

Grants Paid $0

Salaries & Benefits $729,231

Fundraising Expenses $0

Other Expenses $2,251,880

TOTAL EXPENSES $42,914,420

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,489,541	$36,173,136	+0.0%
Expenses	$42,914,420	$36,227,145	+0.2%
Net Income	$-6,424,879	$-54,009	+118.0%

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

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

$432,327

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENNIS MCGUIRE	EMPLOYER TRUSTEE	2.00	Director	$2,100	$0	$26,100
TIMOTHY CASEY	EMPLOYER TRUSTEE	2.00	Director	$13,300	$0	$13,300
THOMAS BAYUSIK	UNION TRUSTEE	4.00	Director	$0	$55,112	$190,028
SALVATORE ABATE	UNION TRUSTEE	4.00	Director	$0	$55,118	$202,899
MICHELLE PISANO	CLAIMS PROCESSOR	50.00	Highest	$125,612	$54,111	$179,723

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	No data	No data	No data	No data
2024	$36,489,541	$42,914,420	$99,268,748	$-6,424,879
2023	$36,173,136	$36,227,145	$98,412,586	$-54,009
2022	$26,025,755	$22,629,265	$68,065,861	$3,396,490
2021	$27,305,082	$20,539,574	$76,943,831	$6,765,508
2020	$21,590,096	$18,674,066	$63,624,396	$2,916,030
2019	$19,546,360	$19,675,446	$61,148,907	$-129,086
2018	$20,811,374	$15,414,709	$58,863,711	$5,396,665

LOCAL 443 HEALTH SVCE & INS PLAN