LOCAL 677 HEALTH SERVICE AND INSURANCE PLAN (EIN 060691862) - 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

1958

Legal Domicile

Principal Officer

JOHN MURPHY

Phone

2037552906

Tax Period

2022-07-01 to 2023-06-30

LOCAL 677 HEALTH SERVICE AND INSURANCE PLAN, founded in 1958, is a mid-sized nonprofit that reported $28.8M in total revenue in fiscal year 2022. Revenue fell 36% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $11.5M, a strong 40% operating margin.

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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $13,809,656

Investment Income $15,022,516

Other Revenue $4,150

TOTAL REVENUE $28,836,322

Expense Breakdown

Grants Paid $0

Salaries & Benefits $330,541

Fundraising Expenses $0

Other Expenses $1,174,882

TOTAL EXPENSES $17,288,862

Year-over-Year Comparison

	2022	2021	Change
Revenue	$28,836,322	$45,159,765	-0.4%
Expenses	$17,288,862	$51,147,867	-0.7%
Net Income	$11,547,460	$-5,988,102	-2.9%

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

$2,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL AYOUB	(FORMER) EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
HELGA SCHMIDT	(FORMER) EMPLOYER TRUSTEE	2.00	Director	$2,800	$0	$2,800
MICHAEL RINALDI	(FORMER) UNION TRUSTEE	4.00	Director	$0	$0	$0
JOHN MURPHY	UNION TRUSTEE	4.00	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
2024	No data	No data	No data	No data
2023	$28,836,322	$17,288,862	$1,841,420	$11,547,460
2022	$45,159,765	$51,147,867	$95,770,287	$-5,988,102
2021	$45,772,053	$41,530,235	$112,858,561	$4,241,818
2020	$47,028,544	$34,371,321	$94,119,719	$12,657,223
2019	$39,249,774	$36,960,493	$87,794,025	$2,289,281
2018	$37,624,839	$35,409,492	$82,436,603	$2,215,347

LOCAL 677 HEALTH SERVICE AND INSURANCE PLAN