OPERATING ENGINEERS LOCAL 478 TRAINING AND SKILL IMPROVEMENT FUND

EIN: 060899313 501(c)(3) Employment

HAMDEN, CT

Total Revenue
$5,990,644
Total Expenses
$3,998,373
Total Assets
$12,669,992
Net Assets
$12,524,984
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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
1972
Legal Domicile
CT
Principal Officer
DEBORAH PALMIERI
Phone
2032889261
Tax Period
2024-01-01 to 2024-12-31

OPERATING ENGINEERS LOCAL 478 TRAINING AND SKILL IMPROVEMENT FUND, founded in 1972, is a community nonprofit in the Employment sector that reported $6.0M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.0M, a strong 33% operating margin.

Mission

TO PROVIDE TRAINING, SKILL IMPROVEMENT, AND SAFETY EDUCATION TO ELIGIBLE PARTICIPANTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,500
Program Service Revenue $5,547,294
Investment Income $281,982
Other Revenue $158,868
TOTAL REVENUE $5,990,644

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,315,940
Fundraising Expenses $0
Program Expenses $3,029,959
Other Expenses $1,682,433
TOTAL EXPENSES $3,998,373

Year-over-Year Comparison

2024 2023 Change
Revenue $5,990,644 $5,031,500 +0.2%
Expenses $3,998,373 $3,765,326 +0.1%
Net Income $1,992,271 $1,266,174 +0.6%
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
4
Independent Members
4
Employees
37
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
3
$800,390
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER COZZI UNION TRUSTEE 1.00
Director
$0 $0 $0
RIC SUZIO EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
DONALD SHUBERT EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
SCOTT SWICK UNION TRUSTEE 1.00
Director
$0 $0 $0
GREGG STREDE TRAINING DIRECTOR 35.00
Officer
$196,153 $115,306 $311,459
DOROTHY SINISCALCHI EXEC DIRECTOR - THRU 4/24 4.00
Officer
$0 $85,979 $287,841
DEBORAH PALMIERI EXEC DIRECTOR -EFF 4/24 4.00
Officer
$0 $62,288 $201,090
JOHN DADDONA INSTRUCTOR 35.00
Highest
$173,368 $120,128 $293,496
WINFIELD JCHESKE JR INSTRUCTOR 35.00
Highest
$128,380 $95,466 $223,846
DAVID ALARCON INSTRUCTOR 35.00
Highest
$103,709 $90,533 $194,242
SANTO TUDISAC INSTRUCTOR 35.00
Highest
$103,709 $90,533 $194,242
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 $5,990,644 $3,998,373 $12,669,992 $1,992,271
2023 $5,031,500 $3,765,326 $10,923,715 $1,266,174
2022 $4,089,557 $3,729,155 $9,600,701 $360,402
2021 $4,011,705 $3,429,253 $9,342,124 $582,452
2020 $3,449,994 $3,312,453 $8,986,788 $137,541
2019 $3,612,513 $3,306,140 $8,502,331 $306,373
2018 $3,562,686 $3,072,064 $8,105,959 $490,622
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