LABORERS UNION LOCAL 1298 OF NASSAU & SUFFOLK COUNTIES WELFARE FUND (EIN 111628171) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1950

Legal Domicile

Phone

5164893644

Tax Period

2024-07-01 to 2025-06-30

LABORERS UNION LOCAL 1298 OF NASSAU & SUFFOLK COUNTIES WELFARE FUND, founded in 1950, is a mid-sized nonprofit that reported $41.6M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $37.7M left a modest 9% surplus.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE MEDICAL, VACATION, DENTAL, VISION, UNEMPLOYMENT, DISABILITY, AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $40,117,762

Investment Income $1,510,269

Other Revenue $0

TOTAL REVENUE $41,628,031

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,139,523

Fundraising Expenses $0

Other Expenses $1,186,940

TOTAL EXPENSES $37,676,268

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,628,031	$38,503,840	+0.1%
Expenses	$37,676,268	$36,866,234	+0.0%
Net Income	$3,951,763	$1,637,606	+1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$870,610

Total Directors

$2,746,649

Key Employees

$956,711

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE F TRUICKO JR	UNION TRUSTEE	1.00	Director	$0	$250,072	$706,443
GEORGE S TRUICKO III	UNION TRUSTEE	1.00	Director	$0	$219,625	$601,975
FRANK DAMIANO JR	UNION TRUSTEE	1.00	Director	$0	$209,629	$539,055
JAMES WINSHIP	UNION TRUSTEE	1.00	Director	$0	$121,645	$413,659
PHILIP BEYER	EMPLOYER TRUSTEE	0.00	Director	$0	$0	$0
DONNA DEFEDE	EMPLOYER TRUSTEE	0.00	Director	$0	$0	$0
JASON GOLDEN	EMPLOYER TRUSTEE	0.00	Director	$0	$0	$0
MARC HERBST	EMPLOYER TRUSTEE	0.00	Director	$0	$0	$0
WILLIAM FLYNN	UNION TRUSTEE	1.00	Director	$0	$196,378	$485,517
ROBIN SHERMAN	FUND OFFICER	23.00	Officer	$230,630	$73,286	$322,116
JAMES CORNELL	FUND OFFICER	23.50	Officer	$245,136	$73,286	$318,422
SAMANTHA LAYTON	FUND OFFICER	40.00	Officer	$166,918	$63,154	$230,072
GUY TRUICKO	KEY EMPLOYEE	1.00	Key Emp	$0	$209,030	$513,369
ANNALISA DEFALCO	FUND ADMINISTRATOR	13.00	Key Emp	$370,056	$73,286	$443,342

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	$41,628,031	$37,676,268	$53,942,144	$3,951,763
2024	$38,503,840	$36,866,234	$48,874,436	$1,637,606
2023	$36,832,708	$31,459,007	$46,114,708	$5,373,701
2022	$33,460,877	$34,985,498	$39,440,180	$-1,524,621
2021	$34,074,856	$34,031,806	$42,836,410	$43,050
2020	$31,281,771	$29,732,316	$42,569,580	$1,549,455
2019	$31,042,818	$30,039,243	$40,301,826	$1,003,575
2018	$26,131,565	$25,308,696	$40,841,467	$822,869

LABORERS UNION LOCAL 1298 OF NASSAU & SUFFOLK COUNTIES WELFARE FUND