UNITED WELFARE FUND (EIN 111823976) - 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

1956

Legal Domicile

Principal Officer

WILLIAM SWEENEY

Phone

9292441222

Tax Period

2024-05-01 to 2025-04-30

UNITED WELFARE FUND, founded in 1956, is a major nonprofit that reported $200.9M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Net assets of $553.9M represent 33 months of operating reserves.

Mission

TO PROVIDE HEALTH, SECURITY, DEATH AND OTHER SUPPLEMENTAL WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES.

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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 $191,808,582

Investment Income $9,051,136

Other Revenue $44,669

TOTAL REVENUE $200,904,387

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,264,019

Fundraising Expenses $0

Other Expenses $11,265,196

TOTAL EXPENSES $212,382,805

Year-over-Year Comparison

	2024	2023	Change
Revenue	$200,904,387	$224,519,776	-0.1%
Expenses	$212,382,805	$203,481,537	+0.0%
Net Income	$-11,478,418	$21,038,239	-1.5%

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

$449,584

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN S AMES	UNION TRUSTEE	70.00	Director	$0	$0	$0
LORI AMES	UNION TRUSTEE	70.00	Director	$0	$0	$0
PETER DEVITO JR	UNION TRUSTEE	65.00	Director	$0	$0	$0
CHARLES SHIMKUS	UNION TRUSTEE	65.00	Director	$0	$0	$0
TROY ANDERSON	UNION TRUSTEE	65.00	Director	$0	$0	$0
JAMES SCAGNELLI	UNION TRUSTEE THRU 12/2024	65.00	Director	$0	$0	$0
NICHOLAS DIPPOLITO	UNION TRUSTEE EFF. 01/2025	65.00	Director	$0	$0	$0
LOU LOIACONO	UNION TRUSTEE	65.00	Director	$0	$0	$0
ERIC PEREZ	UNION TRUSTEE	65.00	Director	$0	$0	$0
LARRY AMATULLI	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
DINA BURNS	EMPLOYER TRUSTEE EFF. 07/2024	10.00	Director	$0	$0	$0
MICHAEL BROWN	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
DIANE CAFIERO	EMPLOYER TRUSTEE EFF. 01/2025	10.00	Director	$0	$0	$0
MARC ZERGEBEL	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
CARL CURCIO	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
GANDOLFO SCHIAVONE	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
KEVIN NOLAN	EMPLOYER TRUSTEE THRU 12/2024	10.00	Director	$0	$0	$0
JACQUELINE HART	EMPLOYER TRUSTEE	10.00	Director	$0	$0	$0
WILLIAM SWEENEY	SECURITY FUND ADMIN.	65.00	Officer	$0	$0	$0
JOSEPH M PECORA	WELFARE FUND ADMIN.	65.00	Officer	$333,002	$116,582	$449,584
THOMAS MACK	WELFARE FUND ASSIST. ADMIN	40.00	Highest	$287,808	$43,751	$331,559
MATTHEW T POWER	IT	40.00	Highest	$239,023	$62,468	$301,491
JAMES MACK	SECURITY FUND ASSIST. ADMI	40.00	Highest	$245,885	$67,662	$313,547
STEVEN ELLIOTT JR	CIO	65.00	Highest	$313,486	$120,627	$434,113
CEDUAN LIU	IT	40.00	Highest	$257,068	$56,779	$313,847

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	$200,904,387	$212,382,805	$562,609,849	$-11,478,418
2024	$224,519,776	$203,481,537	$549,647,736	$21,038,239
2023	$211,235,056	$218,896,683	$534,072,115	$-7,661,627
2022	$188,463,045	$207,452,512	$539,950,213	$-18,989,467
2021	$196,426,928	$171,703,371	$587,072,303	$24,723,557
2020	$184,894,188	$170,878,197	$566,453,119	$14,015,991
2019	$192,777,975	$180,384,150	$536,913,753	$12,393,825
2018	$185,080,182	$174,909,664	$518,010,672	$10,170,518

UNITED WELFARE FUND