LOCAL 298 HEALTH FUND II (EIN 111955915) - 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

VICTOR LAGRECA

Phone

5168726690

Tax Period

2023-08-01 to 2024-07-31

LOCAL 298 HEALTH FUND II, founded in 1958, is a community nonprofit in the Mutual Benefit sector that reported $5.2M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 30% operating margin.

Mission

TO PROVIDE HEALTH BENEFITS 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,952,561

Investment Income $85,289

Other Revenue $137,016

TOTAL REVENUE $5,174,866

Expense Breakdown

Grants Paid $0

Salaries & Benefits $578,968

Fundraising Expenses $0

Program Expenses $3,619,234

Other Expenses $393,332

TOTAL EXPENSES $3,621,972

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,174,866	$3,803,578	+0.4%
Expenses	$3,621,972	$3,797,619	0.0%
Net Income	$1,552,894	$5,959	+259.6%

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

Governance

Voting Members

Independent Members

N/A

Employees

N/A

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

$505,738

Key Employees

$728,800

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH GIOVINCO	TRUSTEE/FUND EMPLOYEE	4.00	Director	$15,446	$212,000	$502,738
RALPH MASCOLO	TRUSTEE	0.50	Director	$3,000	$0	$3,000
VICTOR LAGRECA	FUND MGR.	17.00	Key Emp	$179,126	$325,000	$728,800

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	$5,174,866	$3,621,972	$4,947,409	$1,552,894
2023	$3,803,578	$3,797,619	$3,396,034	$5,959
2022	$3,852,311	$3,671,232	$3,226,632	$181,079
2022	$3,718,860	$4,110,688	$3,101,056	$-391,828
2021	$4,460,186	$4,321,788	$3,667,434	$138,398
2020	$4,471,377	$4,811,265	$3,571,420	$-339,888
2020	$4,593,117	$4,138,263	$3,666,623	$454,854
2019	$4,431,770	$4,350,821	$3,236,081	$80,949
2018	$4,235,567	$3,359,782	$3,539,424	$875,785

LOCAL 298 HEALTH FUND II