LOCAL 298 HEALTH FUND I LOCAL 298 HEALTH BENEFIT FUND 1 (EIN 111967404) - 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

1955

Legal Domicile

Principal Officer

VICTOR LAGRECA

Phone

5168726690

Tax Period

2023-01-01 to 2023-12-31

LOCAL 298 HEALTH FUND I LOCAL 298 HEALTH BENEFIT FUND 1, founded in 1955, is a mid-sized nonprofit that reported $41.6M in total revenue in fiscal year 2023. Revenue surged 64% from the prior year, signaling strong growth momentum. Expenses of $39.7M left a modest 4% surplus.

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 $40,498,413

Investment Income $760,274

Other Revenue $294,934

TOTAL REVENUE $41,553,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,379,957

TOTAL EXPENSES $39,684,890

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,553,621	$25,395,807	+0.6%
Expenses	$39,684,890	$27,791,541	+0.4%
Net Income	$1,868,731	$-2,395,734	-1.8%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VICTOR LAGRECA	TRUSTEE/ UNION OFFICER	2.00	Director	$0	$0	$0
RALPH MASCOLO	TRUSTEE	0.50	Director	$0	$0	$0
JOSEPH GIOVINCO JR	FUND MANAGER	27.00	Officer	$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	$41,553,621	$39,684,890	$23,094,575	$1,868,731
2022	$25,395,807	$27,791,541	$19,412,373	$-2,395,734
2021	$24,797,848	$26,037,001	$21,565,304	$-1,239,153
2020	$22,364,900	$20,284,162	$19,713,310	$2,080,738
2019	$21,953,690	$20,150,668	$16,559,848	$1,803,022
2018	$19,656,921	$19,662,794	$15,198,013	$-5,873

LOCAL 298 HEALTH FUND I LOCAL 298 HEALTH BENEFIT FUND 1