ADDITIONAL SECURITY BENEFITS PLAN OF THE ELECTRICAL INDUSTRY (EIN 112212659) - 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

1969

Legal Domicile

Principal Officer

HUMBERTO J RESTREPO

Phone

7185912000

Tax Period

2023-10-01 to 2024-09-30

ADDITIONAL SECURITY BENEFITS PLAN OF THE ELECTRICAL INDUSTRY, founded in 1969, is a community nonprofit that reported $9.3M in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $24.2M exceeded revenue, resulting in a 160% operating deficit.

Mission

The Collection and Investment of Funds received from Electrical Contractors for the Purpose of Providing Benefits to Members of Local Union No. 3.

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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 $0

Investment Income $9,310,703

Other Revenue $0

TOTAL REVENUE $9,310,703

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,637,365

TOTAL EXPENSES $24,207,077

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,310,703	$6,308,811	+0.5%
Expenses	$24,207,077	$25,456,080	0.0%
Net Income	$-14,896,374	$-19,147,269	-0.2%

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

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
John Mannino	Trustee	1	Director	$0	$0	$0
Craig Gilston	Trustee	1	Director	$0	$0	$0
Lance Van Arsdale	Trustee	1	Director	$0	$0	$0
Carol Kleinberg	Trustee	1	Director	$0	$0	$0
Steven Lazzaro	Trustee	1	Director	$0	$0	$0
Christopher Erikson	Trustee	1	Director	$0	$0	$0
William Hofving	Trustee	1	Director	$0	$0	$0
Thomas Cleary	Trustee	1	Director	$0	$0	$0
Joseph Proscia	Trustee	1	Director	$0	$0	$0
Kristine DeNapoli	Trustee	1	Director	$0	$0	$0
Joseph Santigate	Trustee	1	Director	$0	$0	$0
Stephen Gianotti	Trustee	1	Director	$0	$0	$0
Christopher Erikson Jr	Trustee	1	Director	$0	$0	$0
John Villafane	Trustee	1	Director	$0	$0	$0
Robert Amabile	Trustee	1	Director	$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	$9,310,703	$24,207,077	$354,082,656	$-14,896,374
2023	$6,308,811	$25,456,080	$364,720,882	$-19,147,269
2022	$4,190,561	$26,976,645	$391,533,266	$-22,786,084
2021	$6,846,492	$25,975,434	$408,170,316	$-19,128,942
2020	$8,773,088	$28,240,773	$431,347,379	$-19,467,685
2019	$10,698,365	$32,019,126	$471,826,944	$-21,320,761
2018	$2,500,901	$35,912,005	$489,601,011	$-33,411,104

ADDITIONAL SECURITY BENEFITS PLAN OF THE ELECTRICAL INDUSTRY