LEGAL SERVICES FUND OF THE ELECTRI… - Form 990 Financial Data

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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

1987

Legal Domicile

Principal Officer

HUMBERTO J RESTREPO

Phone

7185912000

Tax Period

2023-10-01 to 2024-09-30

LEGAL SERVICES FUND OF THE ELECTRICAL INDUSTRY, founded in 1987, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 110% from the prior year, signaling strong growth momentum. Net assets of $6.5M represent 52 months of operating reserves.

Mission

The Plan has as its principal activities the collection and investment of funds received from electrical contractors for the purpose of providing legal services benefits to eligible members of the electrical industry under the terms of the collective bargaining agreement and the related Agreement and Working Rules between Local Union No 3 of the IBEW, AFL-CIO and the electrical contractors' associations and independent electrical contractors.

Program Service Accomplishments

Program 1

To provide legal service benefits to members of the electrical industry.

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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 $1,315,932

Investment Income $171,490

Other Revenue $0

TOTAL REVENUE $1,487,422

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $132,766

TOTAL EXPENSES $1,458,329

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,487,422	$707,835	+1.1%
Expenses	$1,458,329	$1,471,690	0.0%
Net Income	$29,093	$-763,855	-1.0%

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
THOMAS CLEARY	Trustee	1	Director	$0	$0	$0
STEPHEN GIANOTTI	Trustee	1	Director	$0	$0	$0
JOHN MANNINO	Trustee	1	Director	$0	$0	$0
CHRISTOPHER ERIKSON JR	Trustee	1	Director	$0	$0	$0
KRISTINE DENAPOLI	Trustee	1	Director	$0	$0	$0
CHRISTOPHER ERIKSON	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	$1,487,422	$1,458,329	$6,827,419	$29,093
2023	$707,835	$1,471,690	$6,285,382	$-763,855
2022	$459,131	$1,366,953	$6,913,547	$-907,822
2021	$335,660	$1,362,523	$8,810,885	$-1,026,863
2020	$547,537	$1,310,702	$10,281,718	$-763,165
2019	$451,119	$1,043,494	$10,733,248	$-592,375
2018	$131,533	$912,133	$12,791,922	$-780,600

LEGAL SERVICES FUND OF THE ELECTRICAL INDUSTRY