NYC ELECTRICAL DIVISION HEALTH AND WELFARE FUND - RETIRED MEMBERS (EIN 113014132) - 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

1976

Legal Domicile

Principal Officer

SEAN FITZPATRICK

Phone

7188201690

Tax Period

2023-01-01 to 2023-12-31

NYC ELECTRICAL DIVISION HEALTH AND WELFARE FUND - RETIRED MEMBERS, founded in 1976, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Expenses of $2.6M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE HEALTH AND OTHER BENEFITS TO COVERED 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 $2,207,694

Investment Income $132,085

Other Revenue $269

TOTAL REVENUE $2,340,048

Expense Breakdown

Grants Paid $0

Salaries & Benefits $134,877

Fundraising Expenses $0

Other Expenses $99,501

TOTAL EXPENSES $2,609,637

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,340,048	$2,396,044	0.0%
Expenses	$2,609,637	$2,117,356	+0.2%
Net Income	$-269,589	$278,688	-2.0%

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

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

$2,384

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD CASSIDY	FUND ADMINISTRATOR	20.00		$123,250	$0	$123,250
SEAN FITZPATRICK	Trustee	1.00	Director	$0	$0	$745
ROBERT PORT	Trustee	1.00	Director	$596	$0	$596
ANTHONY BASSO	Trustee	1.00	Director	$447	$0	$447
JOSEPH GUDDEMI	Trustee	1.00	Director	$298	$0	$298
BILL LECOMPLES	Trustee	1.00	Director	$149	$0	$149
GEORGE VARIAN	Trustee	1.00	Director	$149	$0	$149

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	$2,340,048	$2,609,637	$5,069,248	$-269,589
2022	$2,396,044	$2,117,356	$5,198,808	$278,688
2021	$2,516,317	$1,986,600	$5,415,798	$529,717
2020	$2,385,232	$1,744,384	$4,911,779	$640,848
2019	$2,327,031	$1,935,953	$4,236,745	$391,078
2018	$2,074,750	$2,021,831	$3,696,462	$52,919

NYC ELECTRICAL DIVISION HEALTH AND WELFARE FUND - RETIRED MEMBERS