MADELAINE LOCAL 1222 WELFARE FUND

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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

1991

Legal Domicile

Principal Officer

NORMAN GOLD

Phone

5168897756

Tax Period

2024-04-01 to 2025-03-31

MADELAINE LOCAL 1222 WELFARE FUND, founded in 1991, is a small nonprofit that reported $331K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year.

Mission

Providing Medical Benefits to members and their families

Program Service Accomplishments

Program 1

Doctors visits, diagnosis and testing, hospital stays, surgery, anesthesia, prescriptions, vision care, dental and emergency room care.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $331,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $331,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $58,438

Fundraising Expenses $0

Other Expenses $116,613

TOTAL EXPENSES $325,579

Year-over-Year Comparison

	2024	2023	Change
Revenue	$331,000	$387,000	-0.1%
Expenses	$325,579	$380,655	-0.1%
Net Income	$5,421	$6,345	-0.1%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORMAN GOLD	EMPLOYER TRUSTEE	3.00	Director	$0	$0	$0
JAMES GANGALE	UNION TRUSTEE	3.00	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
2025	$331,000	$325,579	$70,446	$5,421
2024	$387,000	$380,655	$60,962	$6,345
2023	$334,000	$332,703	$55,056	$1,297
2022	$551,085	$425,731	$63,410	$125,354
2021	$527,713	$614,659	$29,285	$-86,946
2020	$457,423	$454,870	$29,089	$2,553
2019	$499,061	$501,675	$24,748	$-2,614
2018	$461,082	$448,736	$24,486	$12,346