LOCAL 406-C PRINTING PACKAGING AND PRODUCTION WORKERS UNION (EIN 116076743) - 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

1947

Legal Domicile

Principal Officer

MICHAEL LASPINA

Phone

5162936868

Tax Period

2024-01-01 to 2024-12-31

LOCAL 406-C PRINTING PACKAGING AND PRODUCTION WORKERS UNION, founded in 1947, is a small nonprofit that reported $256K in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $238K left a modest 7% surplus.

Mission

TO HELP PROVIDE AND PROTECT MEMBERS WITH COLLECTIVE BARGAINING AGREEMENTS & CONTRACTS AND TO DEFEND MEMBERS IF VIOLATIONS OCCUR.

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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 $203,669

Program Service Revenue $0

Investment Income $38,553

Other Revenue $13,904

TOTAL REVENUE $256,126

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,342

Fundraising Expenses $0

Other Expenses $148,391

TOTAL EXPENSES $237,733

Year-over-Year Comparison

	2024	2023	Change
Revenue	$256,126	$191,079	+0.3%
Expenses	$237,733	$262,880	-0.1%
Net Income	$18,393	$-71,801	-1.3%

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

$37,248

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL LASPINA	PRESIDENT	35.00	Officer	$27,384	$0	$27,384
LIISA MAY	SECRE/TREASURER	35.00	Officer	$8,451	$0	$8,451
JUDY WEINBERG	CHAIRMAN	35.00	Officer	$1,413	$0	$1,413
DEBORAH MORRIS	REC SECRETARY	35.00	Officer	$0	$0	$0
ZACHARY DOWDY	Vice President	35.00	Officer	$0	$0	$0
DON SALVITTI	BUILD MAINT VP	37.50	Officer	$0	$0	$0
BARRY HOOGHKIRK	Vice President	35.00	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	$256,126	$237,733	$425,550	$18,393
2023	$191,079	$262,880	$416,545	$-71,801
2022	$185,476	$223,792	$503,575	$-38,316
2021	$172,626	$217,021	$572,947	$-44,395
2020	$193,058	$196,315	$587,642	$-3,257
2019	$227,959	$229,785	$594,026	$-1,826
2018	$348,193	$356,160	$598,436	$-7,967

LOCAL 406-C PRINTING PACKAGING AND PRODUCTION WORKERS UNION