LOCAL 282 WELFARE TRUST 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

1950

Legal Domicile

Principal Officer

THOMAS GESUALDI

Phone

5164882822

Tax Period

2024-01-01 to 2024-12-31

LOCAL 282 WELFARE TRUST FUND, founded in 1950, is a major nonprofit that reported $128.3M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE HEALTH, WELFARE AND OTHER BENEFITS TO PLAN PARTICIPANTS.

Program Service Accomplishments

Program 1

PROVIDED HEALTH, WELFARE AND OTHER BENEFITS TO PLAN 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $103,159,724

Investment Income $11,964,572

Other Revenue $13,159,109

TOTAL REVENUE $128,283,405

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,570,495

Fundraising Expenses $0

Other Expenses $6,641,454

TOTAL EXPENSES $136,743,248

Year-over-Year Comparison

	2024	2023	Change
Revenue	$128,283,405	$104,672,572	+0.2%
Expenses	$136,743,248	$99,863,938	+0.4%
Net Income	$-8,459,843	$4,808,634	-2.8%

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

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
MARIO BULDING	FUND MANAGER	18.25		$295,886	$139,352	$435,238
THOMAS ZULTKO	INSTRUCTOR	0.00		$157,971	$74,699	$232,670
Hong Ying Li	Controller	15.50		$115,162	$57,621	$172,783
Ho Y Ho	Payroll auditor	16.00		$103,811	$64,162	$167,973
OCTAVIA MALONE	Pension Clerk	0.00		$107,173	$57,334	$164,507
PATRICK SHURE	Accounts Payable	32.00		$107,039	$56,593	$163,632
FRANK FINKEL	Trustee	1.50	Director	$0	$0	$0
MARC HERBST	Trustee	1.50	Director	$0	$0	$0
THOMAS CORBETT	Trustee	1.50	Director	$0	$0	$0
LOUIS BISIGNANO	Trustee	1.50	Director	$0	$0	$0
THOMAS GESUALDI	Trustee	1.50	Director	$0	$0	$0
MICHAEL BOURGAL JR	Trustee	1.50	Director	$0	$0	$0
MICHAEL O'TOOLE	Trustee	1.50	Director	$0	$0	$0
DARIN JEFFERS	Trustee	1.50	Director	$0	$0	$0
ROBERT G WESSELS	Trustee	1.50	Director	$0	$0	$0
ROCCO TOMASSETTI SR	Trustee	1.50	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	$128,283,405	$136,743,248	$184,705,462	$-8,459,843
2023	$104,672,572	$99,863,938	$182,381,277	$4,808,634
2022	$103,717,191	$104,438,644	$184,372,400	$-721,453
2022	$84,366,474	$83,189,600	$170,623,482	$1,176,874
2021	$101,717,095	$92,579,245	$185,452,034	$9,137,850
2020	$105,615,403	$114,091,318	$178,831,652	$-8,475,915