INDUSTRY AND LOCAL 338 WELFARE FUN… - 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

1950

Legal Domicile

Principal Officer

LORI POLESEL

Phone

4106837798

Tax Period

2024-07-01 to 2025-06-30

INDUSTRY AND LOCAL 338 WELFARE FUND C/O ASSOCIATED ADMINISTRATORS LLC, founded in 1950, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Net assets of $6.4M represent 27 months of operating reserves.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

Program Service Accomplishments

Program 1

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE 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 $2,548,723

Investment Income $337,661

Other Revenue $0

TOTAL REVENUE $2,886,384

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $239,120

TOTAL EXPENSES $2,879,774

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,886,384	$2,480,549	+0.2%
Expenses	$2,879,774	$3,222,009	-0.1%
Net Income	$6,610	$-741,460	-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

Employees

N/A

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
LORI POLESEL	TRUSTEE (UNION)	1.00	Director	$0	$0	$0
DANIEL MALDONADO	TRUSTEE (UNION)	1.00	Director	$0	$0	$0
CHRIS PALMER	TRUSTEE (EMPLOYER)	1.00	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	$2,886,384	$2,879,774	$6,782,202	$6,610
2024	$2,480,549	$3,222,009	$6,591,886	$-741,460
2023	$2,064,762	$2,530,193	$7,218,047	$-465,431
2022	$2,347,592	$2,388,172	$7,355,546	$-40,580
2021	$2,325,540	$2,505,508	$8,589,293	$-179,968
2020	$2,155,749	$2,473,713	$8,466,854	$-317,964
2019	$2,591,748	$2,515,870	$8,632,325	$75,878
2018	$2,487,643	$2,770,623	$8,522,489	$-282,980

INDUSTRY AND LOCAL 338 WELFARE FUND C/O ASSOCIATED ADMINISTRATORS LLC