USWU LOCAL 74 WELFARE FUND LOCAL 7… - 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

1962

Legal Domicile

Principal Officer

SAL ALLADEEN

Phone

7187297400

Tax Period

2023-01-01 to 2023-12-31

USWU LOCAL 74 WELFARE FUND LOCAL 74 WELFARE FUND, founded in 1962, is a mid-sized nonprofit that reported $38.5M in total revenue in fiscal year 2023. Expenses of $35.0M left a modest 9% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO MEMBERS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES HEALTH BENEFITS (HOSPITALIZATION, SURGICAL AND MAJOR MEDICAL, DENTAL, OPTICAL, DISABILITY, PRESCRIPTION DRUG, LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE) TO...

THE FUND PROVIDES HEALTH BENEFITS (HOSPITALIZATION, SURGICAL AND MAJOR MEDICAL, DENTAL, OPTICAL, DISABILITY, PRESCRIPTION DRUG, LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE) TO PARTICIPANTS HAVING ACHIEVED THE REQUIRED MINIMUM HOURS OF SERICE IN COVERED EMPLOYMENT.

Program 2

PROVIDE TRAINING COURSES AND SCHOLARSHIP BENEFITS TO ELIGIBLE MEMBERS OF CONTRIBUTING EMPLOYERS OR THEIR DEPENDENTS (FOR SCHOLARSHIP PURPOSES).

Program 3

TO PROVIDE LEGAL SERVICE BENEFITS TO ELIGIBLE MEMBERS OF CONTRIBUTING EMPLOYERS.

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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 $36,128,430

Investment Income $1,768,863

Other Revenue $559,835

TOTAL REVENUE $38,457,128

Expense Breakdown

Grants Paid $35,000

Salaries & Benefits $940,682

Fundraising Expenses $0

Other Expenses $2,116,742

TOTAL EXPENSES $35,015,557

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,457,128	$39,523,146	0.0%
Expenses	$35,015,557	$37,304,789	-0.1%
Net Income	$3,441,571	$2,218,357	+0.6%

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

$356,017

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAL ALLADEEN	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY MILLER	TRUSTEE	1.00	Director	$0	$0	$0
ED CLEVENGER	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN ROSARIO	TRUSTEE	1.00	Director	$0	$0	$0
ZACHARY HARKIN	FUND ADMINISTRATOR	25.00	Key Emp	$207,741	$40,021	$356,017
MARYANN FALCE	BENEFITS COORDINATOR	40.00	Highest	$109,738	$35,978	$145,716
GARY HAHN	ACCOUNTANT	10.00	Highest	$42,643	$19,154	$159,462

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	$38,457,128	$35,015,557	$105,996,991	$3,441,571
2022	$39,523,146	$37,304,789	$91,790,896	$2,218,357
2021	$40,795,163	$35,479,050	$102,929,420	$5,316,113
2020	$39,714,610	$34,854,482	$88,359,236	$4,860,128
2019	$40,675,146	$33,980,271	$77,070,528	$6,694,875
2018	$40,470,479	$37,074,420	$62,045,685	$3,396,059

USWU LOCAL 74 WELFARE FUND LOCAL 74 WELFARE FUND