NEW YORK SHIPPING ASSOCIATION-PPGU… - 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

Phone

2012430660

Tax Period

2025-01-01 to 2025-12-31

NEW YORK SHIPPING ASSOCIATION-PPGU WELFARE FUND & PLAN, founded in 1950, is a community nonprofit that reported $6.3M in total revenue in fiscal year 2025. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

SEE PART III, LINE 4a

Program Service Accomplishments

Program 1

Expenses: $6,283,920

A TAFT-HARTLEY ERISA EMPLOYEE WELFARE BENEFIT FUND THAT PROVIDES ON AN INSURED AND SELF-INSURED BASIS, FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS, HOSPITAL, SURGICAL, OPTICAL, DRUG, DENTAL AND...

A TAFT-HARTLEY ERISA EMPLOYEE WELFARE BENEFIT FUND THAT PROVIDES ON AN INSURED AND SELF-INSURED BASIS, FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS, HOSPITAL, SURGICAL, OPTICAL, DRUG, DENTAL AND OUTPATIENT MEDICAL BENEFITS; AND FOR ELIGIBLE PARTICIPANTS ONLY, NON-OCCUPATIONAL STATUTORY DISABILITY BENEFITS AND LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS. AS OF 12/31/2025 THE FUND PROVIDED THESE BENEFITS FOR 282 PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS (WHERE THE PROVISION OF BENEFITS FOR DEPENDENTS IS APPLICABLE).

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,282,231

Investment Income $1,563

Other Revenue $16,822

TOTAL REVENUE $6,300,616

Expense Breakdown

Grants Paid $0

Salaries & Benefits $130,900

Fundraising Expenses $0

Program Expenses $6,283,920

Other Expenses $240,265

TOTAL EXPENSES $6,283,920

Year-over-Year Comparison

	2025	2024	Change
Revenue	$6,300,616	$5,741,285	+0.1%
Expenses	$6,283,920	$5,775,344	+0.1%
Net Income	$16,696	$-34,059	-1.5%

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

$187,232

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MOHAMED ARBAB	UNION T'EE EMPL	26.00	Director	$77,000	$0	$110,000
RICHARD ROSSIELLO	UNION T'EE EMPL	14.00	Director	$42,000	$17,232	$77,232
SUSAN WINFREE	MGMT. TRUSTEE	0.00	Director	$0	$0	$0
JOSEPH FARLEY	MGMT. TRUSTEE	0.00	Director	$0	$0	$0
TERENCE DICKENSON	MGMT. TRUSTEE	0.00	Director	$0	$0	$0
MICHAEL DELVISCOVO	ALT. MGT T'EE	0.00	Director	$0	$0	$0
JOHN D WILLIAMS	ALT. MGT T'EE	0.00	Director	$0	$0	$0
DANIEL MASSARO	TREASURER	0.00	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
2025	$6,300,616	$6,283,920	$107,247	$16,696
2024	$5,741,285	$5,775,344	$88,756	$-34,059
2023	$5,733,546	$5,690,352	$118,983	$43,194
2022	$5,244,853	$5,210,631	$70,189	$34,222
2021	$4,741,509	$4,956,038	$42,517	$-214,529
2020	$5,126,760	$4,914,757	$261,589	$212,003
2019	$4,650,580	$4,668,224	$42,526	$-17,644
2018	$4,456,241	$4,476,067	$59,688	$-19,826

NEW YORK SHIPPING ASSOCIATION-PPGU WELFARE FUND & PLAN