UNITED FEDERATION OF TEACHERS WELF… - 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

1965

Legal Domicile

Principal Officer

GEOFREY SORKIN

Phone

2125390500

Tax Period

2024-10-01 to 2025-09-30

UNITED FEDERATION OF TEACHERS WELFARE FUND, founded in 1965, is a major nonprofit that reported $453.5M in total revenue in fiscal year 2024. Expenses of $412.8M left a modest 9% surplus.

Mission

THE FUND'S PRIMARY MISSION IS TO PROVIDE SUPPLEMENTARY WELFARE BENEFITS TO ELIGIBLE EMPLOYEES AND RETIREES AND FOR THE ADDITIONAL PURPOSE OF MAKING AVAILABLE COLLEGE SCHOLARSHIPS FOR CHILDREN FROM LOW INCOME FAMILIES WHO HAVE GRADUATED FROM THE CITY'S PUBLIC SCHOOLS.

Program Service Accomplishments

Program 1

PROVIDE SUPPLEMENTARY WELFARE BENEFITS TO ELIGIBLE EMPLOYEES AND RETIREES.

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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 $398,561,673

Investment Income $40,961,602

Other Revenue $14,004,413

TOTAL REVENUE $453,527,688

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,232,974

Fundraising Expenses $0

Other Expenses $18,738,193

TOTAL EXPENSES $412,844,750

Year-over-Year Comparison

	2024	2023	Change
Revenue	$453,527,688	$435,815,096	+0.0%
Expenses	$412,844,750	$403,652,612	+0.0%
Net Income	$40,682,938	$32,162,484	+0.3%

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

165

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

$320,879

Total Directors

$1,217,825

Key Employees

$329,453

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MULGREW	TRUSTEE	2.00	Director	$0	$84,574	$431,656
KAREN ALFORD	TRUSTEE	1.00	Director	$0	$52,691	$266,048
THOMAS MURPHY	TRUSTEE - FORMER	1.00	Director	$0	$0	$61,923
RICHARD MANTELL	TRUSTEE	1.00	Director	$0	$19,204	$96,018
LEO GORDON	TRUSTEE	1.00	Director	$0	$20,667	$103,335
MARY VACCARO	TRUSTEE	1.00	Director	$0	$51,251	$258,845
GEOFREY SORKIN	EXECUTIVE DIRECTOR	35.00	Officer	$247,988	$72,891	$320,879
GEORGE REIS	FUND COMPTROLLER	35.00	Key Emp	$228,518	$100,935	$329,453
JOSEPH USATCH	ASSISTANT DIRECTOR	33.00	Highest	$202,973	$58,277	$261,250
MEI QING CHEN	ASSOCIATE COMPTROLLER	35.00	Highest	$203,439	$94,665	$298,104
ANESA SOLEYN	ASSISTANT DIRECTOR	35.00	Highest	$181,676	$59,954	$241,630
WILLIAM BARRETT	CHIEF TECHNOLOGY OFFICER	35.00	Highest	$225,254	$100,119	$325,373
MARK PEARSON	DIRECTOR OF INFORMATION SY	35.00	Highest	$179,624	$88,711	$268,335

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	$453,527,688	$412,844,750	$1,118,013,425	$40,682,938
2025	$453,527,688	$412,844,750	$1,118,013,425	$40,682,938
2024	$435,815,096	$403,652,612	$1,059,582,682	$32,162,484
2023	$411,902,353	$352,933,277	$988,654,030	$58,969,076
2022	$439,631,499	$349,896,380	$842,387,577	$89,735,119
2021	$434,332,942	$335,712,905	$830,953,037	$98,620,037
2020	$429,260,582	$327,728,374	$721,382,820	$101,532,208
2019	$445,023,887	$346,497,386	$590,588,011	$98,526,501
2018	$384,527,570	$299,864,110	$484,162,288	$84,663,460

UNITED FEDERATION OF TEACHERS WELFARE FUND