LOCAL 15 15A 15D OPERATING ENGINEE… - 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

1969

Legal Domicile

Principal Officer

CATHERINE CHASE

Phone

2122557657

Tax Period

2025-01-01 to 2025-12-31

LOCAL 15 15A 15D OPERATING ENGINEERS APPR SKILL IMPROVEMENT & SAFETY FUND, founded in 1969, is a community nonprofit that reported $6.2M in total revenue in fiscal year 2025. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $6.9M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE APPRENTICE TRAINING SKILL IMPROVEMENT AND SAFETY EDUCATION TO ELIGIBLE PARTICIPANTS.

Program Service Accomplishments

Program 1

Expenses: $6,574,874 Revenue: $5,665,379

TO PROVIDE APPRENTICE TRAINING SKILL IMPROVEMENT AND SAFETY EDUCATION 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 (2025)

Revenue Breakdown

Contributions & Grants $397,496

Program Service Revenue $5,649,354

Investment Income $115,303

Other Revenue $16,025

TOTAL REVENUE $6,178,178

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,942,492

Fundraising Expenses $0

Program Expenses $6,574,874

Other Expenses $1,983,180

TOTAL EXPENSES $6,925,672

Year-over-Year Comparison

	2025	2024	Change
Revenue	$6,178,178	$8,968,416	-0.3%
Expenses	$6,925,672	$6,491,111	+0.1%
Net Income	$-747,494	$2,477,305	-1.3%

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

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

$476,916

Total Directors

Key Employees

$454,564

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHERINE CHASE	FUND ADMINISTRATOR	2.00	Officer	$0	$80,091	$476,916
PATRICK PETERSON	FUND DIRECTOR	40.00	Key Emp	$367,086	$87,478	$454,564
MARIE SULLIVAN	COORDINATOR	40.00	Highest	$316,773	$82,719	$399,492
CRAIG PIANO	INSTRUCTOR	40.00	Highest	$289,776	$118,422	$408,198
MICHAEL NAPOLITANO	INSTRUCTOR	40.00	Highest	$289,166	$118,178	$407,344
ALBERT CRAWLEY	INSTRUCTOR	40.00	Highest	$240,908	$101,647	$342,555
RAYMOND PATRICE	INSTRUCTOR	40.00	Highest	$198,240	$84,123	$282,363
THOMAS CALLAHAN	UNION TRUSTEE	1.00	Director	$0	$0	$0
JOHN MCNAMARA	UNION TRUSTEE - EFF 01/25	1.00	Director	$0	$0	$0
JAMES CALLAHAN	UN/ALT TRUSTEE - EFF 09/25	1.00	Director	$0	$0	$0
ANTHONY LAROSA	ALTERNATE UNION TRUSTEE - THRU 06/25	1.00	Director	$0	$0	$0
ROBERT SHAW JR	ALTERNATE UNION TRUSTEE - THRU 04/25	1.00	Director	$0	$0	$0
MICHAEL SALGO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT WESSELS	EMPLOYER TRUSTEE - EFF 09/25	1.00	Director	$0	$0	$0
WILLIAM TYSON	EMPLOYER TRUSTEE - THRU 09/25	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	$6,178,178	$6,925,672	$5,848,981	$-747,494
2024	$8,968,416	$6,491,111	$6,503,600	$2,477,305
2023	$5,329,677	$6,199,166	$4,193,042	$-869,489
2022	$5,054,560	$5,510,808	$4,766,784	$-456,248
2021	$4,922,164	$5,212,438	$5,400,751	$-290,274
2020	$5,567,391	$5,095,571	$5,715,281	$471,820
2019	$5,919,713	$5,051,210	$5,126,697	$868,503
2018	$5,750,813	$4,668,936	$4,207,310	$1,081,877

LOCAL 15 15A 15D OPERATING ENGINEERS APPR SKILL IMPROVEMENT & SAFETY FUND