LOCAL 342 LONG ISLAND PUBLIC SERVI… - 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

Phone

5163950600

Tax Period

2024-01-01 to 2024-12-31

LOCAL 342 LONG ISLAND PUBLIC SERVICE EMPLOYEES, founded in 1965, is a small nonprofit that reported $968K in total revenue in fiscal year 2024.

Mission

ORGANIZING AND NEGOTIATING FUNCTIONS OF THE UNION TO PROVIDE JOB OPPORTUNITIES TO MEMBERS.

Program Service Accomplishments

Program 1

ORGANIZING AND NEGOTIATING FUNCTIONS OF THE UNION TO PROVIDE JOB OPPORTUNITIES TO MEMBERS.

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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 $937,376

Investment Income $29,851

Other Revenue $1,176

TOTAL REVENUE $968,403

Expense Breakdown

Grants Paid $0

Salaries & Benefits $531,706

Fundraising Expenses $0

Other Expenses $413,431

TOTAL EXPENSES $945,137

Year-over-Year Comparison

	2024	2023	Change
Revenue	$968,403	$912,067	+0.1%
Expenses	$945,137	$903,050	+0.0%
Net Income	$23,266	$9,017	+1.6%

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

N/A

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

$326,839

Total Directors

$129,293

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM HENNESSEY	PRESIDENT	39.00	Officer	$260,304	$48,299	$308,603
JAMES F MAZZARELLA	SECRETARY	1.00	Officer	$15,000	$3,236	$18,236
KEVIN GLEASON	EXECUTIVE BOARD MEMBER	1.00	Director	$87,231	$7,112	$94,343
ARTHUR HENNESSEY	EXECUTIVE BOARD MEMBER	1.00	Director	$25,500	$2,413	$27,913
MICHAEL DENNIS	EXECUTIVE BOARD MEMBER	1.00	Director	$3,060	$533	$3,593
CHRISTOPHER SOTTILE	EXECUTIVE BOARD MEMBER	1.00	Director	$1,560	$162	$1,722
JEROME BEVINETTO	EXECUTIVE BOARD MEMBER	1.00	Director	$1,560	$162	$1,722

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	$968,403	$945,137	$1,244,782	$23,266
2023	$912,067	$903,050	$1,171,394	$9,017
2022	$906,386	$920,776	$1,132,671	$-14,390
2021	$927,284	$898,999	$1,242,292	$28,285
2020	$857,584	$801,140	$1,223,924	$56,444
2019	$853,875	$867,488	$1,115,044	$-13,613
2018	$879,310	$729,854	$1,114,168	$149,456

LOCAL 342 LONG ISLAND PUBLIC SERVICE EMPLOYEES