LOCAL 670 WELFARE FUND JOINT BOARD OF TRUSTEES (EIN 132828665) - Form 990 Financial Analysis & Trantor Score

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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

1973

Legal Domicile

Principal Officer

THELMA WINSTON

Phone

2122678650

Tax Period

2023-01-01 to 2023-12-31

LOCAL 670 WELFARE FUND JOINT BOARD OF TRUSTEES, founded in 1973, is a mid-sized nonprofit in the Health Care sector that reported $24.4M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.6M, a strong 19% operating margin.

Mission

COLLECTIVELY BARGAINED MULTI-EMPLOYER WELFARE FUND CREATED TO PROVIDE HEALTH & WELFARE BENEFITS TO PARTICIPANTS & THEIR FAMILIES.

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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 $23,887,295

Investment Income $112,309

Other Revenue $391,809

TOTAL REVENUE $24,391,413

Expense Breakdown

Grants Paid $0

Salaries & Benefits $224,868

Fundraising Expenses $0

Other Expenses $466,498

TOTAL EXPENSES $19,810,933

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,391,413	$21,318,124	+0.1%
Expenses	$19,810,933	$17,445,345	+0.1%
Net Income	$4,580,480	$3,872,779	+0.2%

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

N/A

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

$345,859

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THELMA WINSTON	UNION TRUSTE	N/A	Director	$0	$36,480	$226,732
RICHARD MODICA	EMPLOYER TRU	N/A	Director	$0	$0	$0
DR ROBERT LAUDICINA	EMPLOYER TRU	N/A	Director	$0	$0	$0
LISA FONTAINE	UNION TRUSTE	0.00	Director	$0	$14,699	$119,127

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	$24,391,413	$19,810,933	$26,938,525	$4,580,480
2022	$21,318,124	$17,445,345	$21,041,000	$3,872,779
2021	$21,995,708	$20,098,374	$19,388,082	$1,897,334
2020	$24,079,682	$27,040,887	$16,470,556	$-2,961,205
2019	$22,204,166	$24,675,859	$20,518,012	$-2,471,693
2018	$20,914,406	$21,159,734	$22,264,703	$-245,328

LOCAL 670 WELFARE FUND JOINT BOARD OF TRUSTEES