NYC LOCAL 246 RETIREE WELFARE FUND (EIN 132864287) - 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

1995

Legal Domicile

Principal Officer

JOSEPH COLANGELO

Phone

2122330616

Tax Period

2023-01-01 to 2023-12-31

NYC LOCAL 246 RETIREE WELFARE FUND, founded in 1995, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $3.1M exceeded revenue, resulting in a 16% operating deficit.

Mission

PROVIDE SUPPLEMENTAL HEALTH BENEFITS NOT PROVIDED BY EMPLOYER

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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 $1,878,406

Investment Income $187,600

Other Revenue $558,870

TOTAL REVENUE $2,624,876

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,472

Fundraising Expenses $0

Other Expenses $361,169

TOTAL EXPENSES $3,051,841

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,624,876	$2,314,279	+0.1%
Expenses	$3,051,841	$2,906,889	+0.0%
Net Income	$-426,965	$-592,610	-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

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

$3,472

Total Directors

$3,472

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY REYES	Trustee	2.00	Officer Director	$1,736	$0	$1,736
JASON VETTER	Trustee	2.00	Officer Director	$1,736	$0	$1,736
DOMINIC BAVARO	Trustee	2.00	Director	$0	$0	$0
MARK BARDES	Trustee	2.00	Officer Director	$0	$0	$0
JOSEPH COLANGELO	Trustee/Admin	10.00	Officer Director	$0	$0	$0
THOMAS GRAZIANO	Trustee	2.00	Director	$0	$0	$0
PETER TUCCI	Trustee	2.00	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
2024	No data	No data	No data	No data
2023	$2,624,876	$3,051,841	$6,172,596	$-426,965
2022	$2,314,279	$2,906,889	$6,261,910	$-592,610
2021	$3,187,109	$2,752,924	$7,378,826	$434,185
2020	$3,324,041	$2,447,911	$7,360,900	$876,130
2019	$2,667,829	$2,551,875	$6,003,981	$115,954
2018	$2,825,398	$2,338,890	$5,165,615	$486,508

NYC LOCAL 246 RETIREE WELFARE FUND