LOCAL 580 - VACATION FUND (EIN 132874176) - 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

1956

Legal Domicile

Principal Officer

BRENDAN TORMEY

Phone

2126955206

Tax Period

2023-01-01 to 2023-12-31

LOCAL 580 - VACATION FUND, founded in 1956, is a mid-sized nonprofit that reported $32.9M in total revenue in fiscal year 2023.

Mission

TO PROVIDE VACATION BENEFITS 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $32,217,670

Investment Income $718,576

Other Revenue $0

TOTAL REVENUE $32,936,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $180,533

Fundraising Expenses $0

Other Expenses $170,318

TOTAL EXPENSES $33,722,257

Year-over-Year Comparison

	2023	2022	Change
Revenue	$32,936,246	$34,338,279	0.0%
Expenses	$33,722,257	$36,736,121	-0.1%
Net Income	$-786,011	$-2,397,842	-0.7%

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

$304,418

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER MYERS - THRU 1023	UNION TRUSTEE - CO CHAIR	2.00	Director	$0	$0	$0
STEVEN DONOFRIO - EFF 523	UNION TRUSTEE	2.00	Director	$0	$0	$0
KEVIN MCKEON	UNION TRUSTEE	2.00	Director	$0	$0	$0
THOMAS MILTON	UNION TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH NOLAN	UNION TRUSTEE	2.00	Director	$0	$0	$0
PETER CARRIERO JR	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
RANDALL MENT	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
BRENDAN TORMEY	FUND ADMINISTRATOR	1.00	Officer	$0	$124,306	$304,418

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	$32,936,246	$33,722,257	$26,961,967	$-786,011
2022	$34,338,279	$36,736,121	$26,363,593	$-2,397,842
2021	$39,758,667	$35,453,723	$29,969,416	$4,304,944
2020	$34,854,473	$41,844,373	$25,764,586	$-6,989,900
2019	$46,031,433	$51,331,726	$32,836,752	$-5,300,293
2018	$50,860,365	$46,719,064	$38,253,857	$4,141,301

LOCAL 580 - VACATION FUND