CORRECTION OFFICERS' BENEVOLENT ASSOCIAT (EIN 133097380) - 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

1901

Legal Domicile

Principal Officer

ANGEL CASTRO

Phone

2122748000

Tax Period

2023-07-01 to 2024-06-30

CORRECTION OFFICERS' BENEVOLENT ASSOCIAT, founded in 1901, is a community nonprofit in the Employment sector that reported $6.4M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $9.2M exceeded revenue, resulting in a 43% operating deficit.

Mission

TO ORGANIZE AND REPRESENT EMPLOYEES OF THE NEW YORK CITY CORRECTIONS DEPARTMENT.

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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 $100,613

Program Service Revenue $5,309,085

Investment Income $8,923

Other Revenue $1,000,000

TOTAL REVENUE $6,418,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,319,269

Fundraising Expenses $0

Other Expenses $5,887,437

TOTAL EXPENSES $9,206,706

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,418,621	$7,863,915	-0.2%
Expenses	$9,206,706	$7,971,121	+0.2%
Net Income	$-2,788,085	$-107,206	+25.0%

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

$965,135

Total Directors

$1,483,048

Key Employees

$233,989

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENNY BOSCIO JR	PRESIDENT	40.00	Officer Director	$213,797	$0	$213,797
GLENN MORGAN	1ST VICE PRESIDENT	40.00	Officer Director	$118,041	$0	$118,041
KEISHA WILLIAMS-CAMERON	2ND VICE PRESIDENT	40.00	Officer Director	$114,472	$0	$114,472
FELIX SANCHEZ	SERGEANT IN ARMS	40.00	Officer Director	$104,390	$0	$104,390
LIONEL CUMBERBATCH	FINANCIAL SECRETARY	40.00	Officer Director	$104,440	$0	$104,440
ANTOINETTE ANDERSON	CORRESPONDING SECRETARY/	10.00	Officer Director	$104,524	$0	$104,524
MATTHEW ROMANO	EXECUTIVE BOARD MEMBER	10.00	Director	$77,731	$0	$77,731
HERMAN JIMINIAN	LEGISLATIVE CHAIRMAN	10.00	Director	$102,078	$0	$102,078
NEIL RENOIS	RECORDING SECRETARY	10.00	Director	$94,730	$0	$94,730
ANGEL CASTRO	TREASURER	40.00	Officer Director	$106,625	$0	$106,625
ASKAKI ANTOINE	3RD VICE PRESIDENT	40.00	Officer Director	$98,846	$0	$98,846
CHARLES WINGATE	EXECUTIVE BOARD MEMBER	10.00	Director	$78,129	$0	$78,129
EDWARD YATES	EXECUTIVE BOARD MEMBER	10.00	Director	$79,762	$0	$79,762
MAURICE SMITH	EXECUTIVE BOARD MEMBER	10.00	Director	$42,725	$0	$42,725
ANADO RICO	EXECUTIVE BOARD MEMBER	10.00	Director	$42,758	$0	$42,758
KIM SMITH	CONTROLLER	40.00	Key Emp	$233,989	$0	$233,989
SHAWN GOODMAN	SECRETARY	1.00	Highest	$108,716	$0	$108,716

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	No data	No data	No data	No data
2024	$6,418,621	$9,206,706	$10,859,116	$-2,788,085
2024	No data	No data	No data	No data
2023	$6,922,585	$7,972,772	$10,064,520	$-1,050,187
2023	No data	No data	No data	No data
2022	$9,267,660	$9,040,429	$8,750,991	$227,231
2021	$10,149,949	$8,850,811	$8,988,774	$1,299,138
2020	$11,173,576	$10,451,087	$7,428,996	$722,489
2019	$12,014,888	$10,633,758	$6,587,418	$1,381,130
2018	$12,434,076	$12,016,393	$5,431,739	$417,683

CORRECTION OFFICERS' BENEVOLENT ASSOCIAT