IRON WORKERS LOCALS 40 361 & 417 TOPPING OUT FUND (EIN 133156507) - 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

1982

Legal Domicile

Principal Officer

BRIAN J SABBAGH

Phone

2126841586

Tax Period

2024-01-01 to 2024-12-31

IRON WORKERS LOCALS 40 361 & 417 TOPPING OUT FUND, founded in 1982, is a mid-sized nonprofit that reported $52.0M in total revenue in fiscal year 2024. Expenses of $44.2M left a modest 15% surplus.

Mission

TO PROVIDE DEATH, DISABILITY, UNEMPLOYMENT AND UNREIMBURSED MEDICAL EXPENSE 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $40,688,745

Investment Income $11,310,921

Other Revenue $0

TOTAL REVENUE $51,999,666

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,433,641

TOTAL EXPENSES $44,206,466

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,999,666	$49,037,897	+0.1%
Expenses	$44,206,466	$50,020,862	-0.1%
Net Income	$7,793,200	$-982,965	-8.9%

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

$385,103

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAKE BIDOSKY	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
BARRY KING	EMPLOYER TRUSTEE - EFF 01/24	0.50	Director	$0	$0	$0
GORD LEDER	EMPLOYER TRUSTEE - THRU 01/24	0.50	Director	$0	$0	$0
ROBERT SAMELA	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
DAVID PISACRITA	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
ALAN SEIDMAN	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
DANIEL TEUTUL	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
BILL MATRE	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
ROBERT WEISS	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
DANIEL DOYLE	UNION TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL GAYDOS	UNION TRUSTEE - THRU 07/24	0.50	Director	$0	$0	$0
JOHN CUSH	UNION TRUSTEE	0.50	Director	$0	$0	$0
CHRISTOPHER WALSH	UNION TRUSTEE	0.50	Director	$0	$0	$0
ROBERT JOHNSON	UNION TRUSTEE	0.50	Director	$0	$0	$0
KEITH EISGRUBER	UNION TRUSTEE	0.50	Director	$0	$0	$0
MATTHEW P STODDARD	UNION TRUSTEE	0.50	Director	$0	$0	$0
ANTHONY DEBLASIE	UNION TRUSTEE	0.50	Director	$0	$0	$0
MATTHEW CHARTRAND	UNION TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL DUNN	UNION TRUSTEE - EFF 07/24	0.50	Director	$0	$0	$0
BRIAN J SABBAGH	FUND ADMINISTRATOR	5.00	Officer	$0	$141,988	$385,103

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	$51,999,666	$44,206,466	$318,766,675	$7,793,200
2023	$49,037,897	$50,020,862	$303,166,578	$-982,965
2022	$58,496,866	$50,099,711	$290,630,517	$8,397,155
2021	$57,976,282	$41,991,961	$314,693,043	$15,984,321
2020	$56,489,344	$44,085,418	$290,427,400	$12,403,926
2019	$63,535,067	$40,673,692	$275,938,823	$22,861,375
2018	$61,136,680	$43,490,085	$237,136,032	$17,646,595

IRON WORKERS LOCALS 40 361 & 417 TOPPING OUT FUND