LOCAL 147 CONSTRUCTION WORKERS ASB… - Form 990 Financial Data

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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

1983

Legal Domicile

Principal Officer

RICHARD T FITZSIMMONS

Phone

9736013828

Tax Period

2023-01-01 to 2023-12-31

LOCAL 147 CONSTRUCTION WORKERS ASB FUND C/O BASIL CASTROVINCI ASSOCIATES INC, founded in 1983, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2023. Revenue surged 72% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 44% operating margin.

Mission

TO PROVIDE ADDITIONAL BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES ADDITIONAL BENEFITS SUCH AS UNEMPLOYMENT, WORKERS COMPENSATION, DISABILITY, ECONOMIC ASSISTANCE, EDUCATION, DEATH, SEVERANCE AND VACATION TO ELIGIBLE PARTICIPANTS AND THEIR...

THE FUND PROVIDES ADDITIONAL BENEFITS SUCH AS UNEMPLOYMENT, WORKERS COMPENSATION, DISABILITY, ECONOMIC ASSISTANCE, EDUCATION, DEATH, SEVERANCE AND VACATION TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS WHICH ARE FUNDED BY PARTICIPATING EMPLOYERS WHICH MAKE CONTRIBUTIONS BASED ON HOURS WORKERS.

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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 $1,977,083

Investment Income $1,137,531

Other Revenue $1,142

TOTAL REVENUE $3,115,756

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $161,718

TOTAL EXPENSES $1,748,915

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,115,756	$1,812,678	+0.7%
Expenses	$1,748,915	$1,172,971	+0.5%
Net Income	$1,366,841	$639,707	+1.1%

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

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

$939,313

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD T FITZSIMMONS	UNION TRUSTEE	1.00	Director	$0	$263,168	$527,104
JOHN RYAN	UNION TRUSTEE	1.00	Director	$0	$6,695	$22,870
CHRISTOPHER FITZSIMMONS	UNION TRUSTEE	1.00	Director	$0	$185,452	$389,339
ROBERT WESSELS	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
MARK ROSEN	EMPLOYER TRUSTEE	0.50	Director	$0	$0	$0
PATRICK ROONEY	EMPLOYER TRUSTEE	0.50	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	$3,115,756	$1,748,915	$11,892,187	$1,366,841
2022	$1,812,678	$1,172,971	$10,793,223	$639,707
2021	$971,198	$1,786,407	$12,121,351	$-815,209
2020	$1,172,106	$1,757,192	$13,046,712	$-585,086
2019	$1,029,083	$5,519,659	$13,439,242	$-4,490,576
2018	$2,248,720	$11,407,691	$16,927,878	$-9,158,971

LOCAL 147 CONSTRUCTION WORKERS ASB FUND C/O BASIL CASTROVINCI ASSOCIATES INC