CORNING INCORPORATED LONG TERM DISABILITY (EIN 133364852) - 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

1988

Legal Domicile

Phone

4122342242

Tax Period

2024-01-01 to 2024-12-31

CORNING INCORPORATED LONG TERM DISABILITY, founded in 1988, is a mid-sized nonprofit that reported $90.5M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $130.0M exceeded revenue, resulting in a 44% operating deficit.

Mission

THE EXEMPT PURPOSE OF THE TRUST IS TO PROVIDE LONG TERM DISABILITY BENEFITS TO SALARIED EMPLOYEES AND HEALTH BENEFITS TO ACTIVE EMPLOYEES AND UNION RETIREES OF CORNING INCORPORATED.

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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 $89,453,202

Investment Income $1,055,452

Other Revenue $0

TOTAL REVENUE $90,508,654

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,540

Fundraising Expenses $0

Other Expenses $554,546

TOTAL EXPENSES $129,992,167

Year-over-Year Comparison

	2024	2023	Change
Revenue	$90,508,654	$96,529,773	-0.1%
Expenses	$129,992,167	$45,236,092	+1.9%
Net Income	$-39,483,513	$51,293,681	-1.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TRUSTEE (SEE SCHEDULE O)	0.0		$3,540	$0	$3,540

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	$90,508,654	$129,992,167	$21,995,092	$-39,483,513
2023	$96,529,773	$45,236,092	$61,478,605	$51,293,681
2022	$78,781,343	$103,507,886	$10,184,924	$-24,726,543
2021	$125,838,828	$156,613,873	$34,911,467	$-30,775,045
2020	$62,245,532	$828,586	$65,686,512	$61,416,946
2019	$740,365	$703,049	$4,269,566	$37,316
2018	$700,357	$731,363	$4,232,250	$-31,006

CORNING INCORPORATED LONG TERM DISABILITY