FINISHING TRADES INSTITUTE OF NEW YORK (EIN 133724146) - 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

1993

Legal Domicile

Principal Officer

JOSEPH AZZOPARDI

Phone

2122552950

Tax Period

2023-01-01 to 2023-12-31

FINISHING TRADES INSTITUTE OF NEW YORK, founded in 1993, is a community nonprofit in the Education sector that reported $4.8M in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. Net assets of $14.1M represent 36 months of operating reserves.

Mission

TO PROVIDE TRAINING AND INSTRUCTION FOR APPROXIMATELY 7,700 APPRENTICE & JOURNEYPERSON MEMBERS IN PAINTING AND ALLIED TRADES, AS COVERED UNDER VARIOUS COLLECTIVE BARGAINING AGREEMENTS WITH DISTRICT COUNCIL 9, IUPAT.

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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 $187,766

Program Service Revenue $4,461,357

Investment Income $83,547

Other Revenue $18,078

TOTAL REVENUE $4,750,748

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,158,293

Fundraising Expenses $0

Program Expenses $4,431,768

Other Expenses $1,958,094

TOTAL EXPENSES $5,116,387

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,750,748	$2,771,965	+0.7%
Expenses	$5,116,387	$5,068,807	+0.0%
Net Income	$-365,639	$-2,296,842	-0.8%

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

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

$332,965

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JED COLDON	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
NICHOLAS MILAZZO	UNION TRUSTEE	2.00	Director	$0	$0	$0
KYLE NUGENT	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
KIERAN AHERN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JEROME HABER	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
TODD NUGENT	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
GORDON ROTH	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
PETER CAFIERO	EMPLOYER TRUSTEE	5.00	Director	$0	$0	$0
ANTHONY SPEZIALE	UNION TRUSTEE	2.00	Director	$0	$0	$0
TODD HELFRICH	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
BRUCE RUINSKY	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH AZZOPARDI	UNION TRUSTEE	2.00	Director	$0	$0	$0
RADOMIR JELCIC	EMPLOYER TRUSTEE (P)	2.00	Director	$0	$0	$0
DINO ERBELI	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOHN GISONDI	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOHN DREW	UNION TRUSTEE	2.00	Director	$0	$0	$0
RANDY PEARLMAN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
LEE ECK	UNION TRUSTEE	2.00	Director	$0	$0	$0
JOHN CARUSO	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
RICHARD HENSHAW	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
MATHEW GAETA	UNION TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN BRICE	UNION TRUSTEE	2.00	Director	$0	$0	$0
ARCHIE ERBELI	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
SCOTT HABER	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
COSTAS DIAMANTIS	DIRECTOR	55.00	Officer	$188,368	$144,597	$332,965
RONY LUNA	EDUCATION INSTRUCTOR	50.00	Highest	$143,084	$103,631	$246,715
STEVEN KAY	EDUCATION INSTRUCTOR	50.00	Highest	$142,671	$114,766	$257,437
OMAR ROBINSON	EDUCATION INSTRUCTOR	50.00	Highest	$144,173	$104,233	$248,406
JUAN BERNAL	EDUCATION INSTRUCTOR	50.00	Highest	$146,617	$103,896	$250,513
PETER GRILLO	EDUCATION INSTRUCTOR	50.00	Highest	$169,547	$124,938	$294,485

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	$4,750,748	$5,116,387	$25,341,879	$-365,639
2022	$2,771,965	$5,068,807	$26,019,535	$-2,296,842
2021	$2,729,484	$4,239,720	$16,930,233	$-1,510,236
2020	$3,609,899	$3,430,473	$20,047,851	$179,426
2019	$14,182,657	$3,781,085	$18,241,432	$10,401,572
2018	$3,336,775	$3,594,115	$7,985,250	$-257,340

FINISHING TRADES INSTITUTE OF NEW YORK