LOCAL 46 SECOND HOLDING CORPORATION

EIN: 134152764

NEW YORK, NY

Total Revenue
$-83,027
Total Expenses
$23,862
Total Assets
$989,422
Net Assets
$-691,369
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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
2001
Legal Domicile
NY
Principal Officer
MICHAEL ANDERSON
Phone
2127370500
Tax Period
2024-01-01 to 2024-12-31

LOCAL 46 SECOND HOLDING CORPORATION, founded in 2001, is a micro nonprofit that reported $83K in total revenue in fiscal year 2024. Revenue fell 362% from the prior year — a significant decline worth monitoring.

Mission

TITLE HOLDING CORPORATION FOR APPRENTICE SCHOOL AND BENEFIT FUNDS

Program Service Accomplishments

Program 1

HOLD TITLE TO REAL PROPERTY, THAT PROVIDES A PERMANENT HOME FOR THE APPRENTICE SCHOOL AND BENEFIT FUNDS TO OPERATE EDUCATIONAL AND TRAINING PROGRAMS TO SERVE THE NEEDS OF THE METALLIC LATHERS UNION...

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HOLD TITLE TO REAL PROPERTY, THAT PROVIDES A PERMANENT HOME FOR THE APPRENTICE SCHOOL AND BENEFIT FUNDS TO OPERATE EDUCATIONAL AND TRAINING PROGRAMS TO SERVE THE NEEDS OF THE METALLIC LATHERS UNION LOCAL 46 (501 (C)5) MEMBERSHIP.

Program 2

SUBSIDY TO METAL LATHERS DEATH BENEFIT FUND

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $3,022
Other Revenue $-86,049
TOTAL REVENUE $-83,027

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $23,862
TOTAL EXPENSES $23,862

Year-over-Year Comparison

2024 2023 Change
Revenue $-83,027 $31,732 -3.6%
Expenses $23,862 $22,353 +0.1%
Net Income $-106,889 $9,379 -12.4%
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

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Governance

Voting Members
18
Independent Members
18
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
6
$351,428
Total Directors
18
$1,675,699
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL ANDERSON BUSINESS MANAGER/FST 1.00
Officer Director
$0 $136,887 $329,144
GERARD STREHLE PRESIDENT 1.00
Officer Director
$0 $0 $15,164
JOHN COFFEY BUSINESS AGENT 1.00
Director
$0 $136,887 $329,144
JOHN CLAUSMAN BUSINESS AGENT 1.00
Director
$0 $136,887 $329,144
KEVIN O'KEEFE BUSINESS AGENT 1.00
Director
$0 $136,887 $329,144
PHIL BERNSTOCK SERGEANT AT ARMS 1.00
Officer Director
$0 $0 $2,200
JOSE DIAZ EXEC BOARD 1.00
Director
$0 $0 $1,375
SHANE JENNINGS ASST SERGEANT AT ARMS 1.00
Officer Director
$0 $0 $2,500
GEORGE FERNANDEZ BUSINESS AGENT 1.00
Director
$0 $136,887 $329,144
WILLIAM P SETTERS RECORDING SECRETARY 1.00
Officer Director
$0 $0 $1,200
JONATHAN SCOTT TRUSTEE 1.00
Director
$0 $0 $1,200
YU HONG TAN TRUSTEE 1.00
Director
$0 $0 $1,300
BRENDAN DALEY VICE PRESIDENT 1.00
Officer Director
$0 $0 $1,220
ADRIANA FALCON TRUSTEE 1.00
Director
$0 $0 $1,100
DANIEL VASQUEZ EXEC BOARD 1.00
Director
$0 $0 $1,720
THOMAS BROWN EXEC BOARD 1.00
Director
$0 $0 $600
FRANK NOVELLI EXEC BOARD 1.00
Director
$0 $0 $400
JOSE NIEVES EXEC BOARD 1.00
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 $-83,027 $23,862 $989,422 $-106,889
2023 $31,732 $22,353 $1,107,250 $9,379
2022 $91,216 $22,992 $1,220,845 $68,224
2021 $8,883 $24,162 $1,206,333 $-15,279
2020 $-39,657 $34,272 $1,177,512 $-73,929
2019 $-38,630 $28,154 $1,286,707 $-66,784
2018 $-29,420 $94,441 $1,350,222 $-123,861
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