LOCAL 947 HEALTH & WELFARE FUND

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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

Principal Officer

JEANNIE CALDERON

Phone

6316705660

Tax Period

2023-10-01 to 2024-09-30

LOCAL 947 HEALTH & WELFARE FUND, founded in 2001, is a community nonprofit in the Mutual Benefit sector that reported $5.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

THE PLAN PROVIDES HOSPITAL, MEDICAL, PRESCRIPTION DRUG AND DENTAL BENEFITS FOR ELIGIBLE MEMBERS AND DEPENDENTS OF MEMBERS COVERED UNDER COLLECTIVE BARGAINING AGREEMENTS.

Program Service Accomplishments

Program 1

THE PLAN PROVIDES HOSPITAL, MEDICAL, PRESCRIPTION DRUG AND DENTAL BENEFITS FOR ELIGIBLE MEMBERS AND DEPENDENTS OF MEMBERS COVERED UNDER COLLECTIVE BARGAINING AGREEMENTS.

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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 $5,797,568

Investment Income $6,612

Other Revenue $0

TOTAL REVENUE $5,804,180

Expense Breakdown

Grants Paid $0

Salaries & Benefits $193,690

Fundraising Expenses $0

Other Expenses $44,211

TOTAL EXPENSES $5,772,692

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,804,180	$5,122,334	+0.1%
Expenses	$5,772,692	$4,628,512	+0.2%
Net Income	$31,488	$493,822	-0.9%

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

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

$179,018

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH FONSECA	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
ARNOLD BAERGA	UNION TRUSTEE	2.00	Director	$0	$0	$0
JEANNIE CALDERON	PLAN ADMINISTRATOR	35.00	Officer	$86,280	$0	$127,880
GLORIA LARRONDO	FUND COORDINATOR	35.00	Officer	$51,138	$0	$51,138

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	$5,804,180	$5,772,692	$1,609,090	$31,488
2023	$5,122,334	$4,628,512	$1,481,730	$493,822
2022	$2,879,144	$2,711,829	$1,009,847	$167,315
2021	$1,733,766	$1,712,879	$896,830	$20,887
2020	$1,904,586	$1,758,369	$852,416	$146,217
2019	$3,282,220	$3,132,305	$698,718	$149,915
2018	$1,602,430	$1,466,007	$614,749	$136,423