LAUNDRY DRY CLEANING WORKERS & ALL… - 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

1946

Legal Domicile

Principal Officer

MICHAEL POTACK

Phone

9143675000

Tax Period

2023-01-01 to 2023-12-31

LAUNDRY DRY CLEANING WORKERS & ALLIED INDUSTRIES HEALTH FUND WORKERS UNITED, founded in 1946, is a mid-sized nonprofit that reported $13.9M in total revenue in fiscal year 2023.

Mission

TO PROVIDE MEDICAL, HOSPITALIZATION, DENTAL, VISION AND PRESCRIPTION BENEFITS PAID TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

MEDICAL, HOSPITALIZATION, DENTAL, VISION AND PRESCRIPTION BENEFITS PAID TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

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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 $13,130,497

Investment Income $650,474

Other Revenue $101,762

TOTAL REVENUE $13,882,733

Expense Breakdown

Grants Paid $0

Salaries & Benefits $163,404

Fundraising Expenses $0

Other Expenses $1,875,111

TOTAL EXPENSES $14,247,028

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,882,733	$13,557,960	+0.0%
Expenses	$14,247,028	$13,792,841	+0.0%
Net Income	$-364,295	$-234,881	+0.6%

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

$347,145

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALBERTO ARROYO	UNION TRUSTEE	1.00	Director	$0	$42,872	$174,851
MICHAEL POTACK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MEGHAN CHAMBERS	UNION TRUSTEE - CHAIRMAN	1.00	Director	$0	$42,872	$172,294
JOHN MAGLIOCCO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT POTACK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
DANIEL SILVERMAN	UNION TRUSTEE	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	No data	No data	No data	No data
2023	$13,882,733	$14,247,028	$18,940,635	$-364,295
2022	$13,557,960	$13,792,841	$18,179,307	$-234,881
2021	$12,653,336	$11,719,667	$20,678,302	$933,669
2020	$11,822,668	$15,868,880	$19,768,454	$-4,046,212
2019	$19,246,221	$17,099,030	$23,435,271	$2,147,191
2018	$18,721,669	$14,882,802	$20,948,490	$3,838,867

LAUNDRY DRY CLEANING WORKERS & ALLIED INDUSTRIES HEALTH FUND WORKERS UNITED