BOARD OF TRUSTEES OF SMW LU NO 28 WELFARE FUND (EIN 135530847) - 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

1948

Legal Domicile

Principal Officer

ERIC MESLIN

Phone

5167429478

Tax Period

2023-01-01 to 2023-12-31

BOARD OF TRUSTEES OF SMW LU NO 28 WELFARE FUND, founded in 1948, is a mid-sized nonprofit that reported $77.9M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $91.8M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROVIDE MEMBERS WITH HEALTH AND WELFARE BENEFITS.

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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 $63,945,363

Investment Income $13,957,086

Other Revenue $35,415

TOTAL REVENUE $77,937,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,544,631

Fundraising Expenses $0

Other Expenses $3,046,218

TOTAL EXPENSES $91,792,079

Year-over-Year Comparison

	2023	2022	Change
Revenue	$77,937,864	$65,848,597	+0.2%
Expenses	$91,792,079	$81,038,628	+0.1%
Net Income	$-13,854,215	$-15,190,031	-0.1%

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

$291,999

Total Directors

$1,746,876

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK NARCISO	TRUSTEE	1.00	Director	$0	$0	$0
MAUREEN O'CONNER	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM ROTHBERG	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN NIGRO	TRUSTEE	1.00	Director	$0	$146,690	$316,420
TIMOTHY WILTON	TRUSTEE	1.00	Director	$0	$147,844	$325,881
RALPH TORTORA	TRUSTEE	1.00	Director	$0	$147,821	$326,790
JOHN HAUSER	TRUSTEE	1.00	Director	$0	$0	$0
JAMES K ESTABROOK	TRUSTEE	1.00	Director	$0	$0	$0
ERIC MESLIN	TRUSTEE	1.00	Director	$0	$185,288	$420,486
SALVATORE STARACE	TRUSTEE	1.00	Director	$0	$160,291	$357,299
GLEN CAMISA	EXECUTIVE DIRECTOR	40.00	Officer	$200,127	$91,872	$291,999
JENNIFER BLAKE	OFFICE MANAGER	40.00	Highest	$145,713	$19,024	$164,737
ROBERT KATUNA	EMPLOYEE	40.00	Highest	$105,241	$16,891	$122,132
CARLOS ANDRADE	EMPLOYEE	40.00	Highest	$144,623	$18,991	$163,614
SANTIAGO IDLET	EMPLOYEE	40.00	Highest	$124,076	$79,947	$204,023
TERI BRAUNER	EMPLOYEE	40.00	Highest	$104,304	$16,674	$120,978

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	$77,937,864	$91,792,079	$134,509,419	$-13,854,215
2022	$65,848,597	$81,038,628	$151,570,241	$-15,190,031
2021	$78,772,584	$87,120,784	$184,952,808	$-8,348,200
2020	$75,359,131	$82,561,823	$185,717,582	$-7,202,692
2019	$84,376,998	$81,384,310	$182,137,022	$2,992,688
2018	$83,319,897	$76,551,904	$161,325,628	$6,767,993

BOARD OF TRUSTEES OF SMW LU NO 28 WELFARE FUND