MM&P HEALTH & BENEFIT 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

1950

Legal Domicile

Principal Officer

DONALD MARCUS

Phone

4108508500

Tax Period

2023-01-01 to 2023-12-31

MM&P HEALTH & BENEFIT FUND, founded in 1950, is a mid-sized nonprofit that reported $83.2M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN REGULATIONS

Program Service Accomplishments

Program 1

EXPENSES FOR PROVIDING MEDICAL, LEGAL, HEALTH AND RELATED 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 $81,091,259

Investment Income $2,068,881

Other Revenue $0

TOTAL REVENUE $83,160,140

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,929,682

Fundraising Expenses $0

Other Expenses $2,275,086

TOTAL EXPENSES $81,886,397

Year-over-Year Comparison

	2023	2022	Change
Revenue	$83,160,140	$76,896,915	+0.1%
Expenses	$81,886,397	$78,313,334	+0.0%
Net Income	$1,273,743	$-1,416,419	-1.9%

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

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

$798,148

Total Directors

$1,599,901

Key Employees

$665,526

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAPT DONALD MARCUS	TRUSTEE, CHAIRMAN	2.00	Officer Director	$0	$60,117	$289,709
CAPT KENNETH CARLSON JR	TRUSTEE	1.00	Director	$0	$0	$3,985
MR EDWARD MORGAN	TRUSTEE, SECRETARY-TREASURER	2.00	Officer Director	$0	$0	$0
CAPT JOHN W SULLIVAN	TRUSTEE	1.00	Director	$0	$0	$0
MR DONALD JOSBERGER	TRUSTEE	1.00	Director	$0	$59,776	$318,447
MR ED HANLEY	TRUSTEE	1.00	Director	$0	$0	$0
MR J LARS TURNER	TRUSTEE	1.00	Director	$0	$50,078	$237,021
MR DANIEL DRISCOLL	TRUSTEE	1.00	Director	$0	$0	$0
MR EDWARD WASHBURN	TRUSTEE	1.00	Director	$0	$0	$0
MR THOMAS LARKIN	TRUSTEE	1.00	Director	$0	$49,248	$253,474
MR BORIANA FARRAR	TRUSTEE	1.00	Director	$0	$0	$0
MR JEREMY HOPE	TRUSTEE	1.00	Director	$0	$52,090	$263,316
MR DANIEL TWOHIG	TRUSTEE	1.00	Director	$0	$45,441	$233,949
MR MICHAEL LABONTE	TRUSTEE	1.00	Director	$0	$0	$0
MR PATRICK MCCULLOUGH	ADMINISTRATOR	24.00	Officer	$157,660	$57,859	$295,406
MS PAULA PHILLIPS	CONTROLLER	24.00	Officer	$109,409	$48,186	$213,033
MS ANN MARIE MCCULLOUGH	DIRECTOR -HEATLH BENEFITS	24.00	Key Emp	$109,206	$56,974	$221,515
MR KEN RYAN	DEPUTY DIRECTOR	24.00	Key Emp	$135,770	$56,561	$261,126
MR MICHAEL MCCULLOUGH	LEAD OPERATIONS CLERK	24.00	Key Emp	$101,766	$29,553	$182,885
MR JOSEPH GIUSTO	PROGRAMMER/ANALYST	24.00	Highest	$91,608	$30,980	$169,006
MR DAVID ROMANO	DIRECTOR-PENSION, IRAP AND	24.00	Highest	$72,035	$45,094	$153,629

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	$83,160,140	$81,886,397	$57,015,084	$1,273,743
2022	$76,896,915	$78,313,334	$53,700,358	$-1,416,419
2021	$79,890,860	$82,263,908	$64,051,894	$-2,373,048
2020	$69,633,399	$70,514,687	$69,431,579	$-881,288
2019	$72,126,883	$75,912,710	$66,333,153	$-3,785,827
2018	$68,116,636	$69,747,767	$66,561,951	$-1,631,131