NYC DISTRICT COUNCIL OF CARPENTERS WELFARE FUND (EIN 135615576) - 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

1950

Legal Domicile

Principal Officer

WALTER SARACENI

Phone

2123667300

Tax Period

2024-07-01 to 2025-06-30

NYC DISTRICT COUNCIL OF CARPENTERS WELFARE FUND, founded in 1950, is a major nonprofit that reported $464.4M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $424,515,957

Investment Income $39,715,919

Other Revenue $133,398

TOTAL REVENUE $464,365,274

Expense Breakdown

Grants Paid $348,250

Salaries & Benefits $6,890,118

Fundraising Expenses $0

Other Expenses $7,145,154

TOTAL EXPENSES $505,966,654

Year-over-Year Comparison

	2024	2023	Change
Revenue	$464,365,274	$416,091,625	+0.1%
Expenses	$505,966,654	$461,489,348	+0.1%
Net Income	$-41,601,380	$-45,397,723	-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

$657,935

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID T MEBERG	EMP TRUSTEE - CO-CHAIRMAN	2.00	Director	$0	$0	$0
MICHAEL SALGO	EMP TRUSTEE	2.00	Director	$0	$0	$0
JOHN DELOLLIS	EMP TRUSTEE	2.00	Director	$0	$0	$0
JOHN O'HARE	EMP TRUSTEE	2.00	Director	$0	$0	$0
JOHN SHEEHY - THRU 125	UNION TRUSTEE	2.00	Director	$0	$0	$0
PAUL CAPURSO	UNION TRUSTEE - CO-CHAIRMAN	2.00	Director	$0	$0	$0
MICHAEL CAVANAUGH - THRU 125	UNION TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH A GEIGER	UNION TRUSTEE	2.00	Director	$0	$0	$0
DAVID CARABALLOSO	UNION TRUSTEE	2.00	Director	$0	$0	$0
ROBERT WESSELS	EMP TRUSTEE	2.00	Director	$0	$0	$0
ADAM HARKIN	UNION TRUSTEE	2.00	Director	$0	$0	$0
ANTHONY MADAIO - EFF 125	UNION TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL PICCIRILLO - EFF 125	UNION TRUSTEE	2.00	Director	$0	$0	$0
KEVIN O'CALLAGHAN	EMP TRUSTEE	2.00	Director	$0	$0	$0
KRISTIN O'BRIEN FOWLKES	EXECUTIVE DIRECTOR	19.00	Officer	$302,416	$67,659	$370,075
ANGELA L MASSA	DIRECTOR OF FINANCE & INV	19.00	Officer	$232,825	$55,035	$287,860
WALTER SARACENI - EFF 625	INTERIM EXECUTIVE DIRECTOR	19.00	Officer	$0	$0	$0
DAVID JACOBSEN	CONTROLLER	19.00	Highest	$209,444	$56,277	$265,721
BENJAMIN J LAMBERT	IT DIRECTOR	19.00	Highest	$186,186	$50,395	$236,581
THERESA M IANNIZZI-RIERA	DIRECTOR OF ADMIN SERVICES	19.00	Highest	$164,027	$48,895	$212,922
FRANCES C CONSIDINE	WELFARE FUND DIRECTOR	19.00	Highest	$164,468	$48,036	$212,504
EDMOND OSHANANI	TECHNICAL PROJECT MANAGER	19.00	Highest	$149,250	$47,057	$196,307

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
2025	$464,365,274	$505,966,654	$851,281,504	$-41,601,380
2024	$416,091,625	$461,489,348	$865,987,904	$-45,397,723
2023	$410,408,937	$450,381,908	$822,353,485	$-39,972,971
2022	$405,915,233	$438,115,919	$844,702,905	$-32,200,686
2021	$416,051,094	$440,597,498	$935,228,636	$-24,546,404
2020	$437,967,328	$399,397,989	$861,346,931	$38,569,339
2019	$539,620,925	$451,566,699	$839,438,559	$88,054,226
2018	$483,233,281	$415,937,389	$785,836,782	$67,295,892

NYC DISTRICT COUNCIL OF CARPENTERS WELFARE FUND