IRON WORKERS LOCALS 40 361 & 417 HEALTH FUND

EIN: 135622663

NEW YORK, NY

Total Revenue
$112,084,782
Total Expenses
$110,845,905
Total Assets
$215,251,956
Net Assets
$183,578,702
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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
NY
Principal Officer
BRIAN J SABBAGH
Phone
2126841586
Tax Period
2023-01-01 to 2023-12-31

IRON WORKERS LOCALS 40 361 & 417 HEALTH FUND, founded in 1948, is a major nonprofit that reported $112.1M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $108,279,862
Investment Income $3,637,394
Other Revenue $167,526
TOTAL REVENUE $112,084,782

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,193,472
Fundraising Expenses $0
Other Expenses $77,145
TOTAL EXPENSES $110,845,905

Year-over-Year Comparison

2023 2022 Change
Revenue $112,084,782 $119,986,476 -0.1%
Expenses $110,845,905 $119,286,258 -0.1%
Net Income $1,238,877 $700,218 +0.8%
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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Governance

Voting Members
16
Independent Members
16
Employees
19
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
0
$0
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAKE BIDOSKY EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
STEVE ISAACSON EMPLOYER TRUSTEE - THRU 5/23 0.50
Director
$0 $0 $0
GORD LEDER EMPLOYER TRUSTEE - EFF 9/23 0.50
Director
$0 $0 $0
ROBERT SAMELA EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
DAVID PISACRITA EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
ALAN SEIDMAN EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
DANIEL TEUTUL EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
TERRY FLYNN EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
ROBERT WEISS EMPLOYER TRUSTEE 0.50
Director
$0 $0 $0
DANIEL DOYLE UNION TRUSTEE 0.50
Director
$0 $0 $0
MICHAEL GAYDOS UNION TRUSTEE 0.50
Director
$0 $0 $0
JOHN CUSH UNION TRUSTEE 0.50
Director
$0 $0 $0
CHRISTOPHER WALSH UNION TRUSTEE 0.50
Director
$0 $0 $0
ROBERT JOHNSON UNION TRUSTEE - EFF 09/23 0.50
Director
$0 $0 $0
KEITH EISGRUBER UNION TRUSTEE 0.50
Director
$0 $0 $0
MATTHEW P STODDARD UNION TRUSTEE 0.50
Director
$0 $0 $0
ANTHONY DEBLASIE UNION TRUSTEE 0.50
Director
$0 $0 $0
MATTHEW CHARTRAND UNION TRUSTEE 0.50
Director
$0 $0 $0
ROBERT WALSH UNION TRUSTEE - THRU 09/23 0.50
Director
$0 $0 $0
BRIAN J SABBAGH FUND ADMINISTRATOR 35.00
Highest
$242,055 $136,877 $378,932
IAN CHAN EMPLOYEE 35.00
Highest
$215,577 $67,155 $282,732
JOHN DELANEY EMPLOYEE 35.00
Highest
$209,508 $136,877 $346,385
JIM DUFFICY EMPLOYEE 35.00
Highest
$194,152 $136,877 $331,029
ELSIE O'NEILL EMPLOYEE 35.00
Highest
$193,825 $136,877 $330,702
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 $112,084,782 $110,845,905 $215,251,956 $1,238,877
2022 $119,986,476 $119,286,258 $207,404,664 $700,218
2021 $125,919,205 $128,427,139 $228,259,017 $-2,507,934
2020 $124,828,004 $117,511,740 $224,931,312 $7,316,264
2019 $132,681,523 $123,999,497 $215,775,171 $8,682,026
2018 $131,487,214 $123,235,278 $194,156,991 $8,251,936
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