METAL POLISHERS UNION LOCAL 8A-28A WELFARE FUND (EIN 135624028) - 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

JOSEPH AZZOPARDI

Phone

7183611552

Tax Period

2024-01-01 to 2024-12-31

METAL POLISHERS UNION LOCAL 8A-28A WELFARE FUND, founded in 1948, is a community nonprofit that reported $7.6M in total revenue in fiscal year 2024. Expenses of $7.2M left a modest 5% surplus.

Mission

THE PLAN PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, PRESCRIPTION DRUG, DENTAL, DEATH, OPTICAL, LIFE INSURANCE, ACCIDENTAL DEATH AND DISMEMBERMENT, DISABILITY AND MEMBERSHIP ASSISTANCE BENEFITS FOR MEMBERS AND THEIR DEPENDENTS IN ACCORDANCE WITH THE PROVISIONS OF THE RULES AND REGULATIONS OF THE PLAN.

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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 $7,255,161

Investment Income $218,814

Other Revenue $89,114

TOTAL REVENUE $7,563,089

Expense Breakdown

Grants Paid $0

Salaries & Benefits $309,908

Fundraising Expenses $0

Other Expenses $675,726

TOTAL EXPENSES $7,184,595

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,563,089	$7,473,651	+0.0%
Expenses	$7,184,595	$6,939,666	+0.0%
Net Income	$378,494	$533,985	-0.3%

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

$1,029,931

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH AZZOPARDI	UNION TRUSTEE	2.00	Director	$0	$176,308	$506,285
JOHN DREW	UNION TRUSTEE	2.00	Director	$0	$136,082	$315,584
ALBERT BLAIR	UNION TRUSTEE	2.00	Director	$0	$95,683	$208,062
LINA GOTTESMAN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH PANETTA	EMPLOYER TRUSTEE (P)	2.00	Director	$0	$0	$0
JAMES SKELLENGER	EMPLOYER TRUSTEE (P)	2.00	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	$7,563,089	$7,184,595	$9,856,475	$378,494
2023	$7,473,651	$6,939,666	$9,431,808	$533,985
2022	$7,119,889	$5,771,371	$10,201,443	$1,348,518
2021	$11,654,172	$5,311,533	$10,230,981	$6,342,639
2020	$5,676,208	$5,740,561	$5,128,166	$-64,353
2019	$5,574,536	$5,778,707	$4,975,239	$-204,171
2018	$4,824,427	$6,282,663	$4,131,350	$-1,458,236

METAL POLISHERS UNION LOCAL 8A-28A WELFARE FUND