TEAMSTERS LOCAL 277 WELFARE 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

1955

Legal Domicile

Principal Officer

FRANK ASPREA

Phone

5165051623

Tax Period

2021-03-01 to 2022-02-28

TEAMSTERS LOCAL 277 WELFARE FUND, founded in 1955, is a micro nonprofit that reported $39K in total revenue in fiscal year 2021. Revenue surged 63% from the prior year, signaling strong growth momentum. Expenses of $130K exceeded revenue, resulting in a 236% operating deficit.

Mission

THE PLAN PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, PRESCRIPTION DRUG, DENTAL, DEATH, AND OPTICAL BENEFITS IN ACCORDANCE WITH THE PROVISIONS OF THE RULES AND REGULATIONS OF THE PLAN.

Program Service Accomplishments

Program 1

THE PLAN PROVIDES HEALTH , PRESCRIPTION DRUG, DENTAL, DEATH, AND OPTICAL BENEFITS TO ITS MEMBERS AND THEIR BENEFICIARIES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1

Other Revenue $38,612

TOTAL REVENUE $38,613

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,969

Fundraising Expenses $0

Other Expenses $50,650

TOTAL EXPENSES $129,619

Year-over-Year Comparison

	2021	2020	Change
Revenue	$38,613	$23,740	+0.6%
Expenses	$129,619	$95,630	+0.4%
Net Income	$-91,006	$-71,890	+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

N/A

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

$128,847

Total Directors

$304,292

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAWRENCE CINQUE	UNION TRUSTEE	1.00	Director	$0	$48,194	$142,949
KEVIN MCCAFFREY	UNION TRUSTEE	1.00	Director	$0	$48,194	$161,343
FRANK CELAURO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOHN YANCIGAY	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
THOMAS DE ANGELO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
EDWARD POGOR	UNION TRUSTEE	1.00	Director	$0	$0	$0
FRANK ASPREA	FUND MANAGER	20.00	Officer	$3,572	$40,862	$128,847

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
2022	$38,613	$129,619	No data	$-91,006
2021	$23,740	$95,630	$96,202	$-71,890
2020	$1,093,250	$1,723,512	$191,946	$-630,262
2019	$3,053,091	$4,239,228	$825,839	$-1,186,137