NYSA-ILA WELFARE FUND (EIN 135638505) - 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

1957

Legal Domicile

Phone

2014793605

Tax Period

2023-01-01 to 2023-12-31

NYSA-ILA WELFARE FUND, founded in 1957, is a mid-sized nonprofit that reported $17.6M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

THE FUND IS A MULTI-EMPLOYER WELFARE EMPLOYEE BENEFIT PLAN ESTABLISHED PURSUANT TO THE COLLECTIVE BARGAINING AGREEMENT BETWEEN THE NEW YORK SHIPPING ASSOCIATION AND THE INTERNATIONAL LONGSHOREMEN'S ASSOCIATION.

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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 $17,086,240

Investment Income $405,674

Other Revenue $84,673

TOTAL REVENUE $17,576,587

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,453,544

Fundraising Expenses $0

Other Expenses $1,282,954

TOTAL EXPENSES $17,249,175

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,576,587	$20,224,051	-0.1%
Expenses	$17,249,175	$17,425,126	0.0%
Net Income	$327,412	$2,798,925	-0.9%

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

418

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS OMIATEK	DIRECTOR	35.00		$269,859	$54,021	$323,880
JENNIFER FREEDBERG-BERKOFF	DIRECTOR	35.00		$220,789	$47,641	$268,430
JACQUELINE SCARPARI	EMPLOYEE ADM ASST	35.00		$185,268	$42,643	$227,911
ROBERT FIORE	EMPLOYEE ASST ADM	35.00		$173,215	$36,981	$210,196
MAGGIE CHAN	ADMIN ASSISTANT	35.00		$119,064	$35,724	$154,788
JOHN NARDI	Trustee	0.00	Director	$0	$0	$0
CLIFTON SMITH	Alt. Trustee	0.00	Director	$0	$0	$0
CAPT LOUIS FERRER	Trustee	0.00	Director	$0	$0	$0
MICHAEL VIGNERON	Trustee	0.00	Director	$0	$0	$0
JAMES PELLICCIO	Trustee	0.00	Director	$0	$0	$0
MICHAEL IZZO	Alt. Trustee	0.00	Director	$0	$0	$0
DENNIS DAGGETT	Trustee	0.00	Director	$0	$0	$0
JOHN DAGGETT	Trustee	0.00	Director	$0	$0	$0
STEPHEN KNOTT	Trustee	0.00	Director	$0	$0	$0
VIRGIL MALDONADO	Trustee	0.00	Director	$0	$0	$0
BRANDON GARCIA	Alt. Trustee	0.00	Director	$0	$0	$0
FRANK AGOSTA	Trustee	0.00	Director	$0	$0	$0
HAROLD DAGGETT	Trustee	0.00	Director	$0	$0	$0
TERENCE DICKENSON	Alt. Trustee	0.00	Director	$0	$0	$0
KURT MITTENZWEI	Trustee	0.00	Director	$0	$0	$0
JOHN WILLIAMS	Trustee	0.00	Director	$0	$0	$0
ROBERT MILAZZO	Trustee	0.00	Director	$0	$0	$0
DAVID CICALESE	Trustee	0.00	Director	$0	$0	$0
JAMES STOLPINSKI	Trustee	0.00	Director	$0	$0	$0
DOMINICK GAUDIOSO	Treasurer	0.00	Officer	$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	No data	No data	No data	No data
2023	$17,576,587	$17,249,175	$11,537,085	$327,412
2022	$20,224,051	$17,425,126	$10,816,202	$2,798,925
2021	$15,752,237	$16,185,003	$7,529,228	$-432,766
2020	$17,425,581	$14,358,262	$7,200,947	$3,067,319
2019	$13,957,693	$14,774,495	$4,165,129	$-816,802
2018	$12,089,666	$14,010,099	$4,809,552	$-1,920,433

NYSA-ILA WELFARE FUND