MUTUAL AID ASSOCIATION INC LOCAL 628 IAFF WELFARE FUND (EIN 136118338) - 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

1970

Legal Domicile

Principal Officer

STEVEN PHILP

Phone

9144761200

Tax Period

2024-01-01 to 2024-12-31

MUTUAL AID ASSOCIATION INC LOCAL 628 IAFF WELFARE FUND, founded in 1970, is a small nonprofit that reported $868K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $803K left a modest 8% surplus.

Mission

TO PROVIDE BENEFITS TO THE ORGANIZATION'S MEMBERS AND MEMBERS OF THE COMMUNITY.

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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 $814,369

Investment Income $52,523

Other Revenue $1,577

TOTAL REVENUE $868,469

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $403,870

Other Expenses $399,150

TOTAL EXPENSES $803,020

Year-over-Year Comparison

	2024	2023	Change
Revenue	$868,469	$714,281	+0.2%
Expenses	$803,020	$762,380	+0.1%
Net Income	$65,449	$-48,099	-2.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY ROSSINI	TRUSTEE	10.00	Director	$0	$0	$0
LOUIS VELLUCCI	TRUSTEE	10.00	Director	$0	$0	$0
RYAN WASYLENKO	TRUSTEE	10.00	Director	$0	$0	$0
ADRIAN GALLAGHER	FINANCIAL SE	15.00	Officer	$0	$0	$0
KEVIN KUDELKA	RECORDING SE	15.00	Officer	$0	$0	$0
STEVEN PHILP	PRESIDENT	45.00	Officer	$0	$0	$0
KEITH PIERSALL	VICE PRESIDE	15.00	Officer	$0	$0	$0
KEVIN TEAGUE	TREASURER	20.00	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	$868,469	$803,020	$2,775,262	$65,449
2023	$714,281	$762,380	$2,709,813	$-48,099
2022	$766,183	$1,162,840	$2,757,957	$-396,657
2021	$729,193	$1,033,915	$3,212,715	$-304,722
2020	$771,296	$680,551	$3,564,892	$90,745
2019	$727,102	$424,246	$3,476,547	$302,856
2018	$719,344	$165,406	$3,173,691	$553,938

MUTUAL AID ASSOCIATION INC LOCAL 628 IAFF WELFARE FUND