MUTUAL AID ASSOCIATION INC LOCAL 628 IAFF WELFARE FUND

EIN: 136118338

YONKERS, NY

Total Revenue
$868,469
Total Expenses
$803,020
Total Assets
$2,775,262
Net Assets
$2,775,262
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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
NY
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.

Program Service Accomplishments

Program 1
Expenses: $165,342

PROVIDING MAJOR MEDICAL REIMBURSEMENT BENEFITS TO THE ORGANIZATION'S MEMBERS.

Program 2
Expenses: $157,120

PROVIDING PHYSICAL INCENTIVE BENEFITS TO THE ORGANIZATION'S MEMBERS.

Program 3
Expenses: $33,434

PROVIDING PRESCRIPTION REIMBURSEMENT BENEFITS TO THE ORGANIZATION'S MEMBERS.

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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 (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

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Governance

Voting Members
8
Independent Members
8
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
5
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
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
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