DERRICKMEN'S WELFARE FUND LOCAL 197 (EIN 136121369) - 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

1950

Legal Domicile

Principal Officer

WILLIAM HAYES

Phone

2125055050

Tax Period

2024-01-01 to 2024-12-31

DERRICKMEN'S WELFARE FUND LOCAL 197, founded in 1950, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $4.7M exceeded revenue, resulting in a 22% operating deficit.

Mission

TO PROVIDE MEDICAL, VACATION, DEATH BENEFITS, PRESCRIPTION DRUG,OPTICAL, DENTAL, DISABILITY AND PAID FAMILY LEAVE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

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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 $3,480,324

Investment Income $347,351

Other Revenue $0

TOTAL REVENUE $3,827,675

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $258,254

TOTAL EXPENSES $4,660,785

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,827,675	$5,034,767	-0.2%
Expenses	$4,660,785	$5,720,772	-0.2%
Net Income	$-833,110	$-686,005	+0.2%

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
WILLIAM HAYES	UNION TRUSTEE	1.00	Director	$0	$0	$0
CAROLE RAFTREY	UNION TRUSTEE	1.00	Director	$0	$0	$0
DAVID CARRUA	UNION TRUSTEE	1.00	Director	$0	$0	$0
MARCO BERARDI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY VESPA	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT WEISS	EMPLOYER TRUSTEE	1.00	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	$3,827,675	$4,660,785	$3,741,134	$-833,110
2023	$5,034,767	$5,720,772	$4,727,261	$-686,005
2022	$3,594,277	$4,078,216	$4,835,724	$-483,939
2021	$4,648,772	$5,092,308	$5,919,396	$-443,536
2020	$4,466,447	$5,187,366	$6,337,256	$-720,919
2019	$6,964,799	$6,210,259	$6,915,844	$754,540
2018	$5,559,907	$4,941,209	$5,950,340	$618,698

DERRICKMEN'S WELFARE FUND LOCAL 197