LOCAL 817 IBT WELFARE FUND (EIN 136210566) - 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

1964

Legal Domicile

Principal Officer

THOMAS J O'DONNELL

Phone

5163653470

Tax Period

2023-01-01 to 2023-12-31

LOCAL 817 IBT WELFARE FUND, founded in 1964, is a mid-sized nonprofit that reported $28.6M in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $58.3M exceeded revenue, resulting in a 104% operating deficit.

Mission

TO PROVIDE WELFARE BENEFITS TO PARTICIPANTS COVERED UNDER THE COLLECTIVE BARGAINING AGREEMENT.

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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 $25,867,840

Investment Income $2,697,825

Other Revenue $1,737

TOTAL REVENUE $28,567,402

Expense Breakdown

Grants Paid $0

Salaries & Benefits $550,708

Fundraising Expenses $0

Other Expenses $400,687

TOTAL EXPENSES $58,261,216

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,567,402	$52,108,463	-0.5%
Expenses	$58,261,216	$46,746,323	+0.2%
Net Income	$-29,693,814	$5,362,140	-6.5%

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

1262

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

$1,157,031

Key Employees

$359,217

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLAN KRAHIEH	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS JO'DONNELL	TRUSTEE	2.00	Director	$0	$121,759	$434,084
GREGG CARLESIMO	TRUSTEE	2.00	Director	$0	$0	$0
FRANCIS J CONNOLLY JR	TRUSTEE	2.00	Director	$0	$112,370	$400,443
BRIAN SALOMONE	TRUSTEE	1.00	Director	$0	$90,867	$322,504
KATHLEEN KREINBIHL	FUND ADMINISTRATOR	19.00	Key Emp	$151,447	$89,134	$359,217
CHRISTOPHER O'DONNELL	ASSOCIATE FUND ADMINISTRAT	30.00	Highest	$123,308	$46,505	$187,428

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	$28,567,402	$58,261,216	$74,803,845	$-29,693,814
2022	$52,108,463	$46,746,323	$96,982,997	$5,362,140
2021	$48,220,635	$40,915,153	$104,428,810	$7,305,482
2020	$26,164,162	$44,137,673	$89,652,105	$-17,973,511
2019	$46,486,379	$38,466,895	$104,617,837	$8,019,484
2018	$36,959,450	$28,638,986	$86,194,916	$8,320,464

LOCAL 817 IBT WELFARE FUND