PSC-CUNY WELFARE FUND (EIN 136220695) - 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

1967

Legal Domicile

Principal Officer

DONNA COSTA

Phone

2123545230

Tax Period

2024-07-01 to 2025-06-30

PSC-CUNY WELFARE FUND, founded in 1967, is a mid-sized nonprofit that reported $48.0M in total revenue in fiscal year 2024. Expenses of $54.5M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL QUALIFYING PLAN PARTICIPANTS.

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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 $45,637,812

Investment Income $2,340,173

Other Revenue $0

TOTAL REVENUE $47,977,985

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,279,821

Fundraising Expenses $0

Other Expenses $1,338,418

TOTAL EXPENSES $54,507,007

Year-over-Year Comparison

	2024	2023	Change
Revenue	$47,977,985	$45,779,277	+0.0%
Expenses	$54,507,007	$45,206,607	+0.2%
Net Income	$-6,529,022	$572,670	-12.4%

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

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

$311,187

Total Directors

$37,581

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN LONDON	EXECUTIVE OFFICER	10.00	Director	$13,089	$0	$26,089
ZEE DEMPSTER	TRUSTEE	1.00	Director	$0	$0	$8,186
BARBARA BOWEN	TRUSTEE EMERITUS	1.00	Director	$0	$0	$3,306
DORIANNE GLORIA	TRUSTEE (P)	1.00	Director	$0	$0	$0
PENELOPE LEWIS	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW MANFREDI	TRUSTEE	1.00	Director	$0	$0	$0
TERRENCE MARTELL	TRUSTEE	2.00	Director	$0	$0	$0
SHARON PERSINGER	TRUSTEE	1.00	Director	$0	$0	$0
FELICIA WHARTON	TRUSTEE	1.00	Director	$0	$0	$0
JAMES DAVIS	CHAIRPERSON	2.00	Director	$0	$0	$0
NIVEDITA MAJUMDAR	SECRETARY (PSC)	1.00	Director	$0	$0	$0
DONNA COSTA	EXECUTIVE DIRECTOR	40.00	Officer	$206,426	$44,799	$251,225
DANIEL PINELLO	SECRETARY	1.00	Officer	$16,249	$0	$32,659
ROBERT CERMELE	TREASURER	12.00	Officer	$27,303	$0	$27,303
MAITE PEREZ	PHARMACIST	40.00	Highest	$134,399	$71,546	$205,945
JOSE QUIJIJE	DIRECTOR OF FINANCIAL SERV	40.00	Highest	$132,839	$71,324	$204,163
SANDRA ZACONETA	EMPLOYEE	40.00	Highest	$129,018	$70,780	$199,798
DAVID OCASIO	EMPLOYEE	40.00	Highest	$123,439	$69,985	$193,424
GREG VAGELATOS	ASSOCIATE DIRECTOR	40.00	Highest	$159,752	$22,765	$182,517

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
2025	$47,977,985	$54,507,007	$102,987,201	$-6,529,022
2024	$45,779,277	$45,206,607	$104,289,091	$572,670
2023	$43,793,554	$46,896,065	$97,346,881	$-3,102,511
2022	$46,782,965	$41,746,052	$97,659,471	$5,036,913
2021	$49,086,444	$37,033,587	$102,358,492	$12,052,857
2020	$51,111,521	$36,655,695	$89,448,661	$14,455,826
2019	$49,718,253	$39,183,300	$73,892,374	$10,534,953
2018	$44,946,167	$36,474,436	$60,318,858	$8,471,731

PSC-CUNY WELFARE FUND