WESTCHESTER TEAMSTERS MUNICIPAL EMPLOYEES WELFARE FUND

EIN: 136804536

ELMSFORD, NY

Total Revenue
$1,912,104
Total Expenses
$3,535,807
Total Assets
$29,733,933
Net Assets
$26,504,120
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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
1981
Legal Domicile
NY
Principal Officer
LOUIS A PICANI
Phone
9145929330
Tax Period
2024-01-01 to 2024-12-31

WESTCHESTER TEAMSTERS MUNICIPAL EMPLOYEES WELFARE FUND, founded in 1981, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $3.5M exceeded revenue, resulting in a 85% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS.

Program Service Accomplishments

Program 1

CONTRIBUTIONS BY MUNICIPALITIES PROVIDE HEALTH AND WELFARE BENEFITS FOR THEIR EMPLOYEES AND THEIR ELIGIBLE 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,989,864
Investment Income $-77,760
Other Revenue $0
TOTAL REVENUE $1,912,104

Expense Breakdown

Grants Paid $0
Salaries & Benefits $98,995
Fundraising Expenses $0
Other Expenses $352,157
TOTAL EXPENSES $3,535,807

Year-over-Year Comparison

2024 2023 Change
Revenue $1,912,104 $2,795,973 -0.3%
Expenses $3,535,807 $2,347,796 +0.5%
Net Income $-1,623,703 $448,177 -4.6%
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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Governance

Voting Members
8
Independent Members
4
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
0
$0
Total Directors
8
$1,423,073
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LOUIS A PICANI UNION TRUSTEE 1.00
Director
$0 $92,319 $409,288
JOSEPH SANSONE UNION TRUSTEE 1.00
Director
$0 $101,797 $368,584
DOMINICK CASSANELLI JR UNION TRUSTEE 1.00
Director
$0 $94,838 $327,603
ROGER TARANTO UNION TRUTEE 1.00
Director
$0 $89,940 $309,198
JOSEPH MARTIMUCCI TRUSTEE (YONKERS) 1.00
Director
$0 $0 $0
JAMES MCGRATH TRUSTEE (PEEKSKILL BLUE) 1.00
Director
$0 $0 $4,200
ROBERT RICHARDSON TRUSTEE (MOUNT VERNON) 1.00
Director
$0 $0 $4,200
GIUSEPPE SINDONA TRUSTEE (YONKERS) 1.00
Director
$0 $0 $0
BRENDA GALEA-RITCH ADMINISTRATOR 6.00
Highest
$0 $48,464 $195,279
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 $1,912,104 $3,535,807 $29,733,933 $-1,623,703
2023 $2,795,973 $2,347,796 $26,905,012 $448,177
2022 $3,985,835 $1,811,306 $24,228,083 $2,174,529
2021 $3,752,402 $2,001,837 $28,573,775 $1,750,565
2020 $2,515,000 $1,614,297 $25,150,090 $900,703
2019 $2,894,173 $2,110,672 $22,284,192 $783,501
2018 $5,453,391 $2,330,962 $18,583,242 $3,122,429
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