LOCAL 147 TRAINING FUND

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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

2000

Legal Domicile

Principal Officer

CHRISTOPHER FITZSIMMONS

Phone

7189946664

Tax Period

2023-01-01 to 2023-12-31

LOCAL 147 TRAINING FUND, founded in 2000, is a small nonprofit in the Education sector that reported $199K in total revenue in fiscal year 2023. Revenue surged 228% from the prior year, signaling strong growth momentum. The organization ran a surplus of $51K, a strong 26% operating margin.

Mission

TO PROVIDE TRAINING AND EDUCATION TO THE MEMBERS OF LOCAL 147 CONSTRUCTION WORKERS.

Program Service Accomplishments

Program 1

Expenses: $136,147 Revenue: $85,727

CONFERENCES AND EDUCATIONAL CLASSES TO EDUCATE MEMBERS OF ALL SAFETY FEATURES ON THE JOB.

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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 $85,727

Investment Income $113,689

Other Revenue $0

TOTAL REVENUE $199,416

Expense Breakdown

Grants Paid $0

Salaries & Benefits $108,911

Fundraising Expenses $0

Program Expenses $136,147

Other Expenses $39,553

TOTAL EXPENSES $148,464

Year-over-Year Comparison

	2023	2022	Change
Revenue	$199,416	$60,883	+2.3%
Expenses	$148,464	$50,705	+1.9%
Net Income	$50,952	$10,178	+4.0%

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

N/A

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

Total Directors

$584,764

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD FITZSIMMONS	UNION TRUSTEE	1.00	Director	$0	$263,168	$527,104
ROBERT WESSELS	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOHN RYAN	FORMER TRAINING DIRECTOR	1.00	Director	$0	$6,695	$22,870
THOMAS SMITH	TRAINING DIRECTOR	1.00	Director	$26,969	$7,821	$34,790

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	$199,416	$148,464	$1,446,236	$50,952
2022	$60,883	$50,705	$1,406,701	$10,178
2021	$70,557	$178,920	$1,531,875	$-108,363
2020	$66,027	$152,043	$1,667,741	$-86,016
2019	$39,213	$196,657	$1,710,410	$-157,444
2018	$92,060	$76,145	$1,780,528	$15,915