IBEW LOCAL NO 241 WELFARE FUND (EIN 150347948) - 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

1960

Legal Domicile

Principal Officer

TODD BRUER

Phone

6072722809

Tax Period

2024-06-01 to 2025-05-31

IBEW LOCAL NO 241 WELFARE FUND, founded in 1960, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $968K, a strong 20% operating margin.

Mission

THE PLAN PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, VISION AND DENTAL, LIFE AND ACCIDENTAL DEATH BENEFITS TO ELIGIBLE 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 $4,197,521

Investment Income $693,365

Other Revenue $2,189

TOTAL REVENUE $4,893,075

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,924,723

Other Expenses $409,407

TOTAL EXPENSES $3,924,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,893,075	$4,518,020	+0.1%
Expenses	$3,924,723	$3,367,659	+0.2%
Net Income	$968,352	$1,150,361	-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

$178,350

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD BRUER	ADMINISTRATOR	0.50	Director	$0	$66,102	$175,102
MICHAEL HEROLD	TRUSTEE	0.50	Director	$0	$0	$2,272
BRIAN WEATHERBY	TRUSTEE	0.50	Director	$0	$0	$976
GEORGE DENMARK	TRUSTEE	0.50	Director	$0	$0	$0
MEREDITH KUMPON	TRUSTEE	0.50	Director	$0	$0	$0
JOSHUA WHITMORE	TRUSTEE	0.50	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
2025	$4,893,075	$3,924,723	$12,682,548	$968,352
2024	$4,518,020	$3,367,659	$11,813,831	$1,150,361
2023	$3,629,590	$3,162,495	$10,219,252	$467,095
2022	$3,349,729	$2,618,032	$10,452,620	$731,697
2021	$3,142,360	$2,368,346	$11,266,624	$774,014
2020	$2,739,525	$2,297,301	$8,979,975	$442,224
2019	$3,331,576	$2,260,313	$8,396,266	$1,071,263
2018	$2,902,014	$2,235,561	$7,410,146	$666,453

IBEW LOCAL NO 241 WELFARE FUND