IBEW LOCAL 43 & ELECTRICAL CONTRACTORS WELFARE FUND BOARD OF TRUSTEES

EIN: 156025163

SYRACUSE, NY

Total Revenue
$25,924,149
Total Expenses
$21,413,014
Total Assets
$75,295,787
Net Assets
$74,764,658
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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
1959
Legal Domicile
NY
Principal Officer
ALAN MARZULLO
Phone
3154745729
Tax Period
2024-07-01 to 2025-06-30

IBEW LOCAL 43 & ELECTRICAL CONTRACTORS WELFARE FUND BOARD OF TRUSTEES, founded in 1959, is a mid-sized nonprofit that reported $25.9M in total revenue in fiscal year 2024. The organization ran a surplus of $4.5M, a strong 17% operating margin.

Mission

UNION HEALTH AND WELFARE BENEFITS

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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 $24,163,606
Investment Income $1,313,163
Other Revenue $447,380
TOTAL REVENUE $25,924,149

Expense Breakdown

Grants Paid $0
Salaries & Benefits $608,432
Fundraising Expenses $0
Other Expenses $571,693
TOTAL EXPENSES $21,413,014

Year-over-Year Comparison

2024 2023 Change
Revenue $25,924,149 $24,535,686 +0.1%
Expenses $21,413,014 $19,018,167 +0.1%
Net Income $4,511,135 $5,517,519 -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

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Governance

Voting Members
8
Independent Members
6
Employees
5
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
1
$145,976
Total Directors
8
$471,840
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLEN MEYERS II TRUSTEE 1.00
Director
$2,864 $1,948 $4,812
LAWRENCE BECKER TRUSTEE 1.00
Director
$0 $0 $0
KEVIN CRAWFORD TRUSTEE 1.00
Director
$0 $0 $0
ALAN MARZULLO TRUSTEE 1.00
Director
$0 $85,623 $241,876
JAMES ENGLER JR TRUSTEE 1.00
Director
$0 $0 $0
MARILYN OPPEDISANO TRUSTEE 1.00
Director
$0 $0 $0
PATRICK HARRINGTON TRUSTEE 1.00
Director
$0 $85,623 $225,152
NICHOLAS OPPEDISANO TRUSTEE 1.00
Director
$0 $0 $0
KEVIN KOVAL FUND MANAGER 40.00
Officer
$85,550 $60,426 $145,976
SHEILA FITZMAUICE FORMER FUND MANAGER-RETIRED 12/31/24 40.00
$124,347 $82,118 $206,465
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 $25,924,149 $21,413,014 $75,295,787 $4,511,135
2024 $24,535,686 $19,018,167 $67,237,106 $5,517,519
2023 $23,582,750 $18,177,643 $59,527,953 $5,405,107
2022 $23,322,409 $17,679,997 $54,107,460 $5,642,412
2021 $21,794,123 $16,559,650 $51,065,801 $5,234,473
2020 $18,655,715 $15,583,226 $44,031,504 $3,072,489
2019 $17,386,349 $13,882,578 $39,270,626 $3,503,771
2018 $16,501,624 $15,226,907 $34,168,451 $1,274,717
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