IBEW LOCAL UNION NO 237 HEALTH AND WELFARE FUND

EIN: 160834222

NIAGARA FALLS, NY

Total Revenue
$6,534,616
Total Expenses
$5,250,601
Total Assets
$12,139,178
Net Assets
$11,921,910
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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
1958
Legal Domicile
NY
Principal Officer
ANGELA STANISZ
Phone
7162973650
Tax Period
2023-01-01 to 2023-12-31

IBEW LOCAL UNION NO 237 HEALTH AND WELFARE FUND, founded in 1958, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.3M, a strong 20% operating margin.

Mission

TO PROVIDE MEMBERS WITH MEDICAL AND WELFARE BENEFITS

Program Service Accomplishments

Program 1
Expenses: $5,250,601

THE FUND PROVIDES BENEFITS TO ITS MEMBERS, INCLUDING HOSPITALIZATION, MAJOR MEDICAL, PRESCRIPTION DRUG, HEALTH AND LIFE INSURANCE, DENTAL AND VISION CARE, VACATION, UNEMPLOYMENT SUB-PAY, DISABILITY...

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THE FUND PROVIDES BENEFITS TO ITS MEMBERS, INCLUDING HOSPITALIZATION, MAJOR MEDICAL, PRESCRIPTION DRUG, HEALTH AND LIFE INSURANCE, DENTAL AND VISION CARE, VACATION, UNEMPLOYMENT SUB-PAY, DISABILITY SUB-PAY, WORKERS COMPENSATION SUB-PAY, EDUCATION, AND REIMBURSEMENT OF QUALIFYING MEDICAL EXPENSES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $6,198,714
Investment Income $218,812
Other Revenue $117,090
TOTAL REVENUE $6,534,616

Expense Breakdown

Grants Paid $0
Salaries & Benefits $378,904
Fundraising Expenses $0
Program Expenses $5,250,601
Other Expenses $209,686
TOTAL EXPENSES $5,250,601

Year-over-Year Comparison

2023 2022 Change
Revenue $6,534,616 $5,470,983 +0.2%
Expenses $5,250,601 $4,554,078 +0.2%
Net Income $1,284,015 $916,905 +0.4%
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

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Governance

Voting Members
6
Independent Members
3
Employees
232
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
3
$88,145
Total Directors
6
$30,345
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRED DEMAIS UNION TRUSTEE 1.00
Director
$11,103 $0 $11,103
MARC BRUNELLE MANAGEMENT TRUSTEE 1.00
Director
$0 $0 $0
RENEE LAMONACO MANAGEMENT TRUSTEE 1.00
Director
$0 $0 $0
JOHN SCHERRER UNION TRUSTEE 1.00
Officer Director
$559 $0 $559
RICHARD LOMBARD MANAGEMENT TRUSTEE 1.00
Director
$0 $0 $0
CODY SAMOL UNION TRUSTEE 1.00
Director
$18,683 $0 $18,683
ASHLEY A STOGNER ASSISTANT FUND ADMINISTRAT 16.00
Officer
$49,556 $0 $49,556
ANGELA STANISZ FUND ADMINISTRATOR 12.00
Officer
$38,030 $0 $38,030
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 $6,534,616 $5,250,601 $12,139,178 $1,284,015
2022 $5,470,983 $4,554,078 $9,808,872 $916,905
2021 $4,878,416 $3,674,315 $10,293,440 $1,204,101
2020 $3,667,267 $3,433,936 $8,762,830 $233,331
2019 $4,634,870 $3,999,872 $8,126,151 $634,998
2018 $3,987,987 $4,067,317 $7,005,926 $-79,330
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