LOCAL 73 HEALTH & WELFARE FUND (EIN 161067148) - 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

1970

Legal Domicile

Principal Officer

PATRICK CARROLL

Phone

3153431808

Tax Period

2022-05-01 to 2023-04-30

LOCAL 73 HEALTH & WELFARE FUND, founded in 1970, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2022. Revenue decreased 9% compared to the prior year. Expenses of $3.5M exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE HEALTH BENEFITS TO QUALIFYING MEMBERS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,763,585

Investment Income $156,465

Other Revenue $145,013

TOTAL REVENUE $3,065,063

Expense Breakdown

Grants Paid $0

Salaries & Benefits $272,372

Fundraising Expenses $0

Other Expenses $135,845

TOTAL EXPENSES $3,535,398

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,065,063	$3,358,093	-0.1%
Expenses	$3,535,398	$3,499,644	+0.0%
Net Income	$-470,335	$-141,551	+2.3%

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

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

$121,657

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL CULETON	TRUSTEE	1.00	Director	$0	$0	$0
ERIC SAUNDERS	TRUSTEE	1.00	Director	$0	$0	$0
FREDERICK VOLKOMER II	TRUSTEE	1.00	Director	$0	$0	$0
JOHN JASKULA	TRUSTEE	1.00	Director	$0	$0	$0
PATRICK J CARROLL	TRUSTEE	5.00	Director	$0	$0	$0
THOMAS HOPSICKER	TRUSTEE	1.00	Director	$0	$0	$0
HEATHER TURK	PLAN MANAGER	40.00	Officer	$72,192	$49,465	$121,657

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
2023	$2,569,619	$2,136,540	No data	$433,079
2023	$3,065,063	$3,535,398	$8,182,037	$-470,335
2022	$3,358,093	$3,499,644	$8,545,022	$-141,551
2021	$3,058,695	$2,647,490	$9,137,790	$411,205
2020	$3,331,880	$3,327,620	$8,114,576	$4,260
2019	$3,416,172	$3,380,853	$7,891,808	$35,319
2018	$3,326,859	$3,138,095	$7,698,211	$188,764

LOCAL 73 HEALTH & WELFARE FUND