IRON WORKERS LOCAL UNION NO 60 SUPPLEMENTAL BENEFIT PLAN

EIN: 161500669

SYRACUSE, NY

Total Revenue
$4,000,312
Total Expenses
$2,781,903
Total Assets
$19,630,532
Net Assets
$19,412,040
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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
1996
Legal Domicile
NY
Principal Officer
MATTHEW NESBITT
Phone
3154228209
Tax Period
2024-07-01 to 2025-06-30

IRON WORKERS LOCAL UNION NO 60 SUPPLEMENTAL BENEFIT PLAN, founded in 1996, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.2M, a strong 30% operating margin.

Mission

PROVIDE BENEFITS TO UNION MEMBERS

Program Service Accomplishments

Program 1

THE PLAN PROVIDES SHORT TERM DISABILITY INSURANCE COVERAGE FOR MEMBERS AND GROUP LIFE INSURANCE COVERAGE AND HEALTH BENEFITS FOR 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,319,078
Investment Income $598,046
Other Revenue $83,188
TOTAL REVENUE $4,000,312

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $308,377
TOTAL EXPENSES $2,781,903

Year-over-Year Comparison

2024 2023 Change
Revenue $4,000,312 $3,291,628 +0.2%
Expenses $2,781,903 $2,173,817 +0.3%
Net Income $1,218,409 $1,117,811 +0.1%
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
5
Independent Members
3
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
2
$464,122
Total Directors
5
$464,122
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT NESBITT BUSINESS MANAGER 1.00
Officer Director
$0 $99,848 $235,945
COREY MOSSOW TRUSTEE / RECORDING SECRETARY 1.00
Officer Director
$0 $97,900 $228,177
EMILY ABRANTES-WELLER EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
BLAIR LONGO EMPLOYER TRUSTEE 1.00
Director
$0 $0 $0
JOHN SZVOREN EMPLOYER TRUSTEE 1.00
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 $4,000,312 $2,781,903 $19,630,532 $1,218,409
2024 No data No data No data No data
2023 $3,160,881 $2,108,548 $14,853,512 $1,052,333
2022 $3,418,546 $2,651,955 $13,198,203 $766,591
2021 $4,106,071 $2,627,487 $14,348,614 $1,478,584
2020 $3,794,243 $2,861,778 $11,143,395 $932,465
2019 $3,505,149 $2,453,172 $10,378,718 $1,051,977
2018 $3,111,665 $2,725,316 $9,212,990 $386,349
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