HEAT AND FROST INSULATORS AND ALLIED WORKERS LOCAL NO 4 WELFARE (EIN 166032104) - 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

1954

Legal Domicile

Principal Officer

JOHN FADELEY

Phone

7168217919

Tax Period

2023-01-01 to 2023-12-31

HEAT AND FROST INSULATORS AND ALLIED WORKERS LOCAL NO 4 WELFARE, founded in 1954, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $1.6M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HEALTH INSURANCE, HOSPITALIZATION, MAJOR MEDICAL, ACCIDENTAL DEATH & DISMEMBERMENT, HEALTH EXPENSE REIMBURSEMENTS, DISABILITY PAYMENTS FOR ELIGIBLE MEMBERS AND THE TRAINING OF APPRENTICE MEMBERS OF THE UNION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,355,451

Investment Income $18,380

Other Revenue $11,203

TOTAL REVENUE $1,385,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $86,974

Fundraising Expenses $0

Other Expenses $133,371

TOTAL EXPENSES $1,584,219

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,385,034	$1,622,408	-0.1%
Expenses	$1,584,219	$1,641,193	0.0%
Net Income	$-199,185	$-18,785	+9.6%

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

$144,434

Total Directors

$173,763

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES MALTBY	UNION TRUSTE	1.00	Director	$0	$74,449	$165,125
JOHN FADELEY	ADMINISTRATO	18.00	Officer	$0	$55,824	$144,434
ARTHUR FADELEY	UNION TRUSTE	1.00	Director	$0	$5,358	$5,358
TRAVIS MCKINSEY	UNION TRUSTE	1.00	Director	$0	$1,447	$3,280
NICHOLAS MOLLE	EMPLOYER TRU	1.00	Director	$0	$0	$0
CHRISTOPHER SWEDA	EMPLOYER TRU	1.00	Director	$0	$0	$0
JON WOPPERER	EMPLOYER TRU	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
2024	No data	No data	No data	No data
2023	$1,385,034	$1,584,219	$1,447,698	$-199,185
2022	$1,622,408	$1,641,193	$1,604,960	$-18,785
2021	$1,652,118	$1,859,903	$1,761,718	$-207,785
2020	$1,715,311	$1,921,778	$1,974,719	$-206,467
2019	$1,869,274	$1,811,728	$2,095,750	$57,546
2018	$1,842,955	$1,878,401	$1,955,226	$-35,446

HEAT AND FROST INSULATORS AND ALLIED WORKERS LOCAL NO 4 WELFARE