HEAT AND FROST INSULATORS AND ALLIED WORKERS LOCAL NO 4 WELFARE

EIN: 166032104

BUFFALO, NY

Total Revenue
$1,385,034
Total Expenses
$1,584,219
Total Assets
$1,447,698
Net Assets
$1,384,395
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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
NY
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.

Program Service Accomplishments

Program 1

THE GROUP INSURANCE PROGRAM PROVIDED HEALTH INSURANCE, HOSPITALIZATION, MAJOR MEDICAL, ACCIDENTAL DEATH & DISMEMBERMENT, HEALTH EXPENSE REIMBURSEMENTS, DISABILITY PAYMENTS FOR ELIGIBLE MEMBERS.

Program 2

THE INDUSTRY TRAINING PROGRAM PROVIDED FOUR YEARS OF CLASSROOM INSTRUCTION AND ON THE JOB TRAINING FOR INDIVIDUALS ACCEPTED INTO THE APPRENTICE TRAINING PROGRAM.

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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 $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

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Governance

Voting Members
6
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
1
$144,434
Total Directors
6
$173,763
Key Employees
0
$0
Highest Compensated
0
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
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