IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND C/O IE SHAFFER CO (EIN 200500732) - 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

2000

Legal Domicile

Principal Officer

MICHAEL G MCLAUGHLIN

Phone

6097181323

Tax Period

2023-01-01 to 2023-12-31

IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND C/O IE SHAFFER CO, founded in 2000, is a mid-sized nonprofit in the Mutual Benefit sector that reported $10.8M in total revenue in fiscal year 2023. Revenue surged 82% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.0M, a strong 28% operating margin.

Mission

TO PROVIDE SUPPLEMENTAL GROUP HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 $10,701,521

Investment Income $119,815

Other Revenue $0

TOTAL REVENUE $10,821,336

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $371,636

TOTAL EXPENSES $7,802,859

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,821,336	$5,944,533	+0.8%
Expenses	$7,802,859	$8,665,026	-0.1%
Net Income	$3,018,477	$-2,720,493	-2.1%

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

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

Total Directors

$740,401

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL G MCLAUGHLIN	TRUSTEE	1.00	Director	$0	$133,309	$372,307
KEVIN P EGAN	TRUSTEE	1.00	Director	$0	$133,862	$365,234
HARRY C ALEXANDER	TRUSTEE	1.00	Director	$0	$0	$0
TERRANCE CRAIG	TRUSTEE	1.00	Director	$0	$0	$0
JEFFERY SHAUTE	TRUSTEE	1.00	Director	$0	$0	$0
DENNIS F CRONIN	TRUSTEE	1.00	Director	$0	$0	$2,860

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	$10,821,336	$7,802,859	$7,868,699	$3,018,477
2022	$5,944,533	$8,665,026	$4,622,350	$-2,720,493
2021	$5,254,915	$6,771,242	$8,250,066	$-1,516,327
2020	$6,877,564	$6,485,878	$10,006,918	$391,686
2019	$5,649,957	$6,803,116	$9,354,890	$-1,153,159
2018	$4,843,180	$7,125,233	$9,965,741	$-2,282,053

IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND C/O IE SHAFFER CO