LAUNDRY & DRY CLEANING WORKERS EDU… - Form 990 Financial Data

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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

2004

Legal Domicile

Principal Officer

MICHAEL POTACK

Phone

9143675000

Tax Period

2024-01-01 to 2024-12-31

LAUNDRY & DRY CLEANING WORKERS EDUCATION & LEGAL ASSISTANCE FUND WORKERS UNITED, founded in 2004, is a small nonprofit in the Mutual Benefit sector that reported $381K in total revenue in fiscal year 2024. Revenue surged 68% from the prior year, signaling strong growth momentum. The organization ran a surplus of $103K, a strong 27% operating margin.

Mission

TO PROVIDE EDUCATIONAL AND TRAINING BENEFITS AS WELL AS LEGAL ASSISTANCE TO ELIGIBLE PARTICIPANTS.

Program Service Accomplishments

Program 1

TO PROVIDE EDUCATIONAL AND TRAINING BENEFITS AS WELL AS LEGAL ASSISTANCE 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $308,389

Investment Income $72,496

Other Revenue $0

TOTAL REVENUE $380,885

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $121,487

TOTAL EXPENSES $277,486

Year-over-Year Comparison

	2024	2023	Change
Revenue	$380,885	$226,741	+0.7%
Expenses	$277,486	$216,534	+0.3%
Net Income	$103,399	$10,207	+9.1%

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

$346,417

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL POTACK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MEGHAN CHAMBERS	UNION TRUSTEE	1.00	Director	$0	$44,850	$173,175
ALBERTO ARROYO	UNION TRUSTEE	1.00	Director	$0	$44,850	$173,242
JOHN MAGLIOCCO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
DANIEL SILVERMAN	UNION TRUSTEE	1.00	Director	$0	$0	$0
ROBERT POTACK	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
2024	$380,885	$277,486	$1,217,847	$103,399
2023	$226,741	$216,534	$1,154,112	$10,207
2022	$310,900	$176,382	$979,086	$134,518
2021	$287,827	$167,555	$1,030,576	$120,272
2020	$243,023	$157,045	$965,233	$85,978
2019	$317,544	$173,903	$868,517	$143,641
2018	$295,574	$169,011	$716,086	$126,563

LAUNDRY & DRY CLEANING WORKERS EDUCATION & LEGAL ASSISTANCE FUND WORKERS UNITED