NORTHERN ILLINOIS WELFARE FUND

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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

2006

Legal Domicile

Principal Officer

ROCKY RAIKES

Phone

8153160645

Tax Period

2024-05-01 to 2025-04-30

NORTHERN ILLINOIS WELFARE FUND, founded in 2006, is a community nonprofit in the Mutual Benefit sector that reported $1.8M in total revenue in fiscal year 2024.

Mission

PROVIDING HEALTH AND WELFARE BENEFITS FOR ELIGIBLE ACTIVE AND RETIRED EMPLOYEES, INCLUDING ELIGIBLE DEPENDENTS, OF VARIOUS PARTICIPATING LOCAL UNION MEMBER EMPLOYERS LOCATED IN NORTHERN AND CENTRAL ILLINOIS COVERED UNDER THE COLLECTIVE BARGAINING AGREEMENT.

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH & WELFARE BENEFITS TO ALL CURRENT EMPLOYEES AND RETIREES OF THE PARTICIPATING LOCALS AND THEIR ELIGIBLE DEPENDENTS COVERED UNDER THE PLAN. 2,546 PARTICIPANTS AT YEAR END.

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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 $1,715,053

Investment Income $127,398

Other Revenue $0

TOTAL REVENUE $1,842,451

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $99,398

TOTAL EXPENSES $1,963,830

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,842,451	$1,771,034	+0.0%
Expenses	$1,963,830	$1,617,300	+0.2%
Net Income	$-121,379	$153,734	-1.8%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROCKY RAIKES	CHAIRMAN	2.00	Officer Director	$0	$0	$0
KEN DIEHL	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
DAVID ANSPAUGH	TRUSTEE	2.00	Director	$0	$0	$0
CHRIS KIME	TRUSTEE	2.00	Director	$0	$0	$0
JAMIE LAWSON	TRUSTEE	2.00	Director	$0	$0	$0
VICTOR MANCILLA	TRUSTEE	2.00	Director	$0	$0	$0
FORTUNATO SALAMONE	TRUSTEE	2.00	Director	$0	$0	$0
MIKE SMITH	TRUSTEE	2.00	Director	$0	$0	$0
GLEN TURPOFF	TRUSTEE	2.00	Director	$0	$0	$0
MIKE TUTHILL	TRUSTEE	2.00	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	$1,842,451	$1,963,830	$3,628,322	$-121,379
2024	$1,771,034	$1,617,300	$3,793,193	$153,734
2023	$1,817,681	$1,401,045	$3,572,845	$416,636
2022	$1,719,325	$1,249,863	$3,183,047	$469,462
2021	$1,466,184	$1,130,849	$2,740,413	$335,335
2020	$1,263,767	$952,015	$2,260,466	$311,752
2019	$1,210,045	$1,062,463	$2,022,044	$147,582
2018	$1,161,326	$884,938	$1,891,326	$276,388