IBEW LOCAL UNION #456

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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

1915

Legal Domicile

Principal Officer

MICHAEL G MCLAUGHLIN

Phone

7322462122

Tax Period

2025-01-01 to 2025-12-31

IBEW LOCAL UNION #456, founded in 1915, is a community nonprofit that reported $6.4M in total revenue in fiscal year 2025. The organization ran a surplus of $2.2M, a strong 35% operating margin.

Mission

TO PROMOTE THE WELFARE OF ITS MEMBERS AND TO STRIVE TO ENHANCE THE WORKING CONDITIONS FOR ITS MEMBERS EMPLOYED IN THE ELECTRICAL CONSTRUCTION INDUSTRY.

Program Service Accomplishments

Program 1

LABOR UNION ORGANIZED TO REPRESENT ELECTRICAL WORKERS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,167,084

Investment Income $1,100,292

Other Revenue $152,255

TOTAL REVENUE $6,419,631

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,379,622

Fundraising Expenses $0

Other Expenses $1,807,086

TOTAL EXPENSES $4,186,708

Year-over-Year Comparison

	2025	2024	Change
Revenue	$6,419,631	$6,360,978	+0.0%
Expenses	$4,186,708	$4,513,181	-0.1%
Net Income	$2,232,923	$1,847,797	+0.2%

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

N/A

Employees

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

$2,018,121

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL G MCLAUGHLIN	PRESIDENT	40.00	Officer	$254,072	$133,998	$388,070
MICHAEL P BLACK	RECORDING SECRETARY	4.00	Officer	$4,056	$0	$4,056
WARREN W SMITH	TREASURER	6.00	Officer	$8,637	$0	$8,637
JOSEPH V EGAN	BUSINESS MANAGER	40.00	Officer	$290,084	$155,216	$445,300
DENNIS F CRONIN	EXECUTIVE BOARD	3.00	Officer	$1,752	$0	$1,752
EDWARD M SOFIELD	EXECUTIVE BOARD	3.00	Officer	$3,041	$0	$3,041
JOHN P SHERRY	EXECUTIVE BOARD	3.00	Officer	$1,752	$0	$1,752
RICHARD SHINE JR	EXECUTIVE BOARD	3.00	Officer	$3,041	$0	$3,041
ALAN BULVANOSKI	BUSINESS REPRESENTATIVE	40.00	Officer	$246,133	$133,998	$380,131
WAYNE MARTIAK SR	BUSINESS REPRESENTATIVE	40.00	Officer	$246,132	$133,998	$380,130
ANDREW BRYS	VICE PRESIDENT	3.00	Officer	$3,870	$0	$3,870
KEVIN P EGAN	BUSINESS REPRESENTATIVE	40.00	Officer	$246,132	$133,998	$380,130
RICKY L CARR	EXECUTIVE BOARD	3.00	Officer	$3,041	$0	$3,041
TIMOTHY MCMAHON	EXECUTIVE BOARD	3.00	Officer	$7,403	$0	$7,403
BRYAN WITHAM	EXECUTIVE BOARD	3.00	Officer	$7,767	$0	$7,767

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	$6,419,631	$4,186,708	$24,879,556	$2,232,923
2024	$6,360,978	$4,513,181	$22,256,772	$1,847,797
2023	$5,965,074	$4,117,888	$20,414,079	$1,847,186
2022	$3,542,960	$4,113,583	$18,313,830	$-570,623
2021	$3,986,311	$3,846,632	$20,214,352	$139,679
2020	$5,109,723	$4,464,707	$19,308,996	$645,016
2019	$4,791,126	$4,663,374	$18,292,946	$127,752
2018	$4,906,136	$4,452,569	$17,209,525	$453,567