TRUCKING EMPLOYEES OF NORTH JERSEY WELFARE FUND (EIN 221461069) - 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

1948

Legal Domicile

Principal Officer

ROBERT BLUMENFELD

Phone

2018673553

Tax Period

2023-01-01 to 2023-12-31

TRUCKING EMPLOYEES OF NORTH JERSEY WELFARE FUND, founded in 1948, is a mid-sized nonprofit that reported $16.7M in total revenue in fiscal year 2023.

Mission

TO PROVIDE 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 $15,126,233

Investment Income $285,736

Other Revenue $1,334,817

TOTAL REVENUE $16,746,786

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,153,314

Fundraising Expenses $0

Other Expenses $823,717

TOTAL EXPENSES $17,054,293

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,746,786	$16,273,614	+0.0%
Expenses	$17,054,293	$19,874,107	-0.1%
Net Income	$-307,507	$-3,600,493	-0.9%

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

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

$326,322

Total Directors

$571,451

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWIN H STIER	UNION TRUSTEE	1.00	Director	$3,794	$0	$3,794
RICK DENICOLA	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH DIPALMA	UNION TRUSTEE	1.00	Director	$0	$85,514	$207,488
WILLIAM NATIONS	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
NICHOLAS JAYME	UNION TRUSTEE	1.00	Director	$0	$79,458	$192,535
MIKE HANSEN	EMPLOYER TRUSTEE ALTERNATE	1.00	Director	$0	$0	$0
ALEX PEREZ	UNION TRUSTEE ALTERNATE	1.00	Director	$0	$56,476	$167,634
ROBERT BLUMENFELD	FUND ADMINISTRATOR	12.00	Officer	$261,392	$64,930	$326,322
BRIAN MCCLOSKEY	CONTROLLER	8.00	Highest	$194,100	$58,233	$252,333

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	$16,746,786	$17,054,293	$31,107,734	$-307,507
2022	$16,273,614	$19,874,107	$30,323,993	$-3,600,493
2021	$18,951,458	$20,031,798	$37,554,706	$-1,080,340
2020	$17,061,552	$17,187,829	$41,072,754	$-126,277
2019	$19,217,973	$22,050,106	$40,169,293	$-2,832,133
2018	$20,742,868	$20,683,352	$40,102,595	$59,516

TRUCKING EMPLOYEES OF NORTH JERSEY WELFARE FUND