TEAMSTERS LOCAL UNION NO 408 IB OF T WELFARE FUND (EIN 221668940) - 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

1960

Legal Domicile

Principal Officer

JOSEPH DIPALMA

Phone

9089649177

Tax Period

2024-01-01 to 2024-12-31

TEAMSTERS LOCAL UNION NO 408 IB OF T WELFARE FUND, founded in 1960, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $747K, a strong 18% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO 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 $3,158,258

Investment Income $1,070,617

Other Revenue $3,463

TOTAL REVENUE $4,232,338

Expense Breakdown

Grants Paid $0

Salaries & Benefits $191,709

Fundraising Expenses $0

Other Expenses $456,005

TOTAL EXPENSES $3,485,287

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,232,338	$3,864,102	+0.1%
Expenses	$3,485,287	$4,214,050	-0.2%
Net Income	$747,051	$-349,948	-3.1%

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

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

$176,855

Total Directors

$428,162

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH DIPALMA	TRUSTEE	1.00	Director	$0	$87,903	$216,330
JOSEPH DILEO	TRUSTEE	1.00	Director	$0	$92,075	$211,832
ROBERT HRYSZKO SR	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT KLEIN	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS MISKEWITZ	TRUSTEE	1.00	Director	$0	$0	$0
ROSALIND TOMEIO	FUND MANAGER	40.00	Officer	$57,381	$64,343	$176,855

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	$4,232,338	$3,485,287	$13,367,434	$747,051
2023	$3,864,102	$4,214,050	$12,727,013	$-349,948
2022	$3,044,750	$3,758,696	$11,594,174	$-713,946
2021	$4,525,528	$2,882,335	$14,005,069	$1,643,193
2020	$3,574,556	$3,009,593	$12,265,257	$564,963
2019	$4,139,820	$3,980,723	$11,391,369	$159,097
2018	$4,434,608	$3,958,760	$10,377,619	$475,848

TEAMSTERS LOCAL UNION NO 408 IB OF T WELFARE FUND