HEALTH & WELFARE FUND LOCAL 456 IBEW C/O IE SHAFFER & CO (EIN 222317253) - 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

1980

Legal Domicile

Principal Officer

MICHAEL G MCLAUGHLIN

Phone

6097181323

Tax Period

2023-01-01 to 2023-12-31

HEALTH & WELFARE FUND LOCAL 456 IBEW C/O IE SHAFFER & CO, founded in 1980, is a mid-sized nonprofit that reported $25.2M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $23.0M left a modest 8% surplus.

Mission

TO PROVIDE GROUP HEALTH BENEFITS FOR 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 $21,297,151

Investment Income $2,532,512

Other Revenue $1,324,564

TOTAL REVENUE $25,154,227

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $837,682

TOTAL EXPENSES $23,045,015

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,154,227	$21,485,919	+0.2%
Expenses	$23,045,015	$27,668,255	-0.2%
Net Income	$2,109,212	$-6,182,336	-1.3%

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

Total Directors

$740,401

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARRY C ALEXANDER	TRUSTEE	1.00	Director	$0	$0	$0
TERRANCE CRAIG	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY SHAUTE	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL G MCLAUGHLIN	TRUSTEE	1.00	Director	$0	$133,309	$372,307
DENNIS F CRONIN	TRUSTEE	1.00	Director	$0	$0	$2,860
KEVIN P EGAN	TRUSTEE	1.00	Director	$0	$133,862	$365,234

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	$25,154,227	$23,045,015	$74,917,423	$2,109,212
2022	$21,485,919	$27,668,255	$66,828,884	$-6,182,336
2021	$23,555,115	$24,980,820	$85,557,685	$-1,425,705
2020	$26,061,051	$20,419,891	$85,836,287	$5,641,160
2019	$24,636,304	$23,450,012	$75,672,320	$1,186,292
2018	$23,703,914	$24,514,516	$67,066,070	$-810,602

HEALTH & WELFARE FUND LOCAL 456 IBEW C/O IE SHAFFER & CO