LOCAL 351 IBEW HEALTH AND WELFARE FUND C/O IE SHAFFER & CO (EIN 223235800) - 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

1993

Legal Domicile

Principal Officer

DANIEL COSNER

Phone

6097181323

Tax Period

2023-01-01 to 2023-12-31

LOCAL 351 IBEW HEALTH AND WELFARE FUND C/O IE SHAFFER & CO, founded in 1993, is a mid-sized nonprofit that reported $37.4M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

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 $37,091,029

Investment Income $305,271

Other Revenue $0

TOTAL REVENUE $37,396,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $37,617,300

Other Expenses $839,124

TOTAL EXPENSES $38,456,424

Year-over-Year Comparison

	2023	2022	Change
Revenue	$37,396,300	$33,343,361	+0.1%
Expenses	$38,456,424	$38,645,948	0.0%
Net Income	$-1,060,124	$-5,302,587	-0.8%

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

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

$1,154,691

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROY FOSTER	TRUSTEE	1.00	Director	$0	$143,803	$388,263
STEVEN DIMATTEO	TRUSTEE	1.00	Director	$0	$124,020	$319,589
JEFFERY HOUDE	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH KNECHT JR	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS J PETERSON	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL COSNER	TRUSTEE	1.00	Director	$0	$165,710	$446,839

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	$37,396,300	$38,456,424	$23,491,507	$-1,060,124
2022	$33,343,361	$38,645,948	$24,433,930	$-5,302,587
2021	$33,519,027	$37,190,885	$31,719,611	$-3,671,858
2020	$37,519,422	$33,446,465	$38,075,327	$4,072,957
2019	$37,918,332	$33,730,280	$29,770,246	$4,188,052
2018	$41,465,638	$31,891,405	$24,695,836	$9,574,233

LOCAL 351 IBEW HEALTH AND WELFARE FUND C/O IE SHAFFER & CO