LOCAL 560 BUILDING CORPORATION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

JOSEPH DIPALMA

Phone

2018640051

Tax Period

2023-01-01 to 2023-12-31

LOCAL 560 BUILDING CORPORATION, founded in 1993, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue surged 588% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.4M, a strong 85% operating margin.

Mission

TO HOLD TITLE TO AND OPERATE REAL PROPERTY FOR TEAMSTERS LOCAL NO. 560.

Program Service Accomplishments

Program 1

TO HOLD TITLE TO AND OPERATE REAL PROPERTY FOR TEAMSTERS LOCAL NO. 560.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $473,413

Investment Income $2,378,803

Other Revenue $3,322

TOTAL REVENUE $2,855,538

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,154

Fundraising Expenses $0

Other Expenses $350,131

TOTAL EXPENSES $439,285

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,855,538	$415,087	+5.9%
Expenses	$439,285	$389,101	+0.1%
Net Income	$2,416,253	$25,986	+92.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$1,084,493

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH DILEO	RECORDING SECRETARY	0.50	Officer	$0	$88,639	$201,945
LOUIS RODRIGUEZ	SECRETARY-TREASURER	5.00	Officer	$0	$80,503	$197,999
JOSEPH DIPALMA	PRESIDENT	2.00	Officer	$0	$85,514	$207,488
NICHOLAS JAYME	TRUSTEE	0.50	Officer	$0	$79,458	$192,535
HAROLD WELSH JR	VICE PRESIDENT	0.50	Officer	$0	$47,187	$93,706
JOHN TIEDMANN	TRUSTEE	0.50	Officer	$0	$5,401	$23,186
ALFELIX PEREZ	TRUSTEE	0.50	Officer	$0	$56,476	$167,634

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	$2,855,538	$439,285	$3,138,936	$2,416,253
2022	$415,087	$389,101	$591,787	$25,986
2021	$422,123	$335,571	$561,277	$86,552
2020	$396,619	$331,653	$570,702	$64,966
2019	$387,425	$328,504	$522,083	$58,921
2018	$373,299	$307,713	$463,162	$65,586