IBEW LOCAL 351

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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

1940

Legal Domicile

Principal Officer

DANIEL COSNER

Phone

6097048351

Tax Period

2025-01-01 to 2025-12-31

IBEW LOCAL 351, founded in 1940, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2025. Expenses of $7.7M exceeded revenue, resulting in a 18% operating deficit.

Mission

LOCAL UNION REPRESENTS MEMBERS IN DEALING WITH BUILDING CONTRACTORS, SETTLING GRIEVANCES, AND NEGOTIATING WAGES AND BENEFITS.

Program Service Accomplishments

Program 1

LOCAL UNION REPRESENTS MEMBERS IN DEALING WITH BUILDING CONTRACTORS, SETTLING GRIEVANCES, AND NEGOTIATING WAGES AND BENEFITS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,321,575

Investment Income $623,201

Other Revenue $609,024

TOTAL REVENUE $6,553,800

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,470,473

Fundraising Expenses $0

Other Expenses $3,924,310

TOTAL EXPENSES $7,700,729

Year-over-Year Comparison

	2025	2024	Change
Revenue	$6,553,800	$6,704,430	0.0%
Expenses	$7,700,729	$7,532,869	+0.0%
Net Income	$-1,146,929	$-828,439	+0.4%

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

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

$3,027,709

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL COSNER	BUS. MGR/FINANCIAL SEC	40.00	Officer	$299,347	$176,033	$475,380
CHARLES D DELLA VECCHIA	PRESIDENT/ASST. BUS. MGR	40.00	Officer	$270,621	$156,339	$426,960
ROY M FOSTER	ASST. BUS. MGR/E-BOARD	40.00	Officer	$260,302	$155,092	$415,394
STEVEN P DIMATTEO	BUSINESS AGENT/TREASURER	40.00	Officer	$208,244	$130,621	$338,865
STEPHEN GANDY	BUSINESS AGENT/E-BOARD	40.00	Officer	$208,244	$129,579	$337,823
JOHN S GRAY	BUSINESS AGENT/VICE PRESIDENT	40.00	Officer	$208,244	$129,579	$337,823
RYCK SIGNOR	BUSINESS AGENT/REC. SEC.	40.00	Officer	$208,244	$129,579	$337,823
HARRY HELSEL	BUSINESS AGENT/E-BOARD	40.00	Officer	$208,244	$129,579	$337,823
JOHN E HELSEL	FORMER E-BOARD	3.00	Officer	$771	$0	$771
CONRAD H SHAFFER	FORMER EXECUTIVE BOARD	3.00	Officer	$2,312	$0	$2,312
DONALD W MORGAN	EXECUTIVE BOARD	3.00	Officer	$4,005	$0	$4,005
KEVIN MALINOWSKI	EXECUTIVE BOARD	3.00	Officer	$4,005	$0	$4,005
MIKE D'ALESSANDRIS	EXECUTIVE BOARD	3.00	Officer	$4,005	$0	$4,005
MICHAEL BEACH	EXECUTIVE BOARD	3.00	Officer	$2,463	$0	$2,463
JOSEPH R BARBECK	EXECUTIVE BOARD	3.00	Officer	$1,693	$0	$1,693
BARRY BAND	E-BOARD	3.00	Officer	$564	$0	$564

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
2025	$6,553,800	$7,700,729	$15,957,688	$-1,146,929
2024	$6,704,430	$7,532,869	$16,672,351	$-828,439
2023	$6,275,245	$7,164,797	$17,094,906	$-889,552
2022	$5,259,580	$6,855,434	$17,052,470	$-1,595,854
2021	$6,535,507	$6,401,892	$19,554,603	$133,615
2020	$5,477,387	$6,320,874	$19,702,062	$-843,487
2019	$6,283,565	$6,482,118	$20,006,701	$-198,553
2018	$6,591,888	$6,241,673	$18,951,298	$350,215