IBEW LOCAL 269 WELFARE AND SUPPLEMENTAL (EIN 223611027) - 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

1998

Legal Domicile

Principal Officer

STEPHEN ALDRICH

Phone

6093948129

Tax Period

2023-01-01 to 2023-12-31

IBEW LOCAL 269 WELFARE AND SUPPLEMENTAL, founded in 1998, is a community nonprofit in the Mutual Benefit sector that reported $3.3M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.2M, a strong 36% operating margin.

Mission

TO PROVIDE SUPPLEMENTAL BENEFITS TO PLAN PARTICIPANTS WHOSE EMPLOYMENT UNDER THE TERMS OF A COLLECTIVE BARGANING AGREEMENT REQUIRES CONTRIBUTIONS TO THE FUND FOR THE FOLLOWING BENEFITS SUPPLEMENTAL UNEMPLOYMENT, PERMANENT AND TOTAL DISABILITY, MONTHLY SUPPLEMENTAL HEALTH AND WELFARE, MONTHLY HEALTH BENEFITS, WEEKLY SICK BENEFITS, AND VACATION BENEFITS AS DETERMINED BY THE TRUSTEES.

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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 $3,089,155

Investment Income $251,458

Other Revenue $0

TOTAL REVENUE $3,340,613

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,231

Fundraising Expenses $0

Other Expenses $142,792

TOTAL EXPENSES $2,125,013

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,340,613	$3,061,899	+0.1%
Expenses	$2,125,013	$2,139,393	0.0%
Net Income	$1,215,600	$922,506	+0.3%

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

$1,044,940

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GINO PASQUALONE	TRUSTEE	2.00	Director	$0	$104,068	$336,243
STEPHEN M ALDRICH	TRUSTEE	2.00	Director	$0	$114,200	$376,850
MIKE NIELSEN	TRUSTEE	2.00	Director	$0	$0	$0
TIMOTHY BRYAN JR	TRUSTEE	2.00	Director	$0	$0	$0
JOSEPH KNECHT JR	TRUSTEE	2.00	Director	$0	$0	$0
WAYNE P DEANGELO	TRUSTEE	2.00	Director	$0	$99,700	$331,847

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	$3,340,613	$2,125,013	$10,899,369	$1,215,600
2022	$3,061,899	$2,139,393	$9,209,100	$922,506
2021	$2,404,524	$3,584,785	$9,127,079	$-1,180,261
2020	$2,069,426	$3,865,516	$10,147,620	$-1,796,090
2019	$2,265,701	$3,365,988	$11,582,884	$-1,100,287
2018	$2,216,372	$1,637,819	$12,547,476	$578,553

IBEW LOCAL 269 WELFARE AND SUPPLEMENTAL