IRON WORKERS LOCAL UNION 401 SUPPLEMENTAL WELFARE FUND (EIN 223867031) - 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

2002

Legal Domicile

Principal Officer

Kevin Boyle

Phone

2156763000

Tax Period

2024-07-01 to 2025-06-30

IRON WORKERS LOCAL UNION 401 SUPPLEMENTAL WELFARE FUND, founded in 2002, is a community nonprofit in the Mutual Benefit sector that reported $1.4M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Net assets of $3.5M represent 30 months of operating reserves.

Mission

Financial protection for participants and dependents.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,253,331

Investment Income $137,740

Other Revenue $0

TOTAL REVENUE $1,391,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $86,221

TOTAL EXPENSES $1,428,730

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,391,071	$1,518,327	-0.1%
Expenses	$1,428,730	$1,231,177	+0.2%
Net Income	$-37,659	$287,150	-1.1%

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

$910,780

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kevin Boyle	Union Trustee	5.00	Director	$0	$131,986	$313,524
Henry Berk	Union Trustee	5.00	Director	$0	$131,986	$299,878
Susan Dachowski	Employer Trustee	5.00	Director	$0	$0	$0
Jamal Coles	Union Trustee	5.00	Director	$0	$131,986	$297,378
Patricia Ciervo	Employer Trustee	5.00	Director	$0	$0	$0
Thomas Lindstrom	Employer Trustee	5.00	Director	$0	$0	$0

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	$1,391,071	$1,428,730	$3,505,161	$-37,659
2024	$1,518,327	$1,231,177	$3,527,857	$287,150
2023	$822,240	$1,196,322	$3,225,726	$-374,082
2022	$1,340,442	$1,159,108	$3,598,551	$181,334
2021	$1,390,765	$1,278,532	$3,474,756	$112,233
2020	$1,531,037	$1,256,725	$3,369,702	$274,312
2019	$1,826,062	$1,193,582	$3,086,658	$632,480
2018	$1,946,983	$1,213,281	$2,454,084	$733,702

IRON WORKERS LOCAL UNION 401 SUPPLEMENTAL WELFARE FUND