EASTERN ATLANTIC STATES CARPENTERS HEALTH FUND (EIN 226032181) - 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

1953

Legal Domicile

Principal Officer

PETER TONIA

Phone

2155680430

Tax Period

2024-01-01 to 2024-12-31

EASTERN ATLANTIC STATES CARPENTERS HEALTH FUND, founded in 1953, is a major nonprofit that reported $332.9M in total revenue in fiscal year 2024. Net assets of $966.7M represent 35 months of operating reserves.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH AND OTHER BENEFITS TO 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $299,775,455

Investment Income $33,147,761

Other Revenue $612

TOTAL REVENUE $332,923,828

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $7,166,248

TOTAL EXPENSES $331,137,020

Year-over-Year Comparison

	2024	2023	Change
Revenue	$332,923,828	$327,943,739	+0.0%
Expenses	$331,137,020	$293,431,839	+0.1%
Net Income	$1,786,808	$34,511,900	-0.9%

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

$642,220

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK KOCSIS	CO-CHAIRMAN/EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOE LOCKLEY	LABOR TRUSTEE	1.00	Director	$0	$0	$0
JOHN DELSORDI	LABOR TRUSTEE	1.00	Director	$0	$0	$0
JOHN ROBINSON	LABOR TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MORROW	LABOR TRUSTEE	1.00	Director	$0	$0	$0
OLAF OLSOEN	LABOR TRUSTEE	1.00	Director	$0	$0	$0
RAY BRUGUERAS	LABOR TRUSTEE	1.00	Director	$0	$0	$0
JAMIE V SERITELLA	LABOR TRUSTEE	1.00	Director	$0	$0	$0
ROBERT TARBY	LABOR TRUSTEE	1.00	Director	$0	$0	$0
PHILIP RADOMSKI	VICE CO-CHAIRMAN/EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY ABRANTES	VICE CO-CHAIRMAN/LABOR TRUSTEE	1.00	Director	$0	$0	$0
THOMAS IVESON	LABOR TRUSTEE	1.00	Director	$0	$0	$0
JAMES HOCKER	LABOR TRUSTEE	1.00	Director	$0	$0	$0
ANDREW BULAKOWSKI	LABOR TRUSTEE	1.00	Director	$0	$0	$0
BRUCE GARGANIO	LABOR TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM SPROULE	CO-CHAIRMAN/LABOR TRUSTEE	1.00	Director	$0	$0	$0
ADAM SCHMIT	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
BENJAMIN CONNORS	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ERIC JENSEN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
GLENN GARLATTI - THRU 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOE CLEARKIN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH DONOFRIO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MARK HALL	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
CRAIG MELOGRANO - EFF 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
PHILIP PRISCO - EFF 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
SONIA DI VALERIO - EFF 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT POLISANO	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
FRANK LUTTER - THRU 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JAMES DAVIS - THRU 124	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
SEAN HEALY	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
PETER TONIA	EXECUTIVE FUNDS DIRECTOR	17.00	Officer	$0	$299,133	$642,220
JOSEPH OBUCHOWICZ	EMPLOYEE	17.00	Highest	$0	$214,405	$470,954
IAN RUEGG	EMPLOYEE	18.00	Highest	$0	$128,377	$365,903
RYAN SICA	EMPLOYEE	16.00	Highest	$0	$137,193	$334,559
MICHAEL WAGNER	EMPLOYEE	34.00	Highest	$0	$135,684	$293,033
JARET GRANN	EMPLOYEE	16.00	Highest	$0	$110,253	$258,400

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	$332,923,828	$331,137,020	$996,987,767	$1,786,808
2023	$327,943,739	$293,431,839	$978,028,106	$34,511,900
2022	$175,934,959	$168,353,600	$932,359,439	$7,581,359
2021	$194,057,897	$145,449,300	$446,105,883	$48,608,597
2020	$305,464,123	$244,576,744	$479,037,858	$60,887,379
2019	$346,765,418	$275,494,158	$818,326,983	$71,271,260
2018	$318,125,668	$269,381,033	$706,866,719	$48,744,635

EASTERN ATLANTIC STATES CARPENTERS HEALTH FUND