LOCAL 522 WELFARE FUND OF NEW YORK AND NEW JERSEY (EIN 226062063) - 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

1954

Legal Domicile

Principal Officer

JAMES KANE

Phone

7188592326

Tax Period

2024-08-01 to 2025-07-31

LOCAL 522 WELFARE FUND OF NEW YORK AND NEW JERSEY, founded in 1954, is a mid-sized nonprofit that reported $25.5M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $29.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR 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 $23,869,970

Investment Income $1,597,824

Other Revenue $0

TOTAL REVENUE $25,467,794

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $900,327

TOTAL EXPENSES $29,108,183

Year-over-Year Comparison

	2024	2023	Change
Revenue	$25,467,794	$28,895,038	-0.1%
Expenses	$29,108,183	$30,833,394	-0.1%
Net Income	$-3,640,389	$-1,938,356	+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

Total Directors

$170,660

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES KANE	TRUSTEE	2.00	Director	$0	$50,060	$166,660
DANIEL KANE SR	TRUSTEE	2.00	Director	$0	$0	$0
JOHN WAGNER	TRUSTEE	2.00	Director	$0	$0	$0
DENNIS MCGUIRE	TRUSTEE	2.00	Director	$2,000	$0	$4,000

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	$25,467,794	$29,108,183	$6,107,164	$-3,640,389
2024	No data	No data	No data	No data
2023	$29,661,994	$32,981,642	$12,924,279	$-3,319,648
2022	$26,199,989	$30,613,148	$17,424,618	$-4,413,159
2021	$25,503,448	$28,254,043	$22,734,364	$-2,750,595
2020	$22,337,983	$26,921,041	$22,550,744	$-4,583,058
2019	$19,541,277	$18,899,240	$24,739,604	$642,037
2018	$17,638,429	$19,931,564	$23,467,016	$-2,293,135

LOCAL 522 WELFARE FUND OF NEW YORK AND NEW JERSEY