LOCAL UNION 102 IBEW (EIN 226062794) - 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

1900

Legal Domicile

Principal Officer

BERNARD CORRIGAN

Phone

9738871718

Tax Period

2024-01-01 to 2024-12-31

LOCAL UNION 102 IBEW, founded in 1900, is a community nonprofit that reported $8.5M in total revenue in fiscal year 2024. Expenses of $8.0M left a modest 5% surplus.

Mission

TO ORGANIZE ELECTRICAL WORKERS AND MAINTAIN A UNION HIRING HALL FOR THE BENEFIT OF MEMBERS

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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 $7,911,914

Program Service Revenue $0

Investment Income $636,775

Other Revenue $-93,278

TOTAL REVENUE $8,455,411

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,935,353

Fundraising Expenses $0

Other Expenses $4,086,321

TOTAL EXPENSES $8,021,674

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,455,411	$8,473,650	0.0%
Expenses	$8,021,674	$7,689,097	+0.0%
Net Income	$433,737	$784,553	-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

Employees

Volunteers

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

$1,484,975

Total Directors

$8,391

Key Employees

$1,706,349

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC TSCHERNE	EXEC. BD. CHAIRMAN	0.50	Director	$1,114	$0	$1,114
ANTHONY MARINELLO	EXEC. BD. DIRECTOR	0.50	Director	$1,506	$0	$1,506
BARRY CHECINSKI	EXEC. BD. DIR.	0.50	Director	$1,507	$0	$1,507
MICHAEL D PULSINELLI	EXEC. BD. DIR.	0.50	Director	$1,379	$0	$1,379
HENRY LORA	EXEC. BD. DIR.	0.50	Director	$1,506	$0	$1,506
KAINE KRAWCHUCK	EXEC. BD. DIR.	0.50	Director	$1,379	$0	$1,379
BERNARD CORRIGAN	PRESIDENT	45.00	Officer	$213,648	$124,984	$338,632
MATTHEW OSWALD	VICE PRESIDENT	0.50	Officer	$1,141	$0	$1,141
PATRICK DELLE CAVA	BUSINESS MANAGER	45.00	Officer	$238,475	$139,508	$377,983
DAVID FIORE	TREASURER & ASST.BUS. MGR.	45.00	Officer	$217,451	$127,209	$344,660
MARK ROCHE	BUSINESS AGENT	45.00	Officer	$51,078	$29,880	$80,958
MARK BATTAGLIESE	FINANCIAL SECRETARY	45.00	Officer	$213,621	$124,968	$338,589
JOHN BRENNAN	RECORDING SECRETARY	0.05	Officer	$3,012	$0	$3,012
THOMAS KELLY	BUSINESS AGENT	45.00	Key Emp	$212,136	$124,100	$336,236
MICHAEL SCOTTO	BUSINESS AGENT	45.00	Key Emp	$218,918	$128,067	$346,985
NICK CASTELLO	BUSINESS AGENT	45.00	Key Emp	$214,418	$125,434	$339,852
FRED SISCO	BUSINESS AGENT	45.00	Key Emp	$214,771	$125,640	$340,411
PAUL FIORE	BUSINESS AGENT	45.00	Key Emp	$216,319	$126,546	$342,865

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	$8,455,411	$8,021,674	$25,653,764	$433,737
2023	$8,473,650	$7,689,097	$25,533,665	$784,553
2022	$6,690,121	$7,479,795	$25,019,856	$-789,674
2021	$6,847,399	$7,265,035	$24,128,687	$-417,636
2020	$7,345,083	$6,671,000	$24,527,316	$674,083
2019	$8,315,227	$6,920,365	$23,879,838	$1,394,862
2018	$6,514,005	$6,805,422	$22,444,008	$-291,417

LOCAL UNION 102 IBEW