REFRIGERATION AC AND SERVICE DIV WELFARE FUND - CO IE SHAFFER & CO (EIN 226211042) - 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

1974

Legal Domicile

Principal Officer

JONATHAN D LEVINE

Phone

6097181323

Tax Period

2024-03-01 to 2025-02-28

REFRIGERATION AC AND SERVICE DIV WELFARE FUND - CO IE SHAFFER & CO, founded in 1974, is a mid-sized nonprofit that reported $55.7M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

PROVIDE GROUP HEALTH BENEFITS FOR 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 $54,577,865

Investment Income $1,133,389

Other Revenue $0

TOTAL REVENUE $55,711,254

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,835,827

Other Expenses $1,153,780

TOTAL EXPENSES $54,989,607

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,711,254	$50,351,069	+0.1%
Expenses	$54,989,607	$45,713,709	+0.2%
Net Income	$721,647	$4,637,360	-0.8%

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

103

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MANUEL A SANTOS	Trustee	1.00	Director	$0	$0	$0
FRANK N HUGHES	Trustee	1.00	Director	$0	$0	$0
DEAN FEASEL	Trustee	1.00	Director	$0	$0	$0
ERIC T AUSTIN	Trustee	1.00	Director	$0	$0	$0
DAVID KIRGAN	Trustee	1.00	Director	$0	$0	$0
MICHAEL MOLLO	Trustee	1.00	Director	$0	$0	$0
PHILLIP PETILLO	Trustee	1.00	Director	$0	$0	$0
EDWARD F DRISCOLL	Trustee	1.00	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	$55,711,254	$54,989,607	$38,170,006	$721,647
2024	$50,351,069	$45,713,709	$35,630,413	$4,637,360
2023	$43,829,641	$45,514,983	$31,048,013	$-1,685,342
2022	$39,998,701	$39,788,854	$34,319,636	$209,847
2021	$36,401,799	$33,564,762	$34,130,098	$2,837,037
2020	$38,502,340	$33,387,731	$30,962,210	$5,114,609
2019	$34,746,889	$33,123,105	$25,418,298	$1,623,784
2018	$32,115,989	$32,099,258	$23,628,111	$16,731

REFRIGERATION AC AND SERVICE DIV WELFARE FUND - CO IE SHAFFER & CO