TEAMSTERS LOCAL 641 WELFARE FUND (EIN 226220289) - 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

JAMES KILKENNY

Phone

9086874488

Tax Period

2024-03-01 to 2025-02-28

TEAMSTERS LOCAL 641 WELFARE FUND, founded in 1974, is a community nonprofit that reported $5.3M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $6.7M exceeded revenue, resulting in a 25% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO 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 $4,180,767

Investment Income $1,085,343

Other Revenue $65,121

TOTAL REVENUE $5,331,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $222,564

Fundraising Expenses $0

Other Expenses $826,135

TOTAL EXPENSES $6,677,884

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,331,231	$7,339,670	-0.3%
Expenses	$6,677,884	$9,954,688	-0.3%
Net Income	$-1,346,653	$-2,615,018	-0.5%

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

N/A

Employees

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

$183,732

Total Directors

$554,486

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES KILKENNY	TRUSTEE	1.00	Director	$0	$72,120	$211,094
DAVID MAZZELLA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MARCHELLO	TRUSTEE	1.00	Director	$0	$67,389	$182,865
GARY KANE	TRUSTEE	1.00	Director	$0	$63,585	$160,527
DIANE FLORIAN	PLAN MANAGER	35.00	Officer	$67,628	$42,840	$183,732

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	$5,331,231	$6,677,884	$28,421,517	$-1,346,653
2024	$7,339,670	$9,954,688	$29,401,931	$-2,615,018
2023	$11,718,503	$11,285,196	$32,469,041	$433,307
2022	$13,921,254	$13,764,071	$36,462,891	$157,183
2021	$10,801,692	$10,976,952	$38,115,997	$-175,260
2020	$11,292,630	$10,272,663	$35,398,368	$1,019,967
2019	$9,684,306	$7,822,898	$33,547,809	$1,861,408
2018	$10,378,481	$7,110,276	$31,145,383	$3,268,205

TEAMSTERS LOCAL 641 WELFARE FUND