IBEW LOCAL 102 WELFARE FUND

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Principal Officer

BERNARD CORRIGAN

Phone

9738871718

Tax Period

2024-01-01 to 2024-12-31

IBEW LOCAL 102 WELFARE FUND, founded in 1991, is a mid-sized nonprofit that reported $72.6M in total revenue in fiscal year 2024.

Mission

PROVIDE GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.

Program Service Accomplishments

Program 1

Expenses: $70,571,745 Revenue: $68,029,771

PROVIDED GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR QUALIFIED DEPENDENTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $68,029,771

Investment Income $3,312,042

Other Revenue $1,273,025

TOTAL REVENUE $72,614,838

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $70,571,745

Other Expenses $1,703,207

TOTAL EXPENSES $72,274,952

Year-over-Year Comparison

	2024	2023	Change
Revenue	$72,614,838	$74,151,516	0.0%
Expenses	$72,274,952	$70,546,327	+0.0%
Net Income	$339,886	$3,605,189	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BERNARD CORRIGAN	Trustee	1.00	Director	$0	$0	$0
JAMES ESTABROOK	Trustee	1.00	Director	$0	$0	$0
DAVID FIORE	Trustee	1.00	Director	$0	$0	$0
PETER CHECHE	Trustee	1.00	Director	$0	$0	$0
ROBERT WILLIAMSON III	Trustee	1.00	Director	$0	$0	$0
PAUL FIORE	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
2024	$72,614,838	$72,274,952	$117,021,381	$339,886
2023	$74,151,516	$70,546,327	$113,392,233	$3,605,189
2022	$51,726,015	$64,905,471	$108,229,917	$-13,179,456
2021	$58,803,578	$65,136,197	$122,340,303	$-6,332,619
2020	$57,263,256	$53,890,662	$127,898,763	$3,372,594
2019	$64,153,736	$57,530,043	$125,557,670	$6,623,693
2018	$48,149,632	$54,905,166	$120,812,569	$-6,755,534