ASBESTOS WORKERS LOCAL NO 32 - EDU… - Form 990 Financial Data

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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

1987

Legal Domicile

Principal Officer

JOHN DWYER

Phone

8567932501

Tax Period

2023-01-01 to 2023-12-31

ASBESTOS WORKERS LOCAL NO 32 - EDUCATION FUND, founded in 1987, is a small nonprofit that reported $480K in total revenue in fiscal year 2023. The organization ran a surplus of $78K, a strong 16% operating margin.

Mission

TO PROVIDE TRAINING THROUGH THE EDUCATION PROGRAM TO QUALIFIED MEMBERS.

Program Service Accomplishments

Program 1

THE HFIAW LOCAL NO. 32 EDUCATION FUND PROVIDES INSTRUCTION AND TRAINING THROUGH AN EDUCATION PROGRAM FOR QUALIFIED PERSONS PRIOR TO EMPLOYMENT AS AN APPRENTICE IN THE ASBESTOS INDUSTRY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $454,688

Investment Income $16,871

Other Revenue $8,363

TOTAL REVENUE $479,922

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,766

Fundraising Expenses $0

Other Expenses $162,053

TOTAL EXPENSES $401,819

Year-over-Year Comparison

	2023	2022	Change
Revenue	$479,922	$471,783	+0.0%
Expenses	$401,819	$419,763	0.0%
Net Income	$78,103	$52,020	+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

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

Total Directors

$793,700

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN DWYER	UNION TRUSTEE	1.00	Director	$0	$124,294	$287,771
PAUL LEGRAND	FORMER UNION TRUSTEE	1.00	Director	$0	$0	$0
JERAMIAH FARMER	UNION TRUSTEE	1.00	Director	$0	$122,992	$280,022
BRIAN PENT	UNION TRUSTEE	1.00	Director	$0	$3,607	$8,649
JOHN MAZOR	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
RICK BAPTIST	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY CHAPLIN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
DERECK VERGARI	APPRENTICE COORDINATOR	40.00	Director	$142,134	$75,124	$217,258
KURT NALE	EMPLOYER 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	No data	No data	No data	No data
2023	$479,922	$401,819	$923,690	$78,103
2022	$471,783	$419,763	$842,986	$52,020
2021	$460,499	$389,997	$824,587	$70,502
2020	$478,291	$332,535	$731,369	$145,756
2019	$468,160	$350,211	$575,751	$117,949
2018	$506,007	$302,280	$468,017	$203,727

ASBESTOS WORKERS LOCAL NO 32 - EDUCATION FUND