LOCAL 274 HEALTH AND WELFARE FUND

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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

1950

Legal Domicile

Principal Officer

RICHARD MINTER

Phone

8566162090

Tax Period

2024-01-01 to 2024-12-31

LOCAL 274 HEALTH AND WELFARE FUND, founded in 1950, is a community nonprofit that reported $9.8M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $8.8M left a modest 10% surplus.

Mission

THE FUND PROVIDES BENEFITS, INCLUDING MEDICAL, SURGICAL, HOSPITALIZATION, DEATH, DISABILITY, DENTAL, PRESCRIPTION, VISION AND ORTHOTIC BENEFITS TO ELIGIBLE MEMBERS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES BENEFITS, INCLUDING MEDICAL, SURGICAL, HOSPITALIZATION, DEATH, DISABILITY, DENTAL, PRESCRIPTION, VISION AND ORTHOTIC BENEFITS TO ELIGIBLE 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 $0

Program Service Revenue $9,054,692

Investment Income $727,625

Other Revenue $0

TOTAL REVENUE $9,782,317

Expense Breakdown

Grants Paid $0

Salaries & Benefits $166,250

Fundraising Expenses $0

Other Expenses $847,983

TOTAL EXPENSES $8,840,562

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,782,317	$8,313,257	+0.2%
Expenses	$8,840,562	$6,681,883	+0.3%
Net Income	$941,755	$1,631,374	-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

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

$83,467

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GINA WILSON	UNION TRUSTEE	2.00	Director	$0	$18,417	$83,467
LYNNE P FOX	UNION TRUSTEE	2.00	Director	$0	$0	$0
RICHARD MINTER	UNION TRUSTEE	2.00	Director	$0	$0	$0
JO ANN BONGART	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
HOWARD FLAXMAN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
RONALD C GILBERT	EMPLOYER TRUSTEE	2.00	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	$9,782,317	$8,840,562	$19,096,766	$941,755
2023	$8,313,257	$6,681,883	$17,644,880	$1,631,374
2022	$6,858,357	$6,265,186	$12,329,873	$593,171
2021	$5,581,917	$6,516,566	$12,969,424	$-934,649
2020	$6,482,401	$10,544,127	$13,719,121	$-4,061,726
2019	$9,898,492	$10,875,426	$17,945,009	$-976,934
2018	$9,538,205	$9,715,810	$17,507,586	$-177,605