UNITED STEELWORKERS LOCAL 286 LEGAL SERVICES PLAN (EIN 232194292) - 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

1981

Legal Domicile

Principal Officer

CARLO SIMONE III

Phone

2158299212

Tax Period

2024-01-01 to 2024-12-31

UNITED STEELWORKERS LOCAL 286 LEGAL SERVICES PLAN, founded in 1981, is a small nonprofit that reported $713K in total revenue in fiscal year 2024. Revenue surged 1982% from the prior year, signaling strong growth momentum. Expenses of $644K left a modest 10% surplus.

Mission

A V.E.B.A. PLAN THAT PROVIDES LEGAL SERVICES BENEFITS AND TAX PREPARATION BENEFITS FOR ELIGIBLE PARTICIPANTS, THEIR SPOUSES AND DEPENDENTS.

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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 $689,659

Investment Income $22,998

Other Revenue $0

TOTAL REVENUE $712,657

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $384,935

TOTAL EXPENSES $643,996

Year-over-Year Comparison

	2024	2023	Change
Revenue	$712,657	$34,235	+19.8%
Expenses	$643,996	$528,659	+0.2%
Net Income	$68,661	$-494,424	-1.1%

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

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

$548,577

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARIO TATOM	UNION TRUSTEE	1.00	Director	$0	$47,779	$113,165
CARLO SIMONE III	UNION TRUSTEE/MANAGER	10.00	Director	$0	$84,779	$435,412
KENNETH GORDON	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JIMMIE NOLAN	UNION TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL FERMAN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
STU FINKLE	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	$712,657	$643,996	$976,520	$68,661
2023	$34,235	$528,659	$818,021	$-494,424
2022	$591,469	$558,118	$1,321,904	$33,351
2021	$558,269	$363,897	$1,277,911	$194,372
2020	$534,552	$356,773	$1,079,205	$177,779
2019	$585,443	$356,759	$900,230	$228,684
2018	$561,729	$382,663	$665,517	$179,066

UNITED STEELWORKERS LOCAL 286 LEGAL SERVICES PLAN