TEAMSTERS LOCAL 623 LEGAL SERVICES… - 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

1982

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

TEAMSTERS LOCAL 623 LEGAL SERVICES FUND, founded in 1982, is a small nonprofit in the Mutual Benefit sector that reported $161K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. The organization ran a surplus of $30K, a strong 18% operating margin.

Mission

THE PLAN WAS ESTABLISHED TO PROVIDE LEGAL SERVICES BENEFITS FOR ELIGIBLE PARTICIPANTS, THEIR SPOUSES AND DEPENDENTS

Program Service Accomplishments

Program 1

Expenses: $120,000 Revenue: $149,388

THE PLAN WAS ESTABLISHED TO PROVIDE LEGAL SERVICES 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $149,388

Investment Income $11,341

Other Revenue $0

TOTAL REVENUE $160,729

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $120,000

Other Expenses $11,143

TOTAL EXPENSES $131,143

Year-over-Year Comparison

	2023	2022	Change
Revenue	$160,729	$179,346	-0.1%
Expenses	$131,143	$130,050	+0.0%
Net Income	$29,586	$49,296	-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

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
CLARENCE BAGBY	UNION TRUSTEE	1.00	Director	$0	$0	$0
CAMERON DONAVAN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ROBERT COWIE	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
RICHARD HOOKER	UNION 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	No data	No data	No data	No data
2023	$160,729	$131,143	$900,497	$29,586
2022	$179,346	$130,050	$854,536	$49,296
2021	$186,294	$120,372	$892,832	$65,922
2020	$195,722	$130,872	$870,353	$64,850
2019	$188,265	$130,272	$785,503	$57,993
2018	$160,570	$130,242	$727,510	$30,328

TEAMSTERS LOCAL 623 LEGAL SERVICES FUND