IBEW LOCAL # 98 SOUND AND COMMUNICATION WORKERS HEALTH AND WELFARE PLAN (EIN 232959495) - 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

1998

Legal Domicile

Principal Officer

JAMES FOY

Phone

2155996436

Tax Period

2023-01-01 to 2023-12-31

IBEW LOCAL # 98 SOUND AND COMMUNICATION WORKERS HEALTH AND WELFARE PLAN, founded in 1998, is a mid-sized nonprofit in the Employment sector that reported $12.4M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $11.3M left a modest 9% surplus.

Mission

THE FUND PROVIDES CERTAIN HEALTH INSURANCE PREMIUMS, LIFE, AD & D, VISION, DENTAL, PRESCRIPTION DRUG, AND HEALTH BENEFIT CLAIM PAYMENTS TO ELIGIBLE MEMBERS OF THE IBEW LOCAL UNION 98.

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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 $11,090,918

Investment Income $1,325,257

Other Revenue $0

TOTAL REVENUE $12,416,175

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $335,058

TOTAL EXPENSES $11,338,083

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,416,175	$10,859,369	+0.1%
Expenses	$11,338,083	$11,149,086	+0.0%
Net Income	$1,078,092	$-289,717	-4.7%

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

$938,031

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL MASCULLI	UNION TRUSTEE (P)	1.00	Director	$0	$0	$600
MICHAEL GITLIN	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
KENNETH MACDOUGALL	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
BRIAN BURROWS	UNION TRUSTEE (P)	1.00	Director	$0	$43,166	$114,553
NATALIE LINDER	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL KANE	UNION TRUSTEE	1.00	Director	$0	$0	$0
JAMES FOY	UNION TRUSTEE	1.00	Director	$0	$136,561	$359,546
MARK LYNCH	UNION TRUSTEE	1.00	Director	$0	$175,413	$463,332
JEFF KNUTE	UNION 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	$12,416,175	$11,338,083	$36,991,650	$1,078,092
2022	$10,859,369	$11,149,086	$34,847,077	$-289,717
2021	$10,186,708	$10,501,973	$38,475,408	$-315,265
2020	$10,335,897	$9,836,995	$36,664,767	$498,902
2019	$12,241,677	$10,041,837	$35,486,135	$2,199,840
2018	$12,023,800	$10,046,651	$32,290,538	$1,977,149

IBEW LOCAL # 98 SOUND AND COMMUNICATION WORKERS HEALTH AND WELFARE PLAN