THE PRUDENTIAL WELFARE BENEFITS TRUST FOR UNION EMPLOYEES (EIN 233035701) - 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

2001

Legal Domicile

Principal Officer

PRUDENTIAL TRUST CO

Phone

9738028664

Tax Period

2023-01-01 to 2023-12-31

THE PRUDENTIAL WELFARE BENEFITS TRUST FOR UNION EMPLOYEES, founded in 2001, is a small nonprofit in the Mutual Benefit sector that reported $216K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $29.2M exceeded revenue, resulting in a 13426% operating deficit.

Mission

THE PRUDENTIAL WELFARE BENEFITS TRUST FOR UNION EMPLOYEES IS INTENDED TO FUND MEDICAL, DENTAL, DISABILITY, AND OTHER WELFARE BENEFITS PAYABLE TO PARTICIP. AND THEIR DEP. IN THE PRUDENTIAL RETIREE WELFARE BENEFIT PLAN.

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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 $0

Investment Income $215,853

Other Revenue $0

TOTAL REVENUE $215,853

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $18,340

TOTAL EXPENSES $29,196,214

Year-over-Year Comparison

	2023	2022	Change
Revenue	$215,853	$279,226	-0.2%
Expenses	$29,196,214	$29,240,967	0.0%
Net Income	$-28,980,361	$-28,961,741	+0.0%

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

N/A

Employees

N/A

Volunteers

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
GARY NEUBECK	MEMBER OF INV. OVERSIGHT C	0.50	Director	$0	$0	$0
SARA BONESTEEL	MEMBER OF INV. OVERSIGHT C	0.50	Director	$0	$0	$0
KATE TEKKER	MEMBER OF INV. OVERSIGHT C	0.50	Director	$0	$0	$0
N/A	TRUSTEE	0.50		$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	$215,853	$29,196,214	$66,393,927	$-28,980,361
2022	$279,226	$29,240,967	$83,203,272	$-28,961,741
2021	$19,427,024	$25,792,124	$136,126,151	$-6,365,100
2020	$55,380,140	$25,654,865	$142,957,515	$29,725,275
2019	$14,116,669	$29,738,884	$156,369,768	$-15,622,215

THE PRUDENTIAL WELFARE BENEFITS TRUST FOR UNION EMPLOYEES