INTERNATIONAL BRTHRHD OF TEAMSTERS LOCAL UNION 623 (EIN 236003359) - 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

1930

Legal Domicile

Principal Officer

RICHARD HOOKER

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL BRTHRHD OF TEAMSTERS LOCAL UNION 623, founded in 1930, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $2.8M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO ORGANIZE WORKERS AND TO SECURE IMPROVED WAGES, HOURS, WORKING CONDITIONS AND OTHER ECONOMIC ADVANTAGES THROUGH ORGANIZATION, NEGOTIATIONS AND COLLECTIVE BARGAINING

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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 $2,349,155

Investment Income $20,263

Other Revenue $19,288

TOTAL REVENUE $2,388,706

Expense Breakdown

Grants Paid $23,628

Salaries & Benefits $1,853,340

Fundraising Expenses $0

Other Expenses $943,072

TOTAL EXPENSES $2,820,040

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,388,706	$2,747,477	-0.1%
Expenses	$2,820,040	$3,077,918	-0.1%
Net Income	$-431,334	$-330,441	+0.3%

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

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

$1,439,431

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD HOOKER	SECRETARY TREASURER	55.00	Officer	$152,914	$93,333	$246,247
CLARENCE E BAGBY	PRESIDENT	55.00	Officer	$151,189	$92,604	$243,793
NORMAN COWLAY	RECORDING SECRETARY	55.00	Officer	$150,092	$92,604	$242,696
JAMES ROMEO	TRUSTEE	55.00	Officer	$148,022	$92,604	$240,626
RONALD CAMAC JR	TRUSTEE	55.00	Officer	$141,899	$92,604	$234,503
THOMAS CALLAN III	VICE PRESIDENT	55.00	Officer	$138,962	$92,604	$231,566

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	$2,388,706	$2,820,040	$2,847,172	$-431,334
2023	$2,747,477	$3,077,918	$3,278,254	$-330,441
2022	$3,078,895	$2,869,305	$3,609,322	$209,590
2021	$3,118,029	$2,651,880	$3,399,041	$466,149
2020	$3,046,807	$2,446,519	$2,932,807	$600,288
2019	$2,543,272	$2,225,050	$2,332,519	$318,222
2018	$2,316,451	$2,000,732	$2,014,295	$315,719

INTERNATIONAL BRTHRHD OF TEAMSTERS LOCAL UNION 623