GARAGE & PARKING LOT EMPLOYEES WEL… - 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

1961

Legal Domicile

Principal Officer

ROBERT TAYLOR

Phone

2155924119

Tax Period

2024-09-01 to 2025-08-31

GARAGE & PARKING LOT EMPLOYEES WELFARE FUND LOCAL 700, founded in 1961, is a micro nonprofit that reported $47K in total revenue in fiscal year 2024. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $132K exceeded revenue, resulting in a 180% operating deficit.

Mission

INSURANCE PROVIDER OF GROUP HEALTH BENEFITS, SHORT TERM DISABILITY, DEATH BENEFITS AND LIFE INSURANCE COVERING FULL-TIME MEMBERS OF LOCAL 700.

Program Service Accomplishments

Program 1

INSURANCE PROVIDER OF GROUP HEALTH BENEFITS, SHORT TERM DISABILITY, DEATH BENEFITS AND LIFE INSURANCE COVERING FULL-TIME MEMBERS OF LOCAL 700.

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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 $44,866

Investment Income $2,315

Other Revenue $0

TOTAL REVENUE $47,181

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $95,824

TOTAL EXPENSES $131,910

Year-over-Year Comparison

	2024	2023	Change
Revenue	$47,181	$155,279	-0.7%
Expenses	$131,910	$101,926	+0.3%
Net Income	$-84,729	$53,353	-2.6%

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
WILLIE BROWN	UNION TRUSTEE	1.00	Officer	$0	$0	$0
CASSANDRA GILBERT	UNION TRUSTEE	1.00	Officer	$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
2025	$47,181	$131,910	No data	$-84,729
2024	$155,279	$101,926	$426,694	$53,353
2023	$155,709	$93,602	$373,341	$62,107
2022	$110,736	$115,205	$302,567	$-4,469
2021	$158,418	$181,421	$335,126	$-23,003
2020	$212,353	$317,268	$358,129	$-104,915
2019	$374,822	$441,679	$461,541	$-66,857

GARAGE & PARKING LOT EMPLOYEES WELFARE FUND LOCAL 700