FINISHING TRADES INSTITUTE OF THE MID-ATLANTIC REGION (EIN 236416214) - 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

1968

Legal Domicile

Principal Officer

BERNIE SNYDER

Phone

2155010130

Tax Period

2024-01-01 to 2024-12-31

FINISHING TRADES INSTITUTE OF THE MID-ATLANTIC REGION, founded in 1968, is a mid-sized nonprofit that reported $10.1M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.2M, a strong 22% operating margin.

Mission

THE FINISHING TRADES INSTITUTE OF THE MID-ATLANTIC REGION PROVIDES NECESSARY SKILLS TO INDIVIDUALS FOR CAREER ADVANCEMENT TO JOURNEYPERSON STATUS AND CONTINUED EDUCATION IN THE INTERNATIONAL UNION OF PAINTERS AND ALLIED TRADES CONSTRUCTION INDUSTRIES. THIS COMMITMENT TO APPRENTICE AND JOURNEYPERSON EDUCATION AND TRAINING IS ESSENTIAL TO THE SUCCESS OF OUR VARIOUS SKILL TRADE UNIONS AND OUR CONTRACTOR ASSOCIATIONS.

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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 $1,336,311

Program Service Revenue $7,800,462

Investment Income $797,833

Other Revenue $162,205

TOTAL REVENUE $10,096,811

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,219,135

Fundraising Expenses $0

Program Expenses $6,719,433

Other Expenses $2,648,511

TOTAL EXPENSES $7,867,646

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,096,811	$8,516,219	+0.2%
Expenses	$7,867,646	$7,056,255	+0.1%
Net Income	$2,229,165	$1,459,964	+0.5%

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

$3,340

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE LAUGHLIN	UNION TRUSTEE	2.00	Director	$3,340	$0	$3,340
PAUL TSOUROUS	EMPLOYER TRUSTEE/CO-CHAIRMAN	2.00	Director	$0	$0	$0
BERNIE SNYDER	UNION TRUSTEE/CO-CHAIRMAN	2.00	Director	$0	$0	$0
FRAN MCLAUGHLIN	UNION TRUSTEE/CO-CHAIRMAN (P)	2.00	Director	$0	$0	$0
AJ CASPARRO	UNION TRUSTEE	2.00	Director	$0	$0	$0
BRIAN CAVANAUGH	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOE CLABBERS	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
BERNARD COOKE	UNION TRUSTEE	2.00	Director	$0	$0	$0
MATT CORTEZ	UNION TRUSTEE	2.00	Director	$0	$0	$0
ANDRE DOMINGOS	UNION TRUSTEE	2.00	Director	$0	$0	$0
ED FLANAGAN	UNION TRUSTEE	2.00	Director	$0	$0	$0
JOE FLYNN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JIM KEARNS	UNION TRUSTEE	2.00	Director	$0	$0	$0
BILL KRESZ	UNION TRUSTEE	2.00	Director	$0	$0	$0
TOM KRUG	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JESSICA PEIFFER	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
KEVIN SCHLOERB	EMPLOYER TRUSTEE (P)	2.00	Director	$0	$0	$0
ANDY SINGH	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
MIKE SONNIE	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
TOM SULKOWSKI	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
MIKE VALCO	UNION TRUSTEE	2.00	Director	$0	$0	$0
JOE WEISS	UNION TRUSTEE	2.00	Director	$0	$0	$0
ROBERT WOOD	UNION TRUSTEE	2.00	Director	$0	$0	$0
ED YERUSALIM	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
DAVID ZACK	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL ZACK	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
ERIN HOFMANN	DIRECTOR OF EDUCATION	40.00	Highest	$166,424	$141,345	$307,769
NUNO PORTELA	GLAZIER INSTRUCTOR	40.00	Highest	$161,570	$110,757	$272,327
JARROTT BURGESS	GLAZIER INSTRUCTOR	40.00	Highest	$157,555	$101,897	$259,452
BRANDON CHIESA	GLAZIER INSTRUCTOR	40.00	Highest	$157,555	$101,897	$259,452
TIAGO PRATA	GLAZIER INSTRUCTOR	40.00	Highest	$157,555	$101,897	$259,452

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	$10,096,811	$7,867,646	$17,378,525	$2,229,165
2023	$8,516,219	$7,056,255	$15,876,671	$1,459,964
2022	$5,233,981	$5,274,047	$12,373,178	$-40,066
2021	$4,123,351	$4,066,891	$9,000,258	$56,460
2020	$4,420,904	$3,737,513	$9,017,030	$683,391
2019	$4,652,985	$3,877,973	$8,330,826	$775,012
2018	$4,988,904	$4,058,182	$7,621,478	$930,722

FINISHING TRADES INSTITUTE OF THE MID-ATLANTIC REGION