GREATER PENNSYLVANIA CARPENTERS MEDICAL PLAN (EIN 237007718) - 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

1964

Legal Domicile

Principal Officer

WILLIAM SPROULE

Phone

4129225330

Tax Period

2023-01-01 to 2023-12-31

GREATER PENNSYLVANIA CARPENTERS MEDICAL PLAN, founded in 1964, is a major nonprofit that reported $139.7M in total revenue in fiscal year 2023. Revenue surged 221% from the prior year, signaling strong growth momentum. The organization ran a surplus of $39.1M, a strong 28% operating margin.

Mission

TO PROVIDE MEDICAL BENEFITS TO MEMBERS OF A TRADE UNION, THEIR SPOUSES AND THEIR DEPENDENTS.

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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 $95,831,684

Investment Income $11,792,574

Other Revenue $32,040,164

TOTAL REVENUE $139,664,422

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $100,600,545

Other Expenses $2,635,111

TOTAL EXPENSES $100,600,545

Year-over-Year Comparison

	2023	2022	Change
Revenue	$139,664,422	$43,537,187	+2.2%
Expenses	$100,600,545	$97,211,044	+0.0%
Net Income	$39,063,877	$-53,673,857	-1.7%

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

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
RICHARD F FOLEY	LABOR TRUSTEE	0.50	Director	$0	$0	$0
DONALD J MADEJA	LABOR TRUSTEE	0.50	Director	$0	$0	$0
KENNETH W UMBEL	LABOR TRUSTEE	0.50	Director	$0	$0	$0
SEAN P FOLEY	LABOR TRUSTEE	0.50	Director	$0	$0	$0
JOEL L NIECGORSKI	LABOR TRUSTEE	0.50	Director	$0	$0	$0
WADE J BAUMGARTNER	LABOR TRUSTEE	0.50	Director	$0	$0	$0
PAUL A SIMPSON III	LABOR TRUSTEE	0.50	Director	$0	$0	$0
ROBERT BUECHEL	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
FREDERICK EPISCOPO	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
ROBERT M CANE II	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
JASON MALATAK	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
JOHN MORRIS	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
ROBERT F LEAHEY	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL PENROD	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
WILLIAM SPROULE	CHAIRMAN - LABOR TRUSTEE	0.50	Officer	$0	$0	$0
DAVID D DAQUELENTE	CO-CHAIRMAN - MANAGEMENT T	0.50	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
2024	No data	No data	No data	No data
2023	$139,664,422	$100,600,545	$397,391,244	$39,063,877
2022	$43,466,907	$98,486,273	$360,129,275	$-55,019,366
2022	$43,537,187	$97,211,044	$357,276,655	$-53,673,857
2021	$115,412,264	$74,511,472	$403,288,662	$40,900,792
2021	$115,412,264	$74,511,472	$403,288,662	$40,900,792
2020	$96,739,113	$72,589,991	$321,818,536	$24,149,122
2019	$122,243,592	$65,079,826	$295,498,666	$57,163,766
2018	$65,568,274	$65,242,044	$238,830,386	$326,230

GREATER PENNSYLVANIA CARPENTERS MEDICAL PLAN