IBEW LOCAL 508 HEALTH PLAN (EIN 237030261) - 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

1969

Legal Domicile

Principal Officer

ALTON MOSLEY

Phone

6787050560

Tax Period

2024-07-01 to 2025-06-30

IBEW LOCAL 508 HEALTH PLAN, founded in 1969, is a community nonprofit that reported $7.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.2M, a strong 31% operating margin.

Mission

TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS

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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 $6,531,043

Investment Income $535,275

Other Revenue $0

TOTAL REVENUE $7,066,318

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $143,822

TOTAL EXPENSES $4,886,250

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,066,318	$6,466,846	+0.1%
Expenses	$4,886,250	$4,742,730	+0.0%
Net Income	$2,180,068	$1,724,116	+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

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

$213,720

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALTON MOSLEY	UNION TRUSTEE	2.00	Director	$0	$0	$111,963
JEFF KNOWLTON	UNION TRUSTEE	2.00	Director	$0	$0	$83,850
RAYMOND T HARRISON	UNION TRUSTEE	2.00	Director	$0	$0	$17,907
BRAD BUTLER	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
HERSCHEL HIRES	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
WAYNE HUGGINS	EMPLOYER TRUSTEE	2.00	Director	$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	$7,066,318	$4,886,250	$16,914,357	$2,180,068
2024	$6,466,846	$4,742,730	$14,724,681	$1,724,116
2023	$6,232,078	$4,950,196	$13,090,629	$1,281,882
2022	$6,292,985	$4,697,020	$11,757,519	$1,595,965
2021	$5,974,429	$3,819,354	$10,140,155	$2,155,075
2020	$6,395,154	$4,704,157	$7,986,584	$1,690,997
2019	$5,463,614	$2,846,229	$6,282,043	$2,617,385
2018	$4,448,241	$3,917,391	$3,669,445	$530,850

IBEW LOCAL 508 HEALTH PLAN