Iron Workers Western Oklahoma Area… - 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

1970

Legal Domicile

Principal Officer

Lovis Moomey

Phone

4056326154

Tax Period

2023-01-01 to 2023-12-31

Iron Workers Western Oklahoma Area Joint Apprenticeship Committee, founded in 1970, is a small nonprofit that reported $195K in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $261K exceeded revenue, resulting in a 34% operating deficit.

Mission

Local 48's apprentice program allows their students to receive the most up to date training available in every aspect of the ironworking trade. Journeyman upgrade classes are also available.

Program Service Accomplishments

Program 1

Local 48's apprentice program allows their students to receive the most up to date training available in every aspect of the ironworking trade. Journeyman upgrade classes are also available.

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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 $154,975

Investment Income $5,503

Other Revenue $34,093

TOTAL REVENUE $194,571

Expense Breakdown

Grants Paid $0

Salaries & Benefits $202,406

Fundraising Expenses $0

Other Expenses $58,421

TOTAL EXPENSES $260,827

Year-over-Year Comparison

	2023	2022	Change
Revenue	$194,571	$241,715	-0.2%
Expenses	$260,827	$254,473	+0.0%
Net Income	$-66,256	$-12,758	+4.2%

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

Total Directors

$217,386

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lovis Moomey	Trustee	1.00	Director	$0	$0	$90,906
Walter Ashford	Trustee	1.00	Director	$0	$0	$0
Jaycob Moore	Trustee/Employee	40.00	Director	$72,760	$0	$72,760
Randy Palumbo	Trustee/Employee	40.00	Director	$53,720	$0	$53,720

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	$194,571	$260,827	$327,824	$-66,256
2022	$241,715	$254,473	$393,666	$-12,758
2021	$152,992	$280,831	$405,316	$-127,839
2020	$211,244	$306,481	$533,155	$-95,237
2019	$379,186	$257,156	$628,392	$122,030
2018	$253,314	$208,180	$506,362	$45,134

Iron Workers Western Oklahoma Area Joint Apprenticeship Committee