CEDAR RAPIDS ELECTRICAL WORKERS LOCAL #405 HEALTH AND WELFARE FUND (EIN 237091120) - 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

1970

Legal Domicile

Principal Officer

JACKSON BARRIGAR

Phone

3193983283

Tax Period

2024-01-01 to 2024-12-31

CEDAR RAPIDS ELECTRICAL WORKERS LOCAL #405 HEALTH AND WELFARE FUND, founded in 1970, is a mid-sized nonprofit that reported $15.5M in total revenue in fiscal year 2024. The organization ran a surplus of $3.8M, a strong 25% operating margin.

Mission

H&W FUND CONTRIBUTIONS PROVIDE HEALTH AND WELFARE BENEFITS TO PARTICIPANTS 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $14,389,334

Investment Income $1,082,897

Other Revenue $0

TOTAL REVENUE $15,472,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,058,311

TOTAL EXPENSES $11,649,691

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,472,231	$14,986,199	+0.0%
Expenses	$11,649,691	$12,427,937	-0.1%
Net Income	$3,822,540	$2,558,262	+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

N/A

Employees

N/A

Volunteers

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

$2,010

Total Directors

$163,889

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACKSON BARRIGAR	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JEFFREY COOLING	SECRETARY	1.00	Officer Director	$0	$0	$2,010
JOSH UMSTEAD	UNION TRUSTEE	1.00	Director	$0	$0	$0
BILL MCDERMOTT	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
MATT RESOR	UNION TRUSTEE	1.00	Director	$0	$47,670	$161,879
ETHAN DOMKE	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
JOHN LANE	ALTERNATE UNION TRUSTEE	0.50	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
2024	$15,472,231	$11,649,691	$27,664,659	$3,822,540
2023	$14,986,199	$12,427,937	$23,560,944	$2,558,262
2022	$13,265,769	$11,899,085	$19,523,124	$1,366,684
2021	$13,329,541	$12,434,841	$22,055,471	$894,700
2020	$11,460,371	$11,249,260	$21,198,252	$211,111
2019	$12,014,300	$10,910,957	$19,424,053	$1,103,343
2018	$11,059,502	$9,733,560	$16,865,326	$1,325,942

CEDAR RAPIDS ELECTRICAL WORKERS LOCAL #405 HEALTH AND WELFARE FUND