ASBESTOS WORKERS LOCAL NO 42 APPRENTICESHIP TRAINING & EDUCATION FUND (EIN 237123737) - 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

PRESTON III SMITH

Phone

4843288111

Tax Period

2023-08-01 to 2024-07-31

ASBESTOS WORKERS LOCAL NO 42 APPRENTICESHIP TRAINING & EDUCATION FUND, founded in 1970, is a small nonprofit in the Employment sector that reported $127K in total revenue in fiscal year 2023. The organization ran a surplus of $20K, a strong 15% operating margin.

Mission

THE EXEMPT PURPOSE OF THIS FUND IS TO PROVIDE A TRAINING AND EDUCATIONAL PROGRAM FOR APPRENTICES AND, AT THE DISCRETION OF THE TRUSTEES, FOR JOURNEYMEN.

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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 $127,056

Investment Income $0

Other Revenue $0

TOTAL REVENUE $127,056

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,551

Fundraising Expenses $0

Program Expenses $68,718

Other Expenses $68,894

TOTAL EXPENSES $107,445

Year-over-Year Comparison

	2023	2022	Change
Revenue	$127,056	$118,480	+0.1%
Expenses	$107,445	$113,996	-0.1%
Net Income	$19,611	$4,484	+3.4%

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

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

$121,655

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP MITCHENER	UNION TRUSTEE	2.00	Director	$0	$0	$0
NICHOLAS SMITH	UNION TRUSTEE	20.00	Director	$17,260	$0	$17,260
JOSEPH FERRARA	UNION TRUSTEE	2.00	Director	$0	$0	$0
PRESTON JEFF SMITH	UNION TRUSTEE	2.00	Director	$0	$7,800	$104,395
JOHN DILLON	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
ERIC DUDZINSKI	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
STEVEN CASTELLARIN	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
JOHN KILINE	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	No data	No data	No data	No data
2024	$127,056	$107,445	$227,780	$19,611
2023	$118,480	$113,996	$206,877	$4,484
2022	$110,334	$109,783	$202,393	$551
2021	$78,802	$95,721	$210,898	$-16,919
2020	$109,518	$104,794	$218,297	$4,724
2019	$155,094	$117,451	$212,713	$37,643
2018	$118,382	$107,368	$195,134	$11,014

ASBESTOS WORKERS LOCAL NO 42 APPRENTICESHIP TRAINING & EDUCATION FUND