IRONWORKERS LOCAL UNION 623 HOME ASSOCIA (EIN 237178593) - 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

1953

Legal Domicile

Phone

2253573262

Tax Period

2023-07-01 to 2024-06-30

IRONWORKERS LOCAL UNION 623 HOME ASSOCIA, founded in 1953, is a micro nonprofit that reported $74K in total revenue in fiscal year 2023. Revenue surged 65% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44K, a strong 59% operating margin.

Mission

LABOR UNION/HALL/PHYSICAL PLANT OPERATIONS.

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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 $0

Investment Income $64,633

Other Revenue $9,600

TOTAL REVENUE $74,233

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $30,488

TOTAL EXPENSES $30,488

Year-over-Year Comparison

	2023	2022	Change
Revenue	$74,233	$44,984	+0.7%
Expenses	$30,488	$26,222	+0.2%
Net Income	$43,745	$18,762	+1.3%

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

$412,696

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Luke Waggenspack	President	40.00	Officer	$0	$48,171	$138,952
Joshua Sonnier	Trustee	40.00	Officer	$0	$48,171	$136,872
Aldo Irias-Duron	Trustee	40.00	Officer	$0	$48,171	$136,872
Dennis Devillier	Trustee	1.00	Officer	$0	$0	$0
Greg Mougeot	Trustee	1.00	Officer	$0	$0	$0
James Foster	Trustee	1.00	Officer	$0	$0	$0
Bryan Coates	Trustee	1.00	Officer	$0	$0	$0
David Brown	Trustee	1.00	Officer	$0	$0	$0
JOHHNY SULLIVAN	Trustee	0.00	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
2025	No data	No data	No data	No data
2024	$74,233	$30,488	$1,768,718	$43,745
2023	$44,984	$26,222	$1,724,973	$18,762
2022	$16,913	$23,960	$1,131,213	$-7,047
2021	$21,791	$23,056	$1,137,203	$-1,265
2020	$27,451	$20,663	$1,138,468	$6,788
2019	$20,885	$20,220	$1,131,754	$665

IRONWORKERS LOCAL UNION 623 HOME ASSOCIA