DIVISION 1181 ATU - NEW YORK WELFA… - 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

1983

Legal Domicile

Principal Officer

MICHAEL CORDIELLO

Phone

7188455800

Tax Period

2023-01-01 to 2023-12-31

DIVISION 1181 ATU - NEW YORK WELFARE FUND, founded in 1983, is a major nonprofit that reported $131.2M in total revenue in fiscal year 2023. The organization ran a surplus of $21.9M, a strong 17% operating margin.

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE LIFE, ACCIDENT, DISABILITY, HOSPITALIZATION, MAJOR MEDICAL, DENTAL,PRESCRIPTION DRUG AND OPTICAL BENEFITS TO ELIGIBLE PARTICIPANTSAND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS. THE NUMBER OF PARTICIPANTS WAS APPROXIMATELY 9,506.

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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 $126,169,187

Investment Income $3,522,626

Other Revenue $1,486,446

TOTAL REVENUE $131,178,259

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,828,351

Fundraising Expenses $0

Other Expenses $1,341,777

TOTAL EXPENSES $109,247,941

Year-over-Year Comparison

	2023	2022	Change
Revenue	$131,178,259	$124,286,953	+0.1%
Expenses	$109,247,941	$103,803,320	+0.1%
Net Income	$21,930,318	$20,483,633	+0.1%

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

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

$422,773

Total Directors

$802,354

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CORDIELLO	UNION TRUSTEE - CHAIRMAN	3.00	Director	$0	$0	$48,000
NEIL STRAHL	EMPLOYER TRUSTEE-SECRETARY	4.00	Director	$0	$0	$0
JEAN-CLAUDE CALIXTE	UNION TRUSTEE	3.00	Director	$0	$21,611	$222,462
JAMES P HEDGE	ALT. UNION TRUSTEE	2.00	Director	$17,567	$21,611	$39,178
NEIL MANCUSO	EMPLOYER TRUSTEE	5.00	Director	$0	$0	$0
COREY MUIRHEAD	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
STANLEY BRETTSCHNEIDER	EMPLOYER TRUSTEE	2.00	Director	$0	$0	$0
TOMAS FRET JR	UNION TRUSTEE	3.00	Director	$0	$21,611	$279,831
ANTHONY CORDIELLO	UNION TRUSTEE	2.00	Director	$0	$21,611	$212,883
ROBERT D'ULISSE	FUND DIRECTOR	33.00	Officer	$211,088	$21,611	$232,699
VINCENT ZITO	CONTROLLER	27.00	Officer	$168,463	$21,611	$190,074

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	$131,178,259	$109,247,941	$120,001,891	$21,930,318
2022	$124,286,953	$103,803,320	$94,779,317	$20,483,633
2021	$118,165,970	$95,533,911	$78,112,152	$22,632,059
2020	$76,654,792	$57,687,568	$55,164,625	$18,967,224
2019	$97,750,470	$98,216,827	$36,061,868	$-466,357
2018	$91,446,972	$93,410,571	$35,419,483	$-1,963,599

DIVISION 1181 ATU - NEW YORK WELFARE FUND