IBEW LOCAL 300 HEALTH AND WELFARE

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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

1981

Legal Domicile

Principal Officer

TIMOTHY LABOMBARD

Phone

8028645864

Tax Period

2023-07-01 to 2024-06-30

IBEW LOCAL 300 HEALTH AND WELFARE, founded in 1981, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $4.9M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO PROVIDE HEALTH DENTAL VISION SHORT TERM DISABILITY AND LIFE INSURANCE BENEFITS TO ALL LOCAL 300 ELIGIBLE MEMBERS.

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH DENTAL VISION SHORT TERM DISABILITY AND LIFE INSURANCE BENEFITS TO ALL LOCAL 300 ELIGIBLE MEMBERS.

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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 $4,165,518

Investment Income $133,155

Other Revenue $0

TOTAL REVENUE $4,298,673

Expense Breakdown

Grants Paid $0

Salaries & Benefits $166,304

Fundraising Expenses $0

Other Expenses $500,906

TOTAL EXPENSES $4,916,875

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,298,673	$3,831,203	+0.1%
Expenses	$4,916,875	$4,048,214	+0.2%
Net Income	$-618,202	$-217,011	+1.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHANNON LAPIERRE	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY LABOMBARD	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN RITZ	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY PECK	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY WIMETTE	TRUSTEE	1.00	Director	$0	$0	$0
KERRY DAVIS	TRUSTEE	1.00	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	$4,298,673	$4,916,875	$2,999,250	$-618,202
2023	$3,831,203	$4,048,214	$3,252,476	$-217,011
2022	$3,830,044	$3,976,941	$3,376,422	$-146,897
2021	$3,734,738	$3,611,722	$3,846,235	$123,016
2020	$3,833,375	$3,751,673	$3,271,708	$81,702
2019	$3,788,690	$3,457,683	$3,139,811	$331,007
2018	$4,944,074	$4,530,100	$2,840,943	$413,974