HEALTH AND WELFARE FUND OF TEAMSTE… - 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

1972

Legal Domicile

Phone

4402340473

Tax Period

2024-01-01 to 2024-12-31

HEALTH AND WELFARE FUND OF TEAMSTERS LOCAL 473, founded in 1972, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO PROVIDE MEDICAL, DENTAL, VISION AND DISABILITY BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS

Program Service Accomplishments

Program 1

TO PROVIDE MEDICAL, DENTAL, VISION AND DISABILITY BENEFITS TO ELIGIBLE 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 $1,086,627

Investment Income $44,236

Other Revenue $17,871

TOTAL REVENUE $1,148,734

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,192

Fundraising Expenses $0

Other Expenses $117,051

TOTAL EXPENSES $1,424,623

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,148,734	$1,350,689	-0.1%
Expenses	$1,424,623	$1,520,864	-0.1%
Net Income	$-275,889	$-170,175	+0.6%

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
FRANK GRACE	CHAIRMAN / TRUSTEE	4	Officer Director	$0	$0	$0
PAUL CAVANAGH	TRUSTEE	2	Officer Director	$0	$0	$0
MARK ZACKERY	TRUSTEE	2	Director	$0	$0	$0
CHERRI BRADY	TRUSTEE	2	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	$1,148,734	$1,424,623	$956,445	$-275,889
2023	$1,350,689	$1,520,864	$1,242,915	$-170,175
2022	$1,348,382	$1,651,919	$1,400,461	$-303,537
2021	$1,506,948	$1,694,635	$1,726,302	$-187,687
2020	$1,663,748	$1,954,497	$1,905,000	$-290,749

HEALTH AND WELFARE FUND OF TEAMSTERS LOCAL 473