UNITED FOOD AND COMMERCIAL WORKERS UNION LOCAL NO 655 WELFARE FUND (EIN 237401847) - 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

Principal Officer

DAVID COOK

Phone

3148352700

Tax Period

2023-09-01 to 2024-08-31

UNITED FOOD AND COMMERCIAL WORKERS UNION LOCAL NO 655 WELFARE FUND, founded in 1953, is a mid-sized nonprofit that reported $57.1M in total revenue in fiscal year 2023. Expenses of $63.3M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO COVERED MEMBERS AND THEIR ELIGIBLE 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $56,224,726

Investment Income $714,362

Other Revenue $208,654

TOTAL REVENUE $57,147,742

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,260,830

Fundraising Expenses $0

Program Expenses $63,260,205

Other Expenses $1,889,976

TOTAL EXPENSES $63,260,205

Year-over-Year Comparison

	2023	2022	Change
Revenue	$57,147,742	$57,254,891	0.0%
Expenses	$63,260,205	$68,265,167	-0.1%
Net Income	$-6,112,463	$-11,010,276	-0.4%

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

N/A

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
NANCY MEYER	TRUSTEE	1.00	Director	$0	$0	$0
STEVE POWELL	TRUSTEE	1.00	Director	$0	$0	$0
DAVID COOK	CHAIRMAN	1.00	Officer Director	$0	$0	$0
NIKKI RICH	TRUSTEE	1.00	Director	$0	$0	$0
MIKE WILLIS	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT SPENCE	TRUSTEE	1.00	Director	$0	$0	$0
ROB FRANCIN	EXITING TRUSTEE	1.00	Director	$0	$0	$0
MIKE FORTE	CO-CHAIRMAN	1.00	Officer Director	$0	$0	$0
DAVID WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
TOM GUZ	TRUSTEE	1.00	Director	$0	$0	$0
PAUL SCHAEFER	TRUSTEE	1.00	Director	$0	$0	$0
LAURA KELLEY	TRUSTEE	1.00	Director	$0	$0	$0
HOLLY VERWEYST	TRUSTEE	1.00	Director	$0	$0	$0
AUDRIE HOWARD	TRUSTEE	1.00	Director	$0	$0	$0
MARGO QUINIAN	EXITING 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
2024	$57,147,742	$63,260,205	$28,493,319	$-6,112,463
2023	$57,254,891	$68,265,167	$33,760,509	$-11,010,276
2022	$64,999,846	$64,440,657	$44,087,656	$559,189
2021	$73,075,705	$74,264,166	$48,304,504	$-1,188,461
2020	$58,046,423	$67,526,806	$49,453,374	$-9,480,383
2019	$81,613,819	$86,892,129	$59,149,652	$-5,278,310
2018	$86,150,262	$74,019,699	$60,226,140	$12,130,563

UNITED FOOD AND COMMERCIAL WORKERS UNION LOCAL NO 655 WELFARE FUND