IRON WORKERS LOCAL UNION 401 APPRENTICE TRAINING FUND (EIN 237653299) - 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

1984

Legal Domicile

Principal Officer

Kevin Boyle

Phone

2156763000

Tax Period

2024-07-01 to 2025-06-30

IRON WORKERS LOCAL UNION 401 APPRENTICE TRAINING FUND, founded in 1984, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $1.3M left a modest 11% surplus.

Mission

Training of individual 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 (2024)

Revenue Breakdown

Contributions & Grants $306,578

Program Service Revenue $1,051,539

Investment Income $95,703

Other Revenue $2,415

TOTAL REVENUE $1,456,235

Expense Breakdown

Grants Paid $0

Salaries & Benefits $670,961

Fundraising Expenses $0

Other Expenses $467,381

TOTAL EXPENSES $1,296,416

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,456,235	$1,258,820	+0.2%
Expenses	$1,296,416	$1,038,949	+0.2%
Net Income	$159,819	$219,871	-0.3%

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

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

$1,207,558

Key Employees

$304,522

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kevin Boyle	Union Trustee	5.00	Director	$0	$131,986	$313,524
Eric Sims	Employer Trustee	5.00	Director	$0	$0	$0
Michael McGrogan	Coordinator	40.00	Key Emp	$172,536	$131,986	$304,522
Jamal Coles	Union Trustee	5.00	Director	$0	$131,986	$297,378
David Harvey	Employer Trustee	5.00	Director	$0	$0	$0
Henry Berk	Union Trustee	5.00	Director	$0	$131,986	$299,878
Patrick Walsh	Past Union Trustee	5.00	Director	$0	$131,986	$296,778
Chuck Nehring	Past Employer Trustee	5.00	Director	$0	$0	$0
Mike Tierney	Employer Trustee	5.00	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	$1,456,235	$1,296,416	$2,138,714	$159,819
2024	No data	No data	No data	No data
2023	$840,870	$893,925	$1,752,742	$-53,055
2022	$541,405	$925,361	$1,798,987	$-383,956
2021	$807,000	$943,020	$2,214,114	$-136,020
2020	$937,633	$1,067,777	$2,538,774	$-130,144
2019	$1,126,134	$805,373	$2,488,095	$320,761
2018	$1,220,069	$819,039	$2,165,890	$401,030

IRON WORKERS LOCAL UNION 401 APPRENTICE TRAINING FUND