INTERNATIONAL ASSOCIATION OF HEAT … - 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

1940

Legal Domicile

Principal Officer

JAMES CASSIDY

Phone

7243789735

Tax Period

2024-05-01 to 2025-04-30

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS &ASBESTOS WORKERS LOCA, founded in 1940, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. Net assets of $16.2M represent 77 months of operating reserves.

Mission

LABOR UNION - TO PROVIDE FOR THE IMPROVEMENT OF CONDITIONS, PRODUCTIVITY, AND EFFICIENCY IN THE HEAT AND FROST INSULATORS AND ASBESTOS WORKERS TRADE.

Program Service Accomplishments

Program 1

IMPROVMENT OF CONDITIONS, PRODUCTIVITY, AND EFFICIENCY IN THE HEAT AND FROST INSULATORS AND ASBESTOS WORKERS TRADE.

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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 $1,987,661

Program Service Revenue $0

Investment Income $431,927

Other Revenue $109,897

TOTAL REVENUE $2,529,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,146,303

Fundraising Expenses $0

Other Expenses $1,346,187

TOTAL EXPENSES $2,492,490

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,529,485	$2,508,338	+0.0%
Expenses	$2,492,490	$2,399,675	+0.0%
Net Income	$36,995	$108,663	-0.7%

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

$716,467

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM CASSIDY	FINANCIAL SECY/BUS MGR	46.00	Officer	$135,020	$96,047	$231,067
DAN CASSIDY	PRIOR BUSINESS AGENT/OFFICER	46.00	Officer	$132,992	$95,580	$228,572
JEFFREY JOHNS	PRESIDENT	1.00	Officer	$3,026	$1,873	$4,899
JOHN STEWART	BUSINESS AGENT/REC SECY	46.00	Officer	$132,992	$95,580	$228,572
BRADLEY SCHAFER	BUSINESS AGENT/OFFICER	1.00	Officer	$2,232	$1,592	$3,824
DEREK GRAY	E-BOARD	1.00	Officer	$758	$472	$1,230
JEFF TATE	TRUSTEE/E-BOARD	1.00	Officer	$0	$0	$0
MICHAEL BIANCHI	TRUSTEE	1.00	Officer	$0	$0	$0
ERIC HARBAUGH	TREASURER	5.00	Officer	$6,776	$4,214	$10,990
SEAN HAUSERMAN	E-BOARD	1.00	Officer	$0	$0	$0
JEROME SMITH JR	VICE PRESIDENT	1.00	Officer	$758	$472	$1,230
ED SEILER	TRUSTEE	1.00	Officer	$0	$0	$0
JONATHAN GRONSKY	E-BOARD	1.00	Officer	$0	$0	$0
DAVID RAAB	SGT AT ARMS	1.00	Officer	$0	$0	$0
JOHNATHAN AUGUSTINE	E-BOARD-PRIOR	1.00	Officer	$758	$472	$1,230
JACOB ABBONDANZA	E-BOARD	1.00	Officer	$758	$472	$1,230
JOHNATHAN R SEILER	PRIOR TREASURER	5.00	Officer	$2,224	$1,399	$3,623
JOSEPH SEILER JR	ORGANIZER	46.00	Highest	$123,260	$92,069	$215,329

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	$2,529,485	$2,492,490	$16,182,441	$36,995
2024	$2,508,338	$2,399,675	$15,627,737	$108,663
2023	$4,901,848	$2,798,855	$15,113,695	$2,102,993
2022	$8,881,543	$2,943,116	$13,053,886	$5,938,427
2021	$4,118,352	$2,035,080	$7,135,784	$2,083,272

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS &ASBESTOS WORKERS LOCA