International Brotherhood of Teamsters Local 585 (EIN 250568318) - 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

1937

Legal Domicile

Principal Officer

Harold Close

Phone

7242256465

Tax Period

2024-01-01 to 2024-12-31

International Brotherhood of Teamsters Local 585, founded in 1937, is a small nonprofit that reported $704K in total revenue in fiscal year 2024. Expenses of $676K left a modest 4% surplus.

Mission

To organize workers to improve wages working conditions other economic advantages for its members through organizing negotiations

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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 $693,761

Investment Income $3,786

Other Revenue $6,340

TOTAL REVENUE $703,887

Expense Breakdown

Grants Paid $0

Salaries & Benefits $429,086

Fundraising Expenses $0

Other Expenses $247,267

TOTAL EXPENSES $676,353

Year-over-Year Comparison

	2024	2023	Change
Revenue	$703,887	$660,505	+0.1%
Expenses	$676,353	$635,772	+0.1%
Net Income	$27,534	$24,733	+0.1%

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

$436,348

Total Directors

$439,798

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HAROLD CLOSE	Secretary Treasurer	45.00	Officer Director	$110,754	$109,780	$220,534
DEAN BURGE	President	45.00	Officer Director	$102,681	$109,780	$212,461
BRADLEY HARPER	Recording Secretary	5.00	Officer Director	$2,153	$0	$2,153
TODD LANCH	Trustee	5.00	Director	$1,650	$0	$1,650
SEAN RENDLEMAN	Trustee	5.00	Director	$1,500	$0	$1,500
RICHARD REYNOLDS	Vice President	2.00	Officer Director	$1,200	$0	$1,200
JOHN BOYER	Trustee	5.00	Director	$300	$0	$300

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	$703,887	$676,353	$311,689	$27,534
2023	$660,505	$635,772	$289,523	$24,733
2022	$631,146	$629,463	$264,536	$1,683
2021	$603,174	$626,344	$266,956	$-23,170
2020	$580,310	$587,035	$156,178	$-6,725
2019	$631,756	$641,862	$160,774	$-10,106
2018	$597,182	$611,901	$172,038	$-14,719

International Brotherhood of Teamsters Local 585