Insulators Local No #2 Welfare Fund (EIN 256030310) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1961

Legal Domicile

Principal Officer

JAMES CASSIDY

Phone

4124321143

Tax Period

2024-01-01 to 2024-12-31

Insulators Local No #2 Welfare Fund, founded in 1961, is a mid-sized nonprofit that reported $11.6M in total revenue in fiscal year 2024. Expenses of $13.1M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROVIDE HEALTH & WELFARE BENEFITS

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,573,832

Investment Income $1,024,328

Other Revenue $0

TOTAL REVENUE $11,598,160

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $465,930

TOTAL EXPENSES $13,125,666

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,598,160	$12,160,294	0.0%
Expenses	$13,125,666	$12,498,051	+0.1%
Net Income	$-1,527,506	$-337,757	+3.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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
JAMES CASSIDY	TRUSTEE / CO-CHAIRMAN	1.00	Director	$0	$0	$0
JAMES BURNHAM JR	TRUSTEE / CO-CHAIRMAN	1.00	Director	$0	$0	$0
BRAD SCHAFER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN STEWART	TRUSTEE	1.00	Director	$0	$0	$0
KEITH CONNOLLY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL LANGSDORF	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	$11,598,160	$13,125,666	$37,618,631	$-1,527,506
2023	$12,160,294	$12,498,051	$37,425,839	$-337,757
2022	$16,607,776	$10,238,239	$35,666,325	$6,369,537
2021	$16,860,239	$9,658,269	$34,995,845	$7,201,970
2020	$10,936,779	$11,294,792	$23,683,295	$-358,013
2019	$12,166,221	$10,312,957	$21,790,317	$1,853,264
2018	$11,485,549	$11,053,727	$17,918,271	$431,822

Insulators Local No #2 Welfare Fund