IBEW LOCAL 712 - WELFARE TRUST FUND (EIN 256037360) - 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

1955

Legal Domicile

Principal Officer

MATT COWIE

Phone

4124321125

Tax Period

2023-01-01 to 2023-12-31

IBEW LOCAL 712 - WELFARE TRUST FUND, founded in 1955, is a mid-sized nonprofit that reported $12.7M in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.0M, a strong 15% operating margin.

Mission

MEDICAL/DEATH BENEFITS TO MEMBERS AND 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 $10,755,789

Investment Income $1,935,056

Other Revenue $0

TOTAL REVENUE $12,690,845

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,159,461

TOTAL EXPENSES $10,730,814

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,690,845	$25,682,631	-0.5%
Expenses	$10,730,814	$15,259,487	-0.3%
Net Income	$1,960,031	$10,423,144	-0.8%

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

N/A

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
FRANK E TELESZ JR THRU 72023	TRUSTEE	3.00	Director	$0	$0	$0
JOHN A KOCHANOWSKI THRU 72023	TRUSTEE	3.00	Director	$0	$0	$0
MICHAEL D ROBINSON JR	TRUSTEE	3.00	Director	$0	$0	$0
ROBERT J BRUCE	TRUSTEE	3.00	Director	$0	$0	$0
MATT COWIE AS OF 82023	TRUSTEE	3.00	Director	$0	$0	$0
DECLAN M PAPE AS OF 82023	TRUSTEE	3.00	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	No data	No data	No data	No data
2023	$12,690,845	$10,730,814	$90,122,455	$1,960,031
2022	$25,682,631	$15,259,487	$84,826,495	$10,423,144
2021	$50,115,056	$28,996,887	$86,369,424	$21,118,169
2020	$30,186,921	$17,680,970	$59,449,372	$12,505,951
2019	$28,812,396	$15,767,257	$43,861,532	$13,045,139
2018	$12,109,308	$7,920,911	$29,842,093	$4,188,397

IBEW LOCAL 712 - WELFARE TRUST FUND