STEAMFITTERS LOCAL UNION NO 449 JOINT APPRENTICESHIP & TRAINING COMMITTEE (EIN 256069802) - 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

1962

Legal Domicile

Principal Officer

REGIS R CLAUS

Phone

4126833600

Tax Period

2023-01-01 to 2023-12-31

STEAMFITTERS LOCAL UNION NO 449 JOINT APPRENTICESHIP & TRAINING COMMITTEE, founded in 1962, is a community nonprofit in the Employment sector that reported $5.9M in total revenue in fiscal year 2023. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $7.7M exceeded revenue, resulting in a 31% operating deficit.

Mission

TO PROVIDE THE PROPER EDUCATION FOR LABOR UNIONS OPERATING IN THE MECHANICAL CONSTRUCTION INDUSTRY.

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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 $1,631,720

Program Service Revenue $3,307,374

Investment Income $718,628

Other Revenue $196,509

TOTAL REVENUE $5,854,231

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,601,839

Fundraising Expenses $0

Program Expenses $7,487,033

Other Expenses $4,075,352

TOTAL EXPENSES $7,677,191

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,854,231	$8,374,957	-0.3%
Expenses	$7,677,191	$7,451,142	+0.0%
Net Income	$-1,822,960	$923,815	-3.0%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH BEARDSLEY	TRUSTEE	0.50	Director	$0	$0	$0
JOHN JORDAN	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL CHAMBERS	TRUSTEE	0.50	Director	$0	$0	$0
JAY DAVIS	TRUSTEE	0.50	Director	$0	$0	$0
KENNETH J BROADBENT	CO-CHAIRMAN	0.50	Officer	$0	$0	$0
DANIEL M LUGAILA	CO-CHAIRMAN	0.50	Officer	$0	$0	$0
JAMES HARDING	SECRETARY	0.50	Officer	$0	$0	$0
REGIS R CLAUS	TREASURER	0.50	Officer	$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	$5,854,231	$7,677,191	$23,515,369	$-1,822,960
2022	$8,374,957	$7,451,142	$24,280,026	$923,815
2021	$16,253,567	$6,004,124	$25,881,880	$10,249,443
2020	$11,897,674	$5,355,925	$15,460,897	$6,541,749
2019	$10,773,759	$5,020,318	$8,360,352	$5,753,441
2018	$3,898,424	$3,925,108	$3,004,805	$-26,684

STEAMFITTERS LOCAL UNION NO 449 JOINT APPRENTICESHIP & TRAINING COMMITTEE