ALPENA POWER COMPANY RETIREE HEALT… - 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

2007

Legal Domicile

Principal Officer

KENNETH DRAGIEWICZ

Phone

9893584931

Tax Period

2023-01-01 to 2023-12-31

ALPENA POWER COMPANY RETIREE HEALTH AND WELFARE BENEFIT TRUST, founded in 2007, is a small nonprofit in the Mutual Benefit sector that reported $138K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $284K exceeded revenue, resulting in a 106% operating deficit.

Mission

TO FUND THE MEDICAL COST OF ALPENA POWER COMPANY RETIREES AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE ORGANIZATION WILL RECEIVE FUNDING OF CONTRIBUTIONS FROM ALPENA POWER COMPANY, RETIREE CONTRIBUTIONS AND EARNINGS OF INVESTMENTS DIRECTED BY THE TRUSTEES; TO FUND THE MEDICAL COST OF ALPENA POWER...

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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 $11,982

Investment Income $125,871

Other Revenue $0

TOTAL REVENUE $137,853

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $284,421

TOTAL EXPENSES $284,421

Year-over-Year Comparison

	2023	2022	Change
Revenue	$137,853	$251,647	-0.5%
Expenses	$284,421	$244,895	+0.2%
Net Income	$-146,568	$6,752	-22.7%

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

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
KENNETH DRAGIEWICZ	CO-TRUSTEE	N/A	Director	$0	$0	$0
DANIELLE GREEN	CO-TRUSTEE	N/A	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$137,853	$284,421	$3,462,399	$-146,568
2022	$251,647	$244,895	$3,269,539	$6,752
2021	$101,490	$255,694	$3,758,237	$-154,204
2020	$300,643	$277,524	$3,546,997	$23,119
2019	$78,805	$249,693	$3,189,650	$-170,888
2018	$235,491	$237,981	$2,848,770	$-2,490

ALPENA POWER COMPANY RETIREE HEALTH AND WELFARE BENEFIT TRUST