IBEW 688 FRINGE BENEFIT FUNDS INC (EIN 264616613) - 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

2009

Legal Domicile

Principal Officer

BRIAN MCPEEK

Phone

4195295889

Tax Period

2024-06-01 to 2025-05-31

IBEW 688 FRINGE BENEFIT FUNDS INC, founded in 2009, is a community nonprofit in the Employment sector that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

SERVES AS A CENTRAL ENTITY WHERE CONTRACTORS MAY SEND ONE CHECK FOR ALL FRINGES OWED PER COLLECTIVE BARGAINING AGREEMENTS AND DISBURSES THOSE FUNDS TO THE INDIVIDUAL FRINGE FUNDS

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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 $1,585,971

Investment Income $4

Other Revenue $0

TOTAL REVENUE $1,585,975

Expense Breakdown

Grants Paid $0

Salaries & Benefits $78,484

Fundraising Expenses $0

Other Expenses $1,529,677

TOTAL EXPENSES $1,608,161

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,585,975	$1,447,860	+0.1%
Expenses	$1,608,161	$1,462,575	+0.1%
Net Income	$-22,186	$-14,715	+0.5%

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
DONNIE HANKINS	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN MCPEEK	CHAIRMAN/BUS	1.00	Officer Director	$0	$0	$0
JEREMY RYAN	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
2025	$1,585,975	$1,608,161	$9,310	$-22,186
2024	$1,447,860	$1,462,575	$31,496	$-14,715
2023	$2,906,543	$2,897,096	$46,211	$9,447
2022	$3,286,378	$3,296,230	$37,718	$-9,852
2021	$2,953,996	$2,960,819	$49,152	$-6,823
2020	$2,605,398	$2,606,617	$54,234	$-1,219
2019	$2,712,069	$2,698,706	$56,351	$13,363

IBEW 688 FRINGE BENEFIT FUNDS INC