LOCAL NO 840 IBEW GROUP INSURANCE PLAN (EIN 331118241) - 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

1965

Legal Domicile

Principal Officer

MICHAEL L DAVIS

Phone

3157893330

Tax Period

2023-01-01 to 2023-12-31

LOCAL NO 840 IBEW GROUP INSURANCE PLAN, founded in 1965, is a community nonprofit in the Mutual Benefit sector that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 27% operating margin.

Mission

PROVIDE HEALTH & INSURANCE BENEFITS TO MEMBERS OF THE ELECTRICAL WORKERS INDUSTRY IN THE LOCAL 840 JURISDICTION.

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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 $4,129,312

Investment Income $78,233

Other Revenue $0

TOTAL REVENUE $4,207,545

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $119,380

TOTAL EXPENSES $3,091,283

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,207,545	$3,485,878	+0.2%
Expenses	$3,091,283	$2,939,954	+0.1%
Net Income	$1,116,262	$545,924	+1.0%

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

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

$94,979

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARILYN OPPEDISANO	TRUSTEE	1.00	Director	$0	$0	$0
NICK OPPEDISANO	TRUSTEE	1.00	Director	$0	$0	$0
RANDY KNAPP	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL D SMITH	TRUSTEE	1.00	Director	$0	$0	$0
PATRICK CONNOR	TRUSTEE	1.00	Director	$0	$0	$0
STEVE ROSS	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL L DAVIS	FUND ADMINISTRATOR	11.00	Officer	$0	$28,461	$94,979

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	$4,207,545	$3,091,283	$6,286,974	$1,116,262
2022	$3,485,878	$2,939,954	$5,104,195	$545,924
2021	$3,518,829	$2,638,305	$4,516,954	$880,524
2020	$2,956,242	$2,314,862	$3,660,366	$641,380
2019	$3,041,890	$2,122,250	$3,012,204	$919,640
2018	$2,817,558	$2,111,003	$2,085,261	$706,555

LOCAL NO 840 IBEW GROUP INSURANCE PLAN