SEIU LOCAL 1 CLEVELAND WELFARE FUND (EIN 340820618) - 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

1958

Legal Domicile

Principal Officer

MAX GERBOC

Phone

2168617655

Tax Period

2023-01-01 to 2023-12-31

SEIU LOCAL 1 CLEVELAND WELFARE FUND, founded in 1958, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2023. The organization ran a surplus of $598K, a strong 24% operating margin.

Mission

THIS ENTITY IS A MULTI-EMPLOYER HEALTH AND WELFARE FUND THAT PROVIDES (CONTINUED ON SCHEDULE O)BENEFITS TO EMPLOYEE MEMBERS, THE REVENUE FROM EMPLOYERS, EMPLOYEE COBRA, AND RETIREES ARE USED TO PROVIDE THESE BENEFITS.

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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 $2,209,795

Investment Income $258,897

Other Revenue $0

TOTAL REVENUE $2,468,692

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $313,095

TOTAL EXPENSES $1,871,064

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,468,692	$2,366,654	+0.0%
Expenses	$1,871,064	$1,715,721	+0.1%
Net Income	$597,628	$650,933	-0.1%

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
RUDOLPH BRAYDICH	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT CASTLE	TRUSTEE	1.00	Director	$0	$0	$0
MAX GERBOC	TRUSTEE	1.00	Director	$0	$0	$0
KENNETH MUNZ	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL RASPATELLO	TRUSTEE	1.00	Director	$0	$0	$0
YANELA SIMS	TRUSTEE	1.00	Director	$0	$0	$0
CAMILO VILLA	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
2024	No data	No data	No data	No data
2023	$2,468,692	$1,871,064	$9,956,647	$597,628
2022	$2,366,654	$1,715,721	$9,020,287	$650,933
2021	$1,708,973	$2,007,654	$9,521,539	$-298,681
2020	$1,584,504	$1,411,644	$9,767,554	$172,860
2019	$2,019,433	$2,096,434	$9,206,770	$-77,001
2018	$2,785,964	$2,120,269	$8,555,662	$665,695

SEIU LOCAL 1 CLEVELAND WELFARE FUND