IBEW LOCAL UNION 306 SUPPLEMENTAL HEALTH BENEFIT FUND (EIN 341409929) - 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

1983

Legal Domicile

Principal Officer

CHARLES ZITTLE

Phone

3309293189

Tax Period

2024-06-01 to 2025-05-31

IBEW LOCAL UNION 306 SUPPLEMENTAL HEALTH BENEFIT FUND, founded in 1983, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $932K, a strong 32% operating margin.

Mission

THE FUND PROVIDES FULLY INSURED LIFE, SICKNESS, ACCIDENT AND HEALTH BENEFITS TO RETIRED MEMBERS AND SURVIVING SPOUSES OF DECEASED RETIRED MEMBERS OF IBEW LOCAL UNION 306, AND MEDICAL.

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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 $2,655,049

Investment Income $280,016

Other Revenue $2,712

TOTAL REVENUE $2,937,777

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,480,264

TOTAL EXPENSES $2,005,658

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,937,777	$2,709,735	+0.1%
Expenses	$2,005,658	$2,065,464	0.0%
Net Income	$932,119	$644,271	+0.4%

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

$215,706

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MITCH DOUGLAS	TRUSTEE	1.00	Director	$0	$0	$0
JOHN KELLAMIS	SECRETARY	1.00	Director	$0	$0	$0
BENJAMIN BOVARD	TRUSTEE	1.00	Director	$0	$0	$0
JASON WALDEN	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTEEN SPEELMAN-PARSONS	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MIGHT THRU 1024	CHAIRMAN	1.00	Director	$0	$0	$94,723
CHARLES ZITTLE AS OF 1024	CHAIRMAN	1.00	Director	$0	$0	$120,983

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	$2,937,777	$2,005,658	$10,259,457	$932,119
2024	$2,709,735	$2,065,464	$8,953,540	$644,271
2023	$2,585,777	$1,958,387	$8,109,549	$627,390
2022	$1,875,943	$1,698,674	$7,640,859	$177,269
2021	$1,929,228	$1,490,669	$7,847,328	$438,559
2020	$2,293,981	$1,415,847	$6,892,000	$878,134
2019	$2,180,056	$1,392,529	$5,965,204	$787,527
2018	$1,856,573	$1,339,361	$5,236,180	$517,212

IBEW LOCAL UNION 306 SUPPLEMENTAL HEALTH BENEFIT FUND