INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS AND ASBESTOS WKRS L45 (EIN 344417487) - 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

1916

Legal Domicile

Principal Officer

KHRIS SHIVELY

Phone

4197264683

Tax Period

2025-01-01 to 2025-12-31

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS AND ASBESTOS WKRS L45, founded in 1916, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2025. Revenue decreased 7% compared to the prior year. Expenses of $1.0M left a modest 4% surplus.

Mission

LABOR UNION ORGANIZATION

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $943,972

Investment Income $103,204

Other Revenue $28,398

TOTAL REVENUE $1,075,574

Expense Breakdown

Grants Paid $19,840

Salaries & Benefits $441,652

Fundraising Expenses $0

Other Expenses $575,390

TOTAL EXPENSES $1,036,882

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,075,574	$1,157,995	-0.1%
Expenses	$1,036,882	$962,111	+0.1%
Net Income	$38,692	$195,884	-0.8%

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

$342,343

Total Directors

$1,474

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID ANDERSEN	EXECUTIVE BOARD	1.00	Director	$0	$0	$0
MATT BOURDO	EXECUTIVE BOARD	1.00	Director	$0	$0	$0
ROB NOWAK	TRUSTEE & EXECUTIVE BOARD	1.00	Director	$1,326	$0	$1,326
AMBER LEDFORD	TRUSTEE	1.00	Director	$148	$0	$148
ASHLEY TUNISON	TRUSTEE & EXECUTIVE BOARD	1.00	Director	$0	$0	$0
ZACHARY ANDERSON	EXECUTIVE BOARD	1.00	Director	$0	$0	$0
GREGORY FROST	PRESIDENT	3.00	Officer	$92,535	$68,518	$161,053
RYAN WEBB	VICE PRESIDENT	3.00	Officer	$900	$730	$1,630
KHRISTOPHER SHIVELY	BUSINESS MANAGER	47.50	Officer	$104,520	$75,140	$179,660

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	$1,075,574	$1,036,882	$3,469,526	$38,692
2024	$1,157,995	$962,111	$3,430,834	$195,884
2023	$1,053,205	$904,045	$3,234,950	$149,160
2022	$1,087,040	$832,154	$3,085,790	$254,886
2021	$836,892	$887,146	$2,830,904	$-50,254
2020	$955,936	$828,473	$2,881,158	$127,463
2019	$966,311	$887,744	$2,753,695	$78,567
2018	$920,354	$891,323	$2,675,128	$29,031

INTERNATIONAL ASSOCIATION OF HEAT & FROST INSULATORS AND ASBESTOS WKRS L45