BOARD OF TRUSTEES TOLEDO ELECTRICAL WELFARE FUND (EIN 344441661) - 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

1953

Legal Domicile

Principal Officer

CURTIS R DONLEY

Phone

4196664450

Tax Period

2023-01-01 to 2023-12-31

BOARD OF TRUSTEES TOLEDO ELECTRICAL WELFARE FUND, founded in 1953, is a mid-sized nonprofit that reported $50.0M in total revenue in fiscal year 2023. Expenses of $44.2M left a modest 12% surplus.

Mission

TO PROVIDE HEALTH AND WELFRE BENEFITS TO MEMBERS AND DEPENDENTS

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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 $47,733,979

Investment Income $2,254,607

Other Revenue $39,352

TOTAL REVENUE $50,027,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $769,161

Fundraising Expenses $0

Other Expenses $721,216

TOTAL EXPENSES $44,159,208

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,027,938	$50,722,477	0.0%
Expenses	$44,159,208	$44,802,783	0.0%
Net Income	$5,868,730	$5,919,694	0.0%

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

N/A

Employees

584

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

$186,517

Total Directors

$313,355

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD T MICHAELSEN	MGMT TRUSTEE	1.00	Director	$0	$0	$0
ROY B GROSSWILER	LABOR TRUSTEE	1.00	Director	$0	$16,264	$184,292
THOMAS ENRIGHT	LABOR TRUSTEE	1.00	Director	$0	$9,580	$120,461
RANDY BRYAN	LABOR TRUSTEE	1.00	Director	$0	$0	$0
CHAD TURNER	MGMT TRUSTEE	1.00	Director	$0	$0	$0
SEAN MCCARTHY	MGMT TRUSTEE	1.00	Director	$0	$0	$0
SHAUN ENRIGHT	LABOR TRUSTEE	1.00	Director	$0	$2,907	$8,602
ERICK SCHMIDT	MGMT TRUSTEE	1.00	Director	$0	$0	$0
CURTIS DONLEY	ADMINISTRATIVE MANAGER	11.00	Officer	$0	$41,424	$186,517

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	$50,027,938	$44,159,208	$95,088,652	$5,868,730
2022	$50,722,477	$44,802,783	$85,583,175	$5,919,694
2021	$43,224,604	$38,842,240	$83,978,867	$4,382,364
2020	$48,241,231	$46,557,570	$82,166,758	$1,683,661
2019	$50,754,951	$38,442,923	$78,303,907	$12,312,028
2018	$43,364,615	$34,032,530	$62,948,233	$9,332,085

BOARD OF TRUSTEES TOLEDO ELECTRICAL WELFARE FUND