WELFARE FUND OF LOCAL - 293 (EIN 346535474) - 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

1951

Legal Domicile

Principal Officer

MICHAEL H ZEMLA

Phone

2167399489

Tax Period

2022-01-01 to 2022-04-29

WELFARE FUND OF LOCAL - 293, founded in 1951, is a community nonprofit that reported $5.6M in total revenue in fiscal year 2022. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $4.8M left a modest 15% surplus.

Mission

TO PROVIDE HEALTH & WELFARE (CONTINUED ON SCHEDULE O)(SICK, ACCIDENT, MEDICAL, DENTAL, PRESCRIPTION, VISION, & DEATH) BENEFITS TO ELIGIBLE MEMBERS OF CONTRIBUTING EMPLOYERS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,504,538

Investment Income $79,106

Other Revenue $0

TOTAL REVENUE $5,583,644

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,321

Fundraising Expenses $0

Other Expenses $145,955

TOTAL EXPENSES $4,767,724

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,583,644	$17,146,717	-0.7%
Expenses	$4,767,724	$17,734,531	-0.7%
Net Income	$815,920	$-587,814	-2.4%

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

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
BRUCE OSBORNE JR	UNION TRUSTEE	5.00	Director	$0	$0	$0
THOMAS TYRRELL	UNION TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL H ZEMLA	CHAIRMAN	10.00	Director	$0	$0	$0
DENNY BENVENUTO	EMPLOYER-TRUSTEE	1.00	Director	$0	$0	$0
LEN GANLEY	EMPLOYER-TRUSTEE	1.00	Director	$0	$0	$0
KEVIN SCHROEDER	EMPLOYER-TRUSTEE	1.00	Director	$0	$0	$0
JAMES STEIGEL	EMPLOYER-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
2022	$5,583,644	$4,767,724	No data	$815,920
2020	$16,193,020	$17,655,196	$3,706,774	$-1,462,176
2019	$16,073,758	$16,168,296	$5,087,817	$-94,538
2018	$15,964,610	$17,504,575	$4,975,387	$-1,539,965

WELFARE FUND OF LOCAL - 293