CANTON ELECTRICAL WELFARE FUND

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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

1965

Legal Domicile

Phone

3302700453

Tax Period

2023-11-01 to 2024-10-31

CANTON ELECTRICAL WELFARE FUND, founded in 1965, is a mid-sized nonprofit that reported $11.2M in total revenue in fiscal year 2023. Expenses of $13.3M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO PROVIDE MEDICAL, VISION, DENTAL, DISABILITY, LIFE INSURANCE, AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS OF IBEW 540 AND THEIR FAMILIES.

Program Service Accomplishments

Program 1

THE ORGANIZATION PROVIDES MEDICAL, VISION, DENTAL, LIFE INSURANCE, AN ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO ELIGIBLE MEMBERS OF THE IBEW LOCAL UNION 540 AND THEIR MEMBERS.

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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 $10,755,420

Investment Income $445,376

Other Revenue $35,796

TOTAL REVENUE $11,236,592

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,922

Fundraising Expenses $0

Other Expenses $1,841,169

TOTAL EXPENSES $13,305,455

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,236,592	$10,800,735	+0.0%
Expenses	$13,305,455	$9,351,503	+0.4%
Net Income	$-2,068,863	$1,449,232	-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

$2,535

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIK HANN	TRUSTEE	1.00	Director	$0	$0	$0
BRENT FATZINGER	TRUSTEE	1.00	Director	$0	$0	$0
CURT MOORE	TRUSTEE	1.00	Director	$0	$0	$0
MITCH NEISEL	TRUSTEE	1.00	Director	$2,535	$0	$2,535
JAMES DECKERT	TRUSTEE	1.00	Director	$0	$0	$0
JOHN SCOTT	TRUSTEE	1.00	Director	$0	$0	$0
PHILIP WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
NATHAN POWELL	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	$11,236,592	$13,305,455	$21,619,699	$-2,068,863
2023	$10,800,735	$9,351,503	$21,297,425	$1,449,232
2022	$9,839,422	$7,998,864	$19,585,337	$1,840,558
2021	$9,164,122	$8,626,202	$20,317,325	$537,920
2020	$8,220,655	$7,683,087	$18,819,101	$537,568
2019	$8,966,051	$8,118,893	$17,686,747	$847,158
2018	$8,080,882	$7,948,030	$16,820,864	$132,852