LAKE COUNTY INDIANA NECA-IBEW HEAL… - Form 990 Financial Data

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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

1952

Legal Domicile

Principal Officer

FELIPE HERNANDEZ

Phone

2198454433

Tax Period

2024-01-01 to 2024-12-31

LAKE COUNTY INDIANA NECA-IBEW HEALTH AND BENEFIT PLAN, founded in 1952, is a mid-sized nonprofit that reported $29.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Net assets of $120.1M represent 49 months of operating reserves.

Mission

PROVIDE HEALTH BENEFITS

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH AND WELFARE BENEFITS AND LIFE INSURANCE TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS IN ACCORDANCE WITH PLAN PROVISIONS.

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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 $25,405,468

Investment Income $3,719,070

Other Revenue $206

TOTAL REVENUE $29,124,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $385,093

Fundraising Expenses $0

Other Expenses $538,181

TOTAL EXPENSES $29,667,845

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,124,744	$26,682,981	+0.1%
Expenses	$29,667,845	$24,482,643	+0.2%
Net Income	$-543,101	$2,200,338	-1.2%

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

$244,666

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FELIPE HERNANDEZ	TRUSTEE	1.00	Director	$0	$66,084	$241,010
ED SHIKANY	TRUSTEE	1.00	Director	$0	$0	$0
TOM CORSIGLIA	TRUSTEE	1.00	Director	$0	$0	$0
RICK ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM B WALTON JR	TRUSTEE	1.00	Director	$0	$0	$0
ALEC DAVIS	TRUSTEE	1.00	Director	$0	$0	$0
DAN WALDROP	TRUSTEE	1.00	Director	$0	$0	$0
FRANK MIKOLAJCZYK	TRUSTEE	1.00	Director	$0	$1,348	$3,656

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	$29,124,744	$29,667,845	$120,424,428	$-543,101
2023	$26,682,981	$24,482,643	$116,003,789	$2,200,338
2022	$19,140,849	$20,684,176	$104,442,539	$-1,543,327
2021	$23,028,754	$21,452,545	$55,187,331	$1,576,209
2020	$22,180,465	$20,897,767	$51,861,990	$1,282,698
2019	$26,097,841	$24,782,183	$47,862,090	$1,315,658
2018	$23,056,989	$17,130,128	$43,818,270	$5,926,861

LAKE COUNTY INDIANA NECA-IBEW HEALTH AND BENEFIT PLAN