IRON WORKERS LOCAL UNION NO 22 RETIREE INSURANCE TRUST FUND (EIN 352049855) - 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

1998

Legal Domicile

Principal Officer

CODY BATES

Phone

3172438222

Tax Period

2024-06-01 to 2025-05-31

IRON WORKERS LOCAL UNION NO 22 RETIREE INSURANCE TRUST FUND, founded in 1998, is a community nonprofit in the Mutual Benefit sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $494K, a strong 39% operating margin.

Mission

TO PROVIDE PREMIUM SUPPLEMENT FOR GROUP MEDICAL INSURANCE FOR RETIRED UNION MEMBERS OF IRON WORKERS LOCAL UNION NO. 22

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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 $790,001

Investment Income $477,114

Other Revenue $0

TOTAL REVENUE $1,267,115

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $82,867

TOTAL EXPENSES $773,126

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,267,115	$803,123	+0.6%
Expenses	$773,126	$562,607	+0.4%
Net Income	$493,989	$240,516	+1.1%

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

N/A

Volunteers

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
CODY BATES	TRUSTEE	5.00	Director	$0	$0	$0
SCOTT BULLERDICK	TRUSTEE	1.00	Director	$0	$0	$0
WILL ERWIN	TRUSTEE	1.00	Director	$0	$0	$0
JOHN WHITAKER	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
2025	$1,267,115	$773,126	$2,690,449	$493,989
2024	$803,123	$562,607	$2,594,281	$240,516
2023	$545,021	$474,058	$2,074,688	$70,963
2022	$768,565	$449,537	$2,061,787	$319,028
2021	$522,595	$449,020	$2,006,726	$73,575
2020	$563,789	$449,735	$1,594,944	$114,054
2019	$442,296	$482,140	$1,465,006	$-39,844
2018	$458,743	$458,992	$1,518,930	$-249

IRON WORKERS LOCAL UNION NO 22 RETIREE INSURANCE TRUST FUND