STRUCTURAL IRON WORKERS LOCAL 1 WELFARE FUND (EIN 362196735) - 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

JOHN F GARDINER

Phone

7083661188

Tax Period

2023-01-01 to 2023-12-31

STRUCTURAL IRON WORKERS LOCAL 1 WELFARE FUND, founded in 1951, is a mid-sized nonprofit that reported $37.3M in total revenue in fiscal year 2018. Revenue decreased 5% compared to the prior year. Expenses of $35.8M left a modest 4% surplus.

Mission

TO PROVIDE PARTICIPANTS AND THEIR BENEFICIARIES BENEFITS AS DESCRIBED IN THE PLAN DOCUMENT.

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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 $36,662,653

Investment Income $2,159,241

Other Revenue $5,712

TOTAL REVENUE $38,827,606

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $784,061

TOTAL EXPENSES $40,699,891

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,827,606	$36,945,975	+0.1%
Expenses	$40,699,891	$36,244,978	+0.1%
Net Income	$-1,872,285	$700,997	-3.7%

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

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

$1,402,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID QUIN	EMPLOYER TRUSTEE	0.30	Director	$0	$0	$0
PATRICK CLARK	EMPLOYER TRUSTEE	0.30	Director	$0	$0	$0
MAUREEN ESPOSITO PAST	EMPLOYER TRUSTEE	0.30	Director	$0	$0	$0
CRAIG SATALIC PAST	UNION TRUSTEE	0.30	Director	$0	$111,065	$244,296
JOHN GARDINER	UNION TRUSTEE	0.30	Director	$0	$185,837	$407,825
TODD VILLA	UNION TRUSTEE	0.30	Director	$0	$175,474	$375,922
KEN DAVIS	UNION TRUSTEE	0.30	Director	$0	$174,176	$374,707
SAM TIPTON	EMPLOYER TRUSTEE	0.30	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	No data	No data	No data	No data
2023	$38,827,606	$40,699,891	$51,591,845	$-1,872,285
2022	$36,945,975	$36,244,978	$50,898,953	$700,997
2021	$49,515,997	$39,177,519	$58,161,512	$10,338,478
2020	$36,042,515	$38,790,641	$60,833,653	$-2,748,126
2019	$37,677,251	$43,166,430	$59,119,627	$-5,489,179
2018	$37,281,804	$35,781,024	$61,465,514	$1,500,780

STRUCTURAL IRON WORKERS LOCAL 1 WELFARE FUND