CENTRAL STATES JOINT BOARD HEALTH & WELFARE TRUST FUND (EIN 362376645) - 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

1955

Legal Domicile

Principal Officer

MARK SPANO

Phone

3127380822

Tax Period

2024-01-01 to 2024-12-31

CENTRAL STATES JOINT BOARD HEALTH & WELFARE TRUST FUND, founded in 1955, is a mid-sized nonprofit that reported $70.3M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $66.2M left a modest 6% surplus.

Mission

TO PROVIDE MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 $65,861,058

Investment Income $4,408,083

Other Revenue $36,212

TOTAL REVENUE $70,305,353

Expense Breakdown

Grants Paid $0

Salaries & Benefits $582,101

Fundraising Expenses $0

Other Expenses $1,496,323

TOTAL EXPENSES $66,198,827

Year-over-Year Comparison

	2024	2023	Change
Revenue	$70,305,353	$62,018,578	+0.1%
Expenses	$66,198,827	$64,506,881	+0.0%
Net Income	$4,106,526	$-2,488,303	-2.7%

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

N/A

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

$651,149

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP SITKOWSKI	TRUSTEE	1.00	Director	$0	$44,460	$132,721
ANTHONY IORI	TRUSTEE / FUND ADMINISTRATOR	1.00	Director	$0	$142,017	$332,215
MARK SPANO	CHAIRMAN	1.00	Director	$0	$-20,091	$186,213
GARY FAIRHEAD	TRUSTEE	1.00	Director	$0	$0	$0
NORMAN SOEP	TRUSTEE	1.00	Director	$0	$0	$0
SHELDON ROSEN	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	$70,305,353	$66,198,827	$80,834,468	$4,106,526
2023	$62,018,578	$64,506,881	$74,084,552	$-2,488,303
2022	$61,811,657	$58,568,107	$72,138,647	$3,243,550
2021	$65,470,058	$63,389,807	$76,841,141	$2,080,251
2020	$69,516,053	$67,448,638	$72,640,787	$2,067,415
2019	$73,629,403	$72,210,701	$68,514,190	$1,418,702
2018	$78,647,735	$71,790,276	$62,361,199	$6,857,459

CENTRAL STATES JOINT BOARD HEALTH & WELFARE TRUST FUND