National Railway Labor Conference

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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

1963

Legal Domicile

Principal Officer

JEFFREY F RODGERS

Phone

5713367600

Tax Period

2025-01-01 to 2025-12-31

National Railway Labor Conference, founded in 1963, is a mid-sized nonprofit that reported $10.8M in total revenue in fiscal year 2025. Revenue decreased 6% compared to the prior year. Expenses of $9.4M left a modest 13% surplus.

Mission

NATIONAL REPRESENTATION OF RAILROAD INDUSTRY. REPRESENTS PARTICIPATING RAILROADS IN MATTERS INVOLVING RAILROAD LABOR RELATIONS, INCLUDING MULTIEMPLOYER COLLECTIVE BARGAINING WITH VARIOUS LABOR ORGANIZATIONS.

Program Service Accomplishments

Program 1

REPRESENTATION OF PARTICIPATING RAILROADS IN NEGOTIATIONS WITH PARTICIPATING LABOR ORGANIZATIONS IN CONNECTION WITH RATES OF PAY, RULES, AND WORKING CONDITIONS ON A NATIONAL BASIS.

Program 2

MANAGEMENT AND OPERATION OF COLLECTIVELY BARGAINED NATIONAL RAILROAD EMPLOYEE BENEFIT PLANS.

Program 3

RESEARCH, INTERPRETATION, AND DISSEMINATION OF INFORMATION AND/OR ADVICE RELATIVE TO NATIONAL AND LOCAL AGREEMENTS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,525,700

Investment Income $238,892

Other Revenue $47,283

TOTAL REVENUE $10,811,875

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,630,516

Fundraising Expenses $0

Other Expenses $4,761,206

TOTAL EXPENSES $9,391,722

Year-over-Year Comparison

	2025	2024	Change
Revenue	$10,811,875	$11,498,365	-0.1%
Expenses	$9,391,722	$10,533,432	-0.1%
Net Income	$1,420,153	$964,933	+0.5%

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

$1,222,019

Total Directors

$992,130

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeffrey Rodgers	CHAIR	39.0	Officer Director	$864,522	$127,608	$992,130
MICHAEL MARATTO	GENERAL COUNSEL	40.0	Highest	$496,008	$92,943	$588,951
KRISTIN BECKNER	DIR. OF LABOR RELATIONS	40.0	Highest	$294,237	$86,478	$380,715
PAUL WINTERS	DIRECTOR-BENEFITS	8.0	Highest	$269,281	$94,757	$364,038
MICHAEL CORBRIDGE	DIR. OF FINANCE ANALYSIS	40.0	Highest	$249,920	$36,035	$285,955
JEANIE BARRERE	DIR. OF LABOR RELATIONS	40.0	Highest	$236,405	$45,429	$281,834
Stephanie Deiger	VICE CHAIR EFF. 6/1/2025	40.0	Officer	$195,575	$34,314	$229,889
Katie Farmer	DIRECTOR	2.0	Director	$0	$0	$0
Jim Vena	DIRECTOR	2.0	Director	$0	$0	$0
Tracy Robinson	DIRECTOR	2.0	Director	$0	$0	$0
Joseph Hinrichs	DIRECTOR Thru 9/28/2025	2.0	Director	$0	$0	$0
Steve Angel	DIRECTOR EFF. 9/28/2025	2.0	Director	$0	$0	$0
Mark R George	DIRECTOR	2.0	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	$10,811,875	$9,391,722	$11,149,448	$1,420,153
2024	$11,498,365	$10,533,432	$9,729,295	$964,933
2023	$10,783,560	$9,035,161	$8,764,362	$1,748,399
2022	$17,719,627	$15,963,645	$7,015,963	$1,755,982
2021	$12,455,580	$10,355,649	$5,259,981	$2,099,931
2020	$9,622,230	$10,187,506	$3,160,050	$-565,276