IBEW LOCAL UNION 461 WELFARE FUND

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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

1971

Legal Domicile

Principal Officer

KENNETH COOPER

Phone

3015564300

Tax Period

2020-06-01 to 2021-05-31

IBEW LOCAL UNION 461 WELFARE FUND, founded in 1971, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2020. Revenue decreased 8% compared to the prior year. Expenses of $14.4M exceeded revenue, resulting in a 121% operating deficit.

Mission

THE ORGANIZATION PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS OR ON BEHALF OF THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE ORGANIZATION PROVIDES HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS OR ON BEHALF OF THEIR DEPENDENTS.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,237,077

Investment Income $1,269,806

Other Revenue $0

TOTAL REVENUE $6,506,883

Expense Breakdown

Grants Paid $0

Salaries & Benefits $910

Fundraising Expenses $0

Other Expenses $9,076,021

TOTAL EXPENSES $14,371,800

Year-over-Year Comparison

	2020	2019	Change
Revenue	$6,506,883	$7,091,856	-0.1%
Expenses	$14,371,800	$6,848,607	+1.1%
Net Income	$-7,864,917	$243,249	-33.3%

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

$201,111

Total Directors

$386,131

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE ANDERSON	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOEL D PYLE II	SECRETARY	2.00	Officer Director	$0	$59,858	$201,111
MICHAEL ANGELO	TRUSTEE	2.00	Director	$0	$60,732	$183,721
STEVE MUSICH	TRUSTEE	2.00	Director	$0	$0	$0
TIM ASSELL	TRUSTEE	2.00	Director	$0	$0	$0
MARK SEPPELFRICK	TRUSTEE	2.00	Director	$0	$0	$1,299
THOMAS COOK	TRUSTEE	2.00	Director	$0	$0	$0
GIUSEPPE MUZZUPAPPA	TRUSTEE	2.00	Director	$0	$0	$0
KENNETH COOPER	SUCCESSOR UN	0.00	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
2021	$6,506,883	$14,371,800	No data	$-7,864,917
2020	$7,091,856	$6,848,607	$8,255,670	$243,249
2019	$7,571,683	$5,958,476	$8,187,918	$1,613,207
2018	$6,387,739	$5,967,335	$6,677,337	$420,404