HEAT & FROST INSULATORS LOCAL 17 T… - Form 990 Financial Data

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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

1968

Legal Domicile

Principal Officer

TOM MCGRATH

Phone

7084688000

Tax Period

2024-01-01 to 2024-12-31

HEAT & FROST INSULATORS LOCAL 17 TRAINING TRUST, founded in 1968, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Expenses of $1.3M left a modest 7% surplus.

Mission

TO ASSIST PARTICIPANTS IN OBTAINING TRAINING AND EDUCATION IN THE SKILLS NEEDED BY THE TRADE.

Program Service Accomplishments

Program 1

OPERATION OF APPRENTICE EDUCATION AND TRAINING PROGRAM FOR THE TRAINING OF INSULATORS AND ASBESTOS REMOVAL.

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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 $1,284,972

Investment Income $73,500

Other Revenue $2,360

TOTAL REVENUE $1,360,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $640,526

Fundraising Expenses $0

Other Expenses $620,798

TOTAL EXPENSES $1,261,324

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,360,832	$1,281,228	+0.1%
Expenses	$1,261,324	$1,185,106	+0.1%
Net Income	$99,508	$96,122	+0.0%

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

$295,729

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN LINDSEY	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS MCGRATH	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN KEANE	TRUSTEE	2.00	Director	$0	$0	$0
KEVIN CARLSON	TRUSTEE	2.00	Director	$0	$0	$0
JOHN LENOS	TRUSTEE	2.00	Director	$0	$0	$0
BRAD LUSE	TRUSTEE	2.00	Director	$0	$0	$0
KEVIN FALLS	TRUSTEE	2.00	Director	$0	$0	$0
JIM MCMANUS	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN CRAVEN	COORDINATOR	45.00	Officer	$177,351	$118,378	$295,729
BENJAMIN FRANK	INSTRUCTOR	40.00	Highest	$159,684	$88,284	$247,968

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	$1,360,832	$1,261,324	$2,143,785	$99,508
2023	$1,281,228	$1,185,106	$1,906,432	$96,122
2022	$1,161,500	$1,287,759	$1,642,996	$-126,259
2021	$1,200,250	$1,128,703	$2,050,166	$71,547
2020	$984,313	$1,067,428	$1,888,256	$-83,115

HEAT & FROST INSULATORS LOCAL 17 TRAINING TRUST