ELECTRICAL WORKERS' INSURANCE FUND (EIN 381393235) - 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

E CRAIG YOUNG

Phone

5865759200

Tax Period

2023-10-01 to 2024-09-30

ELECTRICAL WORKERS' INSURANCE FUND, founded in 1951, is a mid-sized nonprofit that reported $81.5M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

THE FUND WAS ESTABLISHED BY COLLECTIVE-BARGAINING BETWEEN IBEW LOCAL 58 AND SMC NECA TO PROVIDE HEALTH INSURANCE TO MEMBER ELECTRICIANS AND THEIR FAMILIES. OVER 5,800 PARTICIPANTS AND 6,700 BENEFICIARIES & DEPENDENTS BENEFIT.

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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 $76,254,303

Investment Income $4,147,958

Other Revenue $1,058,025

TOTAL REVENUE $81,460,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,826,001

Fundraising Expenses $0

Program Expenses $80,320,439

Other Expenses $655,514

TOTAL EXPENSES $80,320,439

Year-over-Year Comparison

	2023	2022	Change
Revenue	$81,460,286	$71,557,544	+0.1%
Expenses	$80,320,439	$74,914,679	+0.1%
Net Income	$1,139,847	$-3,357,135	-1.3%

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

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

$1,134,314

Key Employees

$436,176

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
E CRAIG YOUNG	BENEFITS DIR	40.00	Key Emp	$381,950	$54,226	$436,176
THOMAS MITTELBRUN III	TRUSTEE-PAST	1.00	Director	$0	$13,265	$347,008
JASON HEAD	TRUSTEE	1.00	Director	$0	$42,790	$215,390
MICHELE DAVIS	ASST BENEFIT	40.00	Highest	$146,500	$54,226	$200,726
SARAH PADGETT	ASST BENEFIT	40.00	Highest	$144,524	$54,226	$198,750
JAMES PELTIER	TRUSTEE-PAST	1.00	Director	$0	$54,226	$198,303
KIMBERLY L'HEUREUX	TRUSTEE	1.00	Director	$0	$54,226	$187,938
JAMES SOOSIK	TRUSTEE	1.00	Director	$0	$57,903	$179,263
JESSICA CYPRUS	ACCOUNTANT	40.00	Highest	$102,625	$54,226	$156,851
JOSEPH DIEDERICHS	TRUSTEE	1.00	Director	$0	$1,585	$6,411
WILLIAM DARISH	TRUSTEE	1.00	Director	$1	$0	$1
JOHN FULGENZI	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN WELLEIN	TRUSTEE-PAST	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	$81,460,286	$80,320,439	$130,217,795	$1,139,847
2023	$71,557,544	$74,914,679	$117,212,126	$-3,357,135
2022	$68,169,519	$80,453,786	$116,743,613	$-12,284,267
2021	$72,595,227	$74,072,803	$149,911,774	$-1,477,576
2020	$66,063,414	$66,174,969	$146,791,234	$-111,555
2019	$65,304,291	$55,922,974	$139,109,653	$9,381,317
2018	$72,287,597	$64,634,393	$126,749,026	$7,653,204

ELECTRICAL WORKERS' INSURANCE FUND