INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 324 HEALTH & WELFARE FUN (EIN 382243531) - 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

1984

Legal Domicile

Principal Officer

KEN DOMBROW

Phone

2486414915

Tax Period

2023-10-01 to 2024-09-30

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 324 HEALTH & WELFARE FUN, founded in 1984, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

HEALTH AND WELFARE TRUST FUND PROVIDING MEDICAL BENEFITS TO ELIGIBLE PARTICIPANTS AND 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,529,280

Investment Income $230,827

Other Revenue $97,853

TOTAL REVENUE $6,857,960

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $768,750

TOTAL EXPENSES $7,203,853

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,857,960	$7,916,885	-0.1%
Expenses	$7,203,853	$8,826,965	-0.2%
Net Income	$-345,893	$-910,080	-0.6%

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

N/A

Volunteers

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

$191,223

Total Directors

$620,754

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN DOMBROW	TRUSTEE	1.00	Director	$0	$75,632	$222,364
DOUGLAS STOCKWELL	SECRETARY	1.00	Officer Director	$0	$42,113	$191,223
KEVIN BESONEN	TRUSTEE	1.00	Director	$0	$70,321	$207,167
JOHN HEALY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
RUSSELL MCFEE	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH MARUT	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	$6,857,960	$7,203,853	No data	$-345,893
2023	$7,916,885	$8,826,965	$8,367,716	$-910,080
2022	$7,862,058	$9,388,989	$8,895,897	$-1,526,931
2021	$7,479,654	$7,535,889	$11,444,859	$-56,235
2020	$7,160,970	$6,856,899	$11,019,780	$304,071
2019	$7,393,709	$8,200,206	$10,412,646	$-806,497
2018	$7,074,887	$6,831,922	$11,203,122	$242,965

INTERNATIONAL UNION OF OPERATING ENGINEERS LOCAL 324 HEALTH & WELFARE FUN