ESCANABA PAPER COMPANY UNION RETIREMENT INSURANCE TRUST FUND

EIN: 382821140

ESCANABA, MI

Total Revenue
$235,628
Total Expenses
$462,236
Total Assets
$5,316,925
Net Assets
$5,304,825
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
MI
Principal Officer
SEAN REESE
Phone
9067866151
Tax Period
2023-01-01 to 2023-12-31

ESCANABA PAPER COMPANY UNION RETIREMENT INSURANCE TRUST FUND, founded in 1988, is a small nonprofit that reported $236K in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $462K exceeded revenue, resulting in a 96% operating deficit.

Mission

DEFRAY THE COST OF RETIREES INSURANCE PREMIUMS

Program Service Accomplishments

Program 1
Expenses: $462,236

THE FUND WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ASSISTANCE IN PAYING CERTAIN INSURANCE PREMIUMS FOR ELIGIBLE RETIREES. ACTIVE EMPLOYEES HIRED ON OR BEFORE JULY 1, 2019 CONTRIBUTE 15 PER MONTH...

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THE FUND WAS ESTABLISHED FOR THE PURPOSE OF PROVIDING ASSISTANCE IN PAYING CERTAIN INSURANCE PREMIUMS FOR ELIGIBLE RETIREES. ACTIVE EMPLOYEES HIRED ON OR BEFORE JULY 1, 2019 CONTRIBUTE 15 PER MONTH TO THE FUND FOR SEVEN YEARS. BENEFIT PAYMENTS ARE PAID TO HELP COVER THE COST OF RETIREES' INSURANCE PREMIUMS. AS OF DECEMBER 31, 2023 APPROXIMATELY 286 RETIREES ARE RECEIVING BENEFITS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $32,586
Investment Income $203,042
Other Revenue $0
TOTAL REVENUE $235,628

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $462,236
Other Expenses $84,300
TOTAL EXPENSES $462,236

Year-over-Year Comparison

2023 2022 Change
Revenue $235,628 $158,813 +0.5%
Expenses $462,236 $486,805 -0.1%
Net Income $-226,608 $-327,992 -0.3%
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

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MELVIN ANDERSON SECRETARY N/A
Officer Director
$0 $0 $0
BRIAN LESNIESKI TRUSTEE N/A
Director
$0 $0 $0
SEAN REESE CHAIRMAN N/A
Officer Director
$0 $0 $0
GUY TRUDELL TRUSTEE N/A
Director
$0 $0 $0
MYRON VANEFFEN TRUSTEE N/A
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 No data No data No data No data
2023 $235,628 $462,236 $5,316,925 $-226,608
2022 $158,813 $486,805 $5,142,252 $-327,992
2021 $447,309 $503,444 $6,348,184 $-56,135
2020 $257,228 $508,066 $6,120,911 $-250,838
2019 $204,209 $517,867 $5,910,411 $-313,658
2018 $574,471 $518,524 $5,372,225 $55,947
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