MICHIGAN GLASS & GLAZING INDUSTRY WELFARE INSURANCE PLAN (EIN 386058023) - 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

1961

Legal Domicile

Principal Officer

Don Stepp

Phone

2488139800

Tax Period

2023-12-01 to 2024-11-30

MICHIGAN GLASS & GLAZING INDUSTRY WELFARE INSURANCE PLAN, founded in 1961, is a community nonprofit that reported $6.0M in total revenue in fiscal year 2023.

Mission

To provide health care coverage to eligible participants in a multiemployer collectively bargained plan.

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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 $5,243,610

Investment Income $293,839

Other Revenue $483,739

TOTAL REVENUE $6,021,188

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,325,347

Other Expenses $222,129

TOTAL EXPENSES $6,325,347

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,021,188	$5,590,696	+0.1%
Expenses	$6,325,347	$5,876,323	+0.1%
Net Income	$-304,159	$-285,627	+0.1%

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

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

Total Directors

$234,516

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Gonzalez	Trustee	1.00	Director	$0	$0	$127,462
Frank	Tate Jr.	1.00	Director	$0	$0	$0
Donald Stepp	Trustee	1.00	Director	$0	$0	$107,054
Christian Speight	Trustee	1.00	Director	$0	$0	$0
Steve Hohenshil	Trustee	1.00	Director	$0	$0	$0
Gary Oberlander	Trustee	1.00	Director	$0	$0	$0
John Griffin	Trustee	1.00	Director	$0	$0	$0
Ross Winiemko	Trustee	40.00	Director	$0	$0	$0
Keith Shannon	Trustee	40.00	Director	$0	$0	$0
Jeremy Shannon	Trustee	40.00	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	$6,021,188	$6,325,347	$8,814,808	$-304,159
2023	$5,590,696	$5,876,323	$8,444,503	$-285,627
2022	$4,144,008	$5,116,881	$8,263,313	$-972,873
2021	$5,414,184	$6,115,383	$9,322,867	$-701,199
2020	$5,487,789	$4,601,466	$9,387,866	$886,323
2020	$5,180,760	$4,578,863	$9,868,566	$601,897
2019	$5,487,789	$4,601,466	$9,387,866	$886,323
2018	$4,750,014	$5,117,711	$8,695,588	$-367,697

MICHIGAN GLASS & GLAZING INDUSTRY WELFARE INSURANCE PLAN