SHOPMEN'S LOCAL UNION NO 508 HEALT… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

MARTIN MARINACK

Phone

4128491271

Tax Period

2024-06-01 to 2025-05-31

SHOPMEN'S LOCAL UNION NO 508 HEALTH & WELFARE FUND, founded in 1971, is a small nonprofit that reported $578K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $804K exceeded revenue, resulting in a 39% operating deficit.

Mission

THE TRUST FUND IS CREATED, ESTABLISHED AND MAINTAINED FOR THE PURPOSE OF PROVIDING HEALTH, WELFARE, DEATH OR RELATED BENEFITS FOR EMPLOYEES AND THEIR DEPENDENTS AND BENEFICIARIES.

Program Service Accomplishments

Program 1

COLLECTION OF MONIES PURSUANT TO COLLECTIVE BARGAINING AGREEMENT FOR DISTRIBUTION FOR THE BENEFIT OF PARTICIPANTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $498,188

Investment Income $79,970

Other Revenue $0

TOTAL REVENUE $578,158

Expense Breakdown

Grants Paid $0

Salaries & Benefits $65,945

Fundraising Expenses $0

Other Expenses $111,748

TOTAL EXPENSES $803,639

Year-over-Year Comparison

	2024	2023	Change
Revenue	$578,158	$644,171	-0.1%
Expenses	$803,639	$747,816	+0.1%
Net Income	$-225,481	$-103,645	+1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIN MARINACK	CHAIRMAN	10.00	Officer Director	$0	$0	$0
JOE GLUCK	SECRETARY	10.00	Officer Director	$0	$0	$0
SHARATH MEKALA	ALT. TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL BAUMANN	TRUSTEE	1.00	Director	$0	$0	$0
WILLIE MITCHELL	TRUSTEE	1.00	Director	$0	$0	$0
JEANE CHAFFIN	ALT. 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
2025	$578,158	$803,639	$1,842,801	$-225,481
2024	$644,171	$747,816	$2,061,539	$-103,645
2023	$484,691	$649,621	$2,165,184	$-164,930
2022	$525,871	$592,549	$2,320,686	$-66,678
2021	$539,529	$547,673	$2,406,969	$-8,144
2020	$599,771	$593,121	$2,415,113	$6,650
2019	$726,524	$596,429	$2,409,810	$130,095

SHOPMEN'S LOCAL UNION NO 508 HEALTH & WELFARE FUND