Michigan Trowel Trades Health and … - Form 990 Financial Data

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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

1971

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

Michigan Trowel Trades Health and Welfare Fund, founded in 1971, is a community nonprofit in the Employment sector that reported $7.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

Provide health care benefits to eligible plan participants

Program Service Accomplishments

Program 1

Expenses: $6,955,004

To provide health care benefits to participants and their dependents. These benefits included health, vision, prescription drug, life insurance and accidental death and dismemberment coverage.

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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 $8,096,252

Investment Income $-291,588

Other Revenue $23,390

TOTAL REVENUE $7,828,054

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,955,004

Other Expenses $732,937

TOTAL EXPENSES $7,687,941

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,828,054	$6,946,613	+0.1%
Expenses	$7,687,941	$7,024,639	+0.1%
Net Income	$140,113	$-78,026	-2.8%

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

$726,851

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Stanfield	Chairman	1.00	Director	$0	$57,209	$153,048
Keino Walker	Trustee	1.00	Director	$0	$57,209	$153,048
Henry Williams	Trustee	1.00	Director	$0	$42,718	$150,820
Juan Hernandez	Trustee	1.00	Director	$0	$38,562	$136,148
Ryan Lance	Trustee	1.00	Director	$0	$38,152	$133,787
Josh Graves	Trustee	1.00	Director	$0	$0	$0
Tom Owens	Trustee	1.00	Director	$0	$0	$0
Rachelle VanDeventer	Trustee	1.00	Director	$0	$0	$0
Glenn Bukoski	Secretary	1.00	Director	$0	$0	$0
Larry Cowper	Trustee	1.00	Director	$0	$0	$0
James Malenich	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	No data	No data	No data	No data
2023	$7,828,054	$7,687,941	$9,840,077	$140,113
2022	$6,946,613	$7,024,639	$7,752,476	$-78,026
2021	$6,787,750	$7,570,170	$8,830,937	$-782,420
2020	$6,799,409	$5,852,388	$9,599,329	$947,021
2019	$6,942,744	$7,012,623	$8,162,380	$-69,879
2018	$6,610,712	$5,934,638	$7,486,723	$676,074

Michigan Trowel Trades Health and Welfare Fund