IBEW 292 HEALTH CARE PLAN

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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

1980

Legal Domicile

Principal Officer

JENNIFER MUDGE

Phone

7634938830

Tax Period

2024-05-01 to 2025-04-30

IBEW 292 HEALTH CARE PLAN, founded in 1980, is a mid-sized nonprofit that reported $86.2M in total revenue in fiscal year 2024. Expenses of $76.9M left a modest 11% surplus.

Mission

TO PROVIDE HEALTH CARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR BENEFICIARIES.

Program Service Accomplishments

Program 1

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS OR BENEFICIARIES UNDER THE TERMS OF THE PLAN DOCUMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $80,045,214

Investment Income $6,108,874

Other Revenue $55,354

TOTAL REVENUE $86,209,442

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,016,470

Fundraising Expenses $0

Other Expenses $1,356,066

TOTAL EXPENSES $76,874,338

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,209,442	$80,190,508	+0.1%
Expenses	$76,874,338	$69,027,783	+0.1%
Net Income	$9,335,104	$11,162,725	-0.2%

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

167

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

$204,264

Total Directors

$1,174,873

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY HEIMERL	LABOR TRUSTEE	0.50	Director	$0	$68,203	$258,865
DAN FERGUSON	LABOR TRUSTEE - CHAIRMAN	2.00	Officer Director	$0	$58,426	$204,264
JENNIFER MUDGE	LABOR TRUSTEE	2.00	Director	$0	$61,558	$218,406
JOHN KRIPOTOS	LABOR TRUSTEE - ALTERNATE	2.00	Director	$0	$58,426	$204,264
KRISTIN CAUSBY	MANAGEMENT TRUSTEE	1.00	Director	$0	$52,758	$289,074
JERRY HEIN	MANAGEMENT TRUSTEE - SECRE	0.50	Officer Director	$0	$0	$0
LAURA KAROW	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
RYAN MORRIS	MANAGEMENT TRUSTEE - ALTERNATE	1.00	Director	$0	$0	$0
CARLA GRUETZMACHER	ADMINISTRATIVE MANAGER	36.00	Highest	$172,975	$43,503	$216,478
ANN KELLEN	FINANCE MANAGER	20.00	Highest	$143,707	$40,260	$183,967

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	$86,209,442	$76,874,338	$215,812,014	$9,335,104
2024	$80,190,508	$69,027,783	$200,546,784	$11,162,725
2023	$72,822,692	$64,468,222	$189,190,377	$8,354,470
2022	$76,280,696	$63,414,251	$177,979,838	$12,866,445
2022	$74,589,910	$62,241,102	$175,891,632	$12,348,808
2021	$72,168,030	$57,533,853	$175,025,978	$14,634,177
2020	$78,358,570	$63,330,456	$154,174,573	$15,028,114
2019	$77,143,242	$71,711,147	$130,398,771	$5,432,095