MINNESOTA TEAMSTERS JOINT COUNCIL NO 32 HEALTH AND WELFARE FUND

EIN: 411459141

MINNEAPOLIS, MN

Total Revenue
$488,577
Total Expenses
$512,875
Total Assets
$2,222,847
Net Assets
$1,931,300
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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
1983
Legal Domicile
MN
Principal Officer
TOM ERICKSON
Phone
6123316767
Tax Period
2024-01-01 to 2024-12-31

MINNESOTA TEAMSTERS JOINT COUNCIL NO 32 HEALTH AND WELFARE FUND, founded in 1983, is a small nonprofit that reported $489K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Net assets of $1.9M represent 47 months of operating reserves.

Mission

TO PROVIDE SEVERANCE PAY AND SUPPLEMENTAL LIFE INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.

Program Service Accomplishments

Program 1

PAYMENT OF SEVERANCE PAY AND SUPPLEMENTAL LIFE INSURANCE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS PROVIDED BY THE SUMMARY PLAN DESCRIPTION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $343,679
Investment Income $144,898
Other Revenue $0
TOTAL REVENUE $488,577

Expense Breakdown

Grants Paid $0
Salaries & Benefits $29,313
Fundraising Expenses $0
Other Expenses $38,829
TOTAL EXPENSES $512,875

Year-over-Year Comparison

2024 2023 Change
Revenue $488,577 $442,494 +0.1%
Expenses $512,875 $445,418 +0.2%
Net Income $-24,298 $-2,924 +7.3%
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
7
Independent Members
N/A
Employees
16
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
0
$0
Total Directors
8
$125,933
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOM ERICKSON PRESIDENT 1.00
Director
$0 $4,562 $28,562
TREVOR LAWRENCE SECRETARY-TREASURER - PAST 1.00
Director
$0 $1,653 $1,653
ZACHARY RADZAK TRUSTEE 1.00
Director
$0 $0 $12,000
KRISTOPHER KNIGHT TRUSTEE 1.00
Director
$0 $0 $12,000
BRIAN ALDES SECRETARY-TREASURER 1.00
Director
$0 $4,704 $27,539
MICHAEL DEBUCK VICE PRESIDENT 1.00
Director
$0 $3,052 $20,929
JESSE CASE RECORDING SECRETARY 1.00
Director
$0 $0 $13,350
SCOTT LECY TRUSTEE 1.00
Director
$0 $0 $9,900
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 $488,577 $512,875 $2,222,847 $-24,298
2023 $442,494 $445,418 $2,195,893 $-2,924
2022 $365,529 $419,357 $1,994,590 $-53,828
2021 $467,009 $294,890 $2,330,974 $172,119
2020 $401,113 $288,906 $2,050,744 $112,207
2019 $491,674 $387,408 $1,810,862 $104,266
2018 $433,912 $321,540 $1,606,460 $112,372
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