International Brotherhood of Electrical Workers - Local Union 704 (EIN 420328998) - 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

1911

Legal Domicile

Principal Officer

Thomas W Townsend

Phone

5635825947

Tax Period

2024-01-01 to 2024-12-31

International Brotherhood of Electrical Workers - Local Union 704, founded in 1911, is a small nonprofit that reported $780K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

Union membership representation

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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 $781,562

Investment Income $7,990

Other Revenue $-9,247

TOTAL REVENUE $780,305

Expense Breakdown

Grants Paid $6,180

Salaries & Benefits $389,376

Fundraising Expenses $0

Other Expenses $371,227

TOTAL EXPENSES $766,783

Year-over-Year Comparison

	2024	2023	Change
Revenue	$780,305	$714,298	+0.1%
Expenses	$766,783	$722,498	+0.1%
Net Income	$13,522	$-8,200	-2.6%

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

Employees

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

$145,361

Total Directors

$4,370

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Pregler	Treasurer	2.00	Officer Director	$0	$0	$0
Spencer Pins	Vice President	2.00	Officer Director	$2,410	$1,039	$3,449
James D Vormezeele	President	2.00	Officer Director	$642	$279	$921
Michael Lynch	Recording Secretary	2.00	Officer Director	$0	$0	$0
Thomas W Townsend	Business Manager	44.00	Officer	$99,754	$41,237	$140,991

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	$780,305	$766,783	$304,629	$13,522
2023	$714,298	$722,498	$292,424	$-8,200
2022	$602,626	$666,604	$304,926	$-63,978
2021	$646,480	$629,315	$363,734	$17,165
2020	$669,594	$548,923	$344,815	$120,671
2019	$571,156	$639,108	$225,196	$-67,952
2018	$677,913	$663,375	$293,153	$14,538

International Brotherhood of Electrical Workers - Local Union 704