CEDAR RAPIDS SHEET METAL WORKERS LOCAL 263 HEALTH & WELFARE FUND (EIN 426498548) - 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

1992

Legal Domicile

Principal Officer

KEVIN NEUENDORF

Phone

3193652810

Tax Period

2023-01-01 to 2023-12-31

CEDAR RAPIDS SHEET METAL WORKERS LOCAL 263 HEALTH & WELFARE FUND, founded in 1992, is a community nonprofit that reported $7.4M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $6.9M left a modest 7% surplus.

Mission

THIS PLAN PROVIDES HEALTH & WELFARE BENEFITS TO ITS ELIGIBLE MEMBERS OF LOCAL 263.

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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 $7,364,666

Investment Income $71,860

Other Revenue $0

TOTAL REVENUE $7,436,526

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,923,905

Other Expenses $1,674,015

TOTAL EXPENSES $6,923,905

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,436,526	$6,476,231	+0.1%
Expenses	$6,923,905	$5,793,381	+0.2%
Net Income	$512,621	$682,850	-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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN NEUENDORF	CHAIRMAN	1.00	Officer Director	$0	$0	$0
RANDY SCONYERS	SECRETARY - PART-YEAR	1.00	Officer Director	$0	$0	$0
JOHN ILTEN	SECRETARY - PART-YEAR	1.00	Officer Director	$0	$0	$0
RUSSELL JAEGER	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS HALL	TRUSTEE	1.00	Director	$0	$0	$0
RANDY NOVAK	TRUSTEE	1.00	Director	$0	$0	$0
VALERIE DERYCKE	TRUSTEE	1.00	Director	$0	$0	$0
JACOB RAMMELSBERG	TRUSTEE - ALTERNATE	1.00	Director	$0	$0	$0
KIM BEST	TRUSTEE - ALTERNATE	1.00	Director	$0	$0	$0
KATE WIERSON	TRUSTEE - ALTERNATE	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	$7,436,526	$6,923,905	$4,019,517	$512,621
2022	$6,476,231	$5,793,381	$3,497,398	$682,850
2021	$5,732,588	$5,788,398	$2,915,812	$-55,810
2020	$5,329,578	$5,028,260	$2,901,144	$301,318
2019	$5,372,860	$5,447,694	$2,549,524	$-74,834
2018	$4,961,282	$5,350,614	$2,530,645	$-389,332

CEDAR RAPIDS SHEET METAL WORKERS LOCAL 263 HEALTH & WELFARE FUND