INTERNATIONAL ASSOCIATION OF HEAT … - 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

1903

Legal Domicile

Principal Officer

GARY PAYEUR

Phone

3142917399

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL ASSOCIATION OF HEAT AND FROST INSULATORS & ASBESTOS WORKERS # 1, founded in 1903, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2024.

Mission

LABOR UNION FORMED FOR THE PURPOSE OF PROTECTING THE RIGHTS AND ADVANCING THE INTERESTS OF ITS MEMBERS CONCERNING WAGES, BENEFITS, AND WORKING CONDITIONS.

Program Service Accomplishments

Program 1

THE UNION PROVIDES FOR MANAGEMENT WHO NEGOTIATES MEMBER WAGE RATES, VACATION TIME, WORK HOURS, WORKING CONDITIONS AND OTHER BENEFITS.

Program 2

THE APPRENTICE PROGRAM PROVIDES TRAINING FOR APPRENTICE MEMBERS

Program 3

THE AIM PROGRAM PROVIDES ASSISTANCE TO BUSINESSES WHO ARE UNION EMPLOYERS.

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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 $2,739,021

Investment Income $177,993

Other Revenue $35,138

TOTAL REVENUE $2,952,152

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,221,228

Fundraising Expenses $0

Other Expenses $1,904,025

TOTAL EXPENSES $3,125,253

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,952,152	$2,746,687	+0.1%
Expenses	$3,125,253	$3,372,959	-0.1%
Net Income	$-173,101	$-626,272	-0.7%

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

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

$395,009

Total Directors

$153,070

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOMINIC PAVIA	DELEGATE	1.00	Director	$3,600	$0	$3,600
BRAD ACKMAN	ORGANIZER	40.00	Director	$96,051	$53,419	$149,470
GARY PAYEUR	BUSINESS MANAGER	40.00	Officer	$136,994	$53,419	$190,413
GERALD MCATEE	FINANCIAL SECRETARY	40.00	Officer	$130,703	$53,419	$184,122
DAN HENNESSEY	BUSINESS AGENT	40.00	Officer	$1,691	$0	$1,691
MICHAEL FARRELL	PRESIDENT - NEW	1.00	Officer	$15,183	$0	$15,183
ROBERT ACKMAN	DELEGATE	1.00	Officer	$3,600	$0	$3,600

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	No data	No data	No data	No data
2024	$2,952,152	$3,125,253	$5,244,700	$-173,101
2023	$2,746,687	$3,372,959	$5,276,628	$-626,272
2022	$2,877,942	$2,971,202	$5,669,339	$-93,260
2021	$2,632,137	$2,465,579	$5,879,597	$166,558
2020	$2,039,462	$2,241,469	$5,653,187	$-202,007
2019	$2,590,067	$2,408,631	$5,837,294	$181,436
2018	$2,416,800	$2,470,782	$5,639,539	$-53,982

INTERNATIONAL ASSOCIATION OF HEAT AND FROST INSULATORS & ASBESTOS WORKERS # 1