FINISHING TRADES INSTITUTE OF MIDW… - 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

1977

Legal Domicile

Principal Officer

CARL FARRELL

Phone

3146473327

Tax Period

2023-07-01 to 2024-06-30

FINISHING TRADES INSTITUTE OF MIDWEST TRUST, founded in 1977, is a community nonprofit in the Employment sector that reported $2.1M in total revenue in fiscal year 2023. Net assets of $5.0M represent 29 months of operating reserves.

Mission

TRAINING PROGRAMS FOR THE HEALTH AND SAFTY OF THE MEMBERS OF THE INTERNATIONAL BROTHERHOOD OF PAINTERS AND ALLIED TRADES

Program Service Accomplishments

Program 1

Expenses: $1,969,210 Revenue: $2,061,553

TRAINING PROGRAMS FOR THE HEALTH AND SAFTY OF THE MEMBERS OF THE INTERNATIONAL BROTHERHOOD OF PAINTERS AND ALLIED TRADES

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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 $1,834,200

Investment Income $122,023

Other Revenue $105,330

TOTAL REVENUE $2,061,553

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,181,355

Fundraising Expenses $0

Program Expenses $1,969,210

Other Expenses $982,963

TOTAL EXPENSES $2,164,318

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,061,553	$2,030,540	+0.0%
Expenses	$2,164,318	$2,058,629	+0.1%
Net Income	$-102,765	$-28,089	+2.7%

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

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
OTTO SCHOENBERG	UNION TRUSTEE	1.00	Director	$0	$0	$0
JOE MUELLER	UNION TRUSTEE	1.00	Director	$0	$0	$0
CARL FARRELL	UNION TRUSTEE	1.00	Director	$0	$0	$0
ANDY RUZI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL SMITH	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ADAM MOORE	EMPLOYER TRUSTEE	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
2025	No data	No data	No data	No data
2024	$2,061,553	$2,164,318	$6,628,126	$-102,765
2023	$2,030,540	$2,058,629	$6,737,580	$-28,089
2022	$1,790,910	$1,897,375	$6,795,410	$-106,465
2021	$1,760,528	$1,805,413	$7,018,081	$-44,885
2019	$1,601,401	$1,591,476	$7,297,759	$9,925
2018	$1,550,502	$1,566,196	$7,300,459	$-15,694

FINISHING TRADES INSTITUTE OF MIDWEST TRUST