INTERNATIONAL BROTHERHOOD OF ELETRL WORKERS HLTH & WLFR FND LOCAL 124 (EIN 440569165) - 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

1952

Legal Domicile

Principal Officer

KENNETH C BORDEN

Phone

8169430277

Tax Period

2023-09-01 to 2024-08-31

INTERNATIONAL BROTHERHOOD OF ELETRL WORKERS HLTH & WLFR FND LOCAL 124, founded in 1952, is a mid-sized nonprofit that reported $59.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $55.2M left a modest 7% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE MEMBERS OF THE I.B.E.W. LOCAL UNION NO. 124, THEIR DEPENDENTS AND BENEFICIARIES AND CERTAIN NONMEMBER EMPLOYEES OF CONTRIBUTING 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $56,032,277

Investment Income $1,161,126

Other Revenue $2,361,298

TOTAL REVENUE $59,554,701

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,205,425

TOTAL EXPENSES $55,243,165

Year-over-Year Comparison

	2023	2022	Change
Revenue	$59,554,701	$54,439,993	+0.1%
Expenses	$55,243,165	$49,472,284	+0.1%
Net Income	$4,311,536	$4,967,709	-0.1%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH C BORDEN	CHAIRMAN, TRUSTEE	2.00	Officer Director	$0	$0	$0
BO MORENO	SECRETARY, TRUSTEE	2.00	Officer Director	$0	$0	$0
TODD HOWERTON	TRUSTEE	1.00	Director	$0	$0	$0
DONALD G LAFFOON	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL QUARLES	TRUSTEE	1.00	Director	$0	$0	$0
NANCY LOVE	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
2024	$59,554,701	$55,243,165	$65,260,087	$4,311,536
2023	$54,439,993	$49,472,284	$57,166,919	$4,967,709
2022	$47,862,735	$44,568,361	$53,387,788	$3,294,374
2021	$43,081,822	$42,085,727	$53,905,804	$996,095
2020	$43,318,645	$38,674,228	$51,735,206	$4,644,417
2018	$40,362,812	$43,029,143	$42,744,538	$-2,666,331

INTERNATIONAL BROTHERHOOD OF ELETRL WORKERS HLTH & WLFR FND LOCAL 124