IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND (EIN 454955344) - 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

2012

Legal Domicile

Principal Officer

DANIEL COSNER

Phone

6097181323

Tax Period

2024-01-01 to 2024-12-31

IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND, founded in 2012, is a mid-sized nonprofit in the Mutual Benefit sector that reported $14.8M in total revenue in fiscal year 2024.

Mission

PROVIDE SUPPLEMENTAL GROUP HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

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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 $14,251,304

Investment Income $594,984

Other Revenue $0

TOTAL REVENUE $14,846,288

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,429,289

Other Expenses $354,155

TOTAL EXPENSES $15,783,444

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,846,288	$14,480,525	+0.0%
Expenses	$15,783,444	$14,631,681	+0.1%
Net Income	$-937,156	$-151,156	+5.2%

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

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

$1,258,430

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL COSNER	Trustee	1.00	Director	$0	$166,574	$457,364
CHARLES DELLA VECCHIA	Trustee	1.00	Director	$0	$150,793	$403,653
ROY FOSTER	Trustee	1.00	Director	$0	$144,553	$397,413
JEFFREY HOUDE	Trustee	1.00	Director	$0	$0	$0
JOSEPH KNECHT JR	Trustee	1.00	Director	$0	$0	$0
THOMAS PETERSON	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	$14,846,288	$15,783,444	$18,743,445	$-937,156
2023	$14,480,525	$14,631,681	$19,159,807	$-151,156
2022	$13,738,595	$12,283,831	$21,041,480	$1,454,764
2021	$10,730,744	$11,187,486	$19,386,317	$-456,742
2020	$12,172,851	$10,814,081	$20,250,037	$1,358,770
2019	$10,834,621	$9,197,843	$17,289,324	$1,636,778
2018	$10,188,927	$10,694,931	$15,332,955	$-506,004

IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND