GIG HARBOR FIREFIGHTERS UNION HEALTH & WELFARE TRUST (EIN 466220670) - 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

JON DOWER

Phone

2533078341

Tax Period

2023-11-01 to 2024-10-31

GIG HARBOR FIREFIGHTERS UNION HEALTH & WELFARE TRUST, founded in 2012, is a community nonprofit in the Mutual Benefit sector that reported $4.8M in total revenue in fiscal year 2023. The organization ran a surplus of $897K, a strong 19% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO QUALIFIED PARTICIPANTS INCLUDING ACTIVE AND RETIRED EMPLOYEES OF GIG HARBOR FIRE AND MEDIC ONE AND THEIR DEPENDENTS.

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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 $4,522,915

Investment Income $295,838

Other Revenue $0

TOTAL REVENUE $4,818,753

Expense Breakdown

Grants Paid $0

Salaries & Benefits $41,561

Fundraising Expenses $0

Other Expenses $333,148

TOTAL EXPENSES $3,921,512

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,818,753	$4,851,773	0.0%
Expenses	$3,921,512	$3,766,511	+0.0%
Net Income	$897,241	$1,085,262	-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

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

$40,552

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DUMAS	CHAIRMAN (OUTGOING)	5.00	Officer Director	$0	$0	$0
JON DOWER	CHAIRMAN	5.00	Officer Director	$0	$0	$0
ANTHONY CARR	SECRETARY/TREASURER	3.00	Director	$0	$0	$0
NICHOLAS MARTIN	TRUSTEE	3.00	Director	$0	$0	$0
JACOB FLICK	TRUSTEE	3.00	Director	$0	$0	$0
NICHOLAS TRUCKEY	TRUSTEE	3.00	Director	$0	$0	$0
JOEL SCHWARZ	GENERAL MANAGER/CONSULTANT	15.00	Officer	$40,552	$0	$40,552

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	$4,818,753	$3,921,512	$11,536,967	$897,241
2023	$4,851,773	$3,766,511	$9,881,243	$1,085,262
2022	$4,314,596	$4,128,635	$8,874,069	$185,961
2021	$3,802,450	$2,914,249	$8,971,672	$888,201
2020	$3,347,810	$2,239,242	$8,101,865	$1,108,568
2019	$3,514,872	$1,965,293	$7,021,853	$1,549,579
2018	$2,987,256	$2,134,480	$5,514,482	$852,776
2018	$2,863,866	$2,098,847	$5,481,188	$765,019
2018	$2,987,256	$2,134,480	$5,514,482	$852,776
2017	$2,815,321	$2,263,843	$4,790,369	$551,478

GIG HARBOR FIREFIGHTERS UNION HEALTH & WELFARE TRUST