IBEW LOCAL UNION NO 22NECA HEALTH & WELFARE FUND (EIN 470462667) - 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

1960

Legal Domicile

Principal Officer

BARRY MAYFIELD

Phone

4025923753

Tax Period

2024-01-01 to 2024-12-31

IBEW LOCAL UNION NO 22NECA HEALTH & WELFARE FUND, founded in 1960, is a mid-sized nonprofit that reported $37.6M in total revenue in fiscal year 2024.

Mission

PROVIDE HEALTH & WELFARE BENEFITS FOR MEMBERS OF THE PLAN. THE PLAN IS A COLLECTIVELY BARGAINED, MULTIEMPLOYER PLAN.

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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 $34,739,741

Investment Income $2,893,329

Other Revenue $10,898

TOTAL REVENUE $37,643,968

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $832,370

TOTAL EXPENSES $37,891,766

Year-over-Year Comparison

	2024	2023	Change
Revenue	$37,643,968	$38,441,525	0.0%
Expenses	$37,891,766	$35,835,186	+0.1%
Net Income	$-247,798	$2,606,339	-1.1%

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

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
BARRY MAYFIELD	CHAIRMAN	N/A	Officer Director	$0	$0	$0
TOM FALCON	SECRETARY	N/A	Officer Director	$0	$0	$0
JAY IGNOWSKI	TRUSTEE	N/A	Director	$0	$0	$0
MIKE BUNACH	TRUSTEE	N/A	Director	$0	$0	$0
STEVE MAYFIELD	TRUSTEE	N/A	Director	$0	$0	$0
JEFF MEURRENS	TRUSTEE	N/A	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	$37,643,968	$37,891,766	$57,829,526	$-247,798
2023	$38,441,525	$35,835,186	$53,652,030	$2,606,339
2022	$33,536,374	$32,703,827	$47,842,482	$832,547
2021	$31,476,631	$29,535,119	$50,938,430	$1,941,512
2020	$33,234,489	$26,796,392	$47,311,766	$6,438,097
2019	$32,612,831	$31,455,475	$40,638,168	$1,157,356
2018	$28,086,877	$25,960,951	$32,707,358	$2,125,926

IBEW LOCAL UNION NO 22NECA HEALTH & WELFARE FUND