LOCAL 338 CHARITIES INC (EIN 471575944) - 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

2014

Legal Domicile

Principal Officer

JOHN R DURSO

Phone

5162941338

Tax Period

2023-01-01 to 2023-12-31

LOCAL 338 CHARITIES INC, founded in 2014, is a small nonprofit in the Human Services sector that reported $156K in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $247K exceeded revenue, resulting in a 58% operating deficit.

Mission

EXCELLENCE THROUGH PROVISION OF SCHOLARSHIPS TO MEMBERS AND DEPENDENTS OF MEMBERS OF LOCAL 338 RWDSU/UFCW WHO ENROLL IN ACCREDITED COLLEGE OR UNIVERSITY PROGRAMS.TO AID NEEDY MEMBERS OF LOCAL 338 WHO ARE IN NEED OF MEDICAL CARE, SUFFERING FROM HARDSHIP DUE TO AN EMERGENCY OR DISASTER, SUFFERING FROM MENTAL ILLNESS OR DRUG AND ALCHOHOL ABUSE.TO SUPPORT OTHER CHARITABLE ORGANIZATIONS IN THE AREA WHERE LOCAL 338 OPERATES.

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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 $188,935

Program Service Revenue $0

Investment Income $2,795

Other Revenue $-35,670

TOTAL REVENUE $156,060

Expense Breakdown

Grants Paid $236,116

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $245,616

Other Expenses $1,724

TOTAL EXPENSES $247,340

Year-over-Year Comparison

	2023	2022	Change
Revenue	$156,060	$195,062	-0.2%
Expenses	$247,340	$198,396	+0.2%
Net Income	$-91,280	$-3,334	+26.4%

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

$1,211,496

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN R DURSO	CHAIRMAN	0.50	Director	$0	$51,727	$399,008
JOSEPH FONTANO	TREASURER	0.50	Director	$0	$38,853	$260,035
NEIL GONZALVO	DIRECTOR	0.50	Director	$0	$38,887	$248,619
NIKKI KATEMAN	DIRECTOR	0.50	Director	$0	$28,953	$162,203
ROSALMA LAFONTAINE	DIRECTOR	0.50	Director	$0	$27,541	$141,631

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
2023	$156,060	$247,340	$245,716	$-91,280
2022	$195,062	$198,396	$336,996	$-3,334
2021	$213,189	$179,933	$340,331	$33,256
2020	$171,744	$186,244	$307,075	$-14,500
2019	$191,350	$162,068	$321,575	$29,282
2018	$187,619	$138,148	$292,293	$49,471

LOCAL 338 CHARITIES INC