CORRECTION OFFICERS' BENEVOLENT ASSOC SECURITY BENEFITS FUND - RETIREES (EIN 510183172) - 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

1968

Legal Domicile

Principal Officer

ANGEL CASTRO

Phone

2122748000

Tax Period

2023-01-01 to 2023-12-31

CORRECTION OFFICERS' BENEVOLENT ASSOC SECURITY BENEFITS FUND - RETIREES, founded in 1968, is a mid-sized nonprofit that reported $20.1M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ALL ELIGIBLE MEMBERS.

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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 $19,017,614

Investment Income $71,698

Other Revenue $1,030,035

TOTAL REVENUE $20,119,347

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,074,263

TOTAL EXPENSES $21,909,068

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,119,347	$21,497,894	-0.1%
Expenses	$21,909,068	$20,903,930	+0.0%
Net Income	$-1,789,721	$593,964	-4.0%

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

$1,483,045

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BENNY BOSCIO JR	CHAIRMAN	1.00	Director	$0	$0	$213,797
GLENN MORGAN	TRUSTEE	1.00	Director	$0	$0	$118,041
KEISHA WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$114,472
LIONEL CUMBERBATCH	TRUSTEE	1.00	Director	$0	$0	$104,439
HERMAN JIMINIAN	TRUSTEE	1.00	Director	$0	$0	$102,078
ANTIONETTE ANDERSON	TRUSTEE	1.00	Director	$0	$0	$104,524
FELIX SANCHEZ	TRUSTEE	1.00	Director	$0	$0	$104,389
ASHAKI ANTOINE	TRUSTEE	1.00	Director	$0	$0	$98,846
CHARLES WINGATE	TRUSTEE	1.00	Director	$0	$0	$78,129
EDWARD YATES	TRUSTEE	1.00	Director	$0	$0	$79,762
MATTHEW ROMANO	TRUSTEE	1.00	Director	$0	$0	$77,730
NEIL RENIOS	TRUSTEE	1.00	Director	$0	$0	$94,730
ANGEL CASTRO	TRUSTEE	1.00	Director	$0	$0	$106,625
AMADO RICO	TRUSTEE	1.00	Director	$0	$0	$42,758
MAURICE SMITH	TRUSTEE	1.00	Director	$0	$0	$42,725

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	No data	No data	No data	No data
2023	$20,119,347	$21,909,068	$11,718,604	$-1,789,721
2023	$18,120,324	$22,078,573	$9,493,524	$-3,958,249
2022	$21,497,894	$20,903,930	$13,455,447	$593,964
2021	$20,011,222	$21,315,687	$12,811,466	$-1,304,465
2020	$21,543,548	$19,759,788	$14,143,466	$1,783,760
2019	$19,141,594	$18,345,698	$12,293,582	$795,896
2018	$17,749,070	$18,186,046	$11,509,005	$-436,976

CORRECTION OFFICERS' BENEVOLENT ASSOC SECURITY BENEFITS FUND - RETIREES