RETIREE HEALTH AND WELFARE FUND OF… - Form 990 Financial Data

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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

1977

Legal Domicile

Principal Officer

DAVID NICHOLSON

Phone

2123497560

Tax Period

2023-07-01 to 2024-06-30

RETIREE HEALTH AND WELFARE FUND OF THE PBA OF THE CITY OF NEW YORK, founded in 1977, is a mid-sized nonprofit that reported $65.9M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $22.1M, a strong 34% operating margin.

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE HEALTH & WELFARE BENEFITS TO RETIRED POLICE OFFICERS, THEIR SPOUSES, AND ELIGIBLE DEPENDENTS.

Program Service Accomplishments

Program 1

THE RETIREE HEALTH AND WELFARE FUND OF THE POLICE BENEVOLENT ASSOCIATION OF THE CITY OF NEW YORK IS A WELFARE BENEFIT PLAN COVERING AT JUNE 30, 2024, 26,063 RETIRED PARTICIPANTS (SEPARATED FROM...

THE RETIREE HEALTH AND WELFARE FUND OF THE POLICE BENEVOLENT ASSOCIATION OF THE CITY OF NEW YORK IS A WELFARE BENEFIT PLAN COVERING AT JUNE 30, 2024, 26,063 RETIRED PARTICIPANTS (SEPARATED FROM SERVICE SUBSEQUENT TO JANUARY 1, 1971) AND THEIR ELIGIBLE DEPENDENTS. THE FUND PROVIDES PRESCRIPTION DRUGS, DENTAL, OPTICAL, AND OTHER SUPPLEMENTAL BENEFITS TO RETIRED POLICE OFFICERS AND THEIR ELIGIBLE DEPENDENTS.

Program 2

N/A

Program 3

N/A

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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 $59,150,186

Investment Income $6,789,935

Other Revenue $99

TOTAL REVENUE $65,940,220

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,099,446

Fundraising Expenses $0

Other Expenses $1,466,310

TOTAL EXPENSES $43,816,722

Year-over-Year Comparison

	2023	2022	Change
Revenue	$65,940,220	$84,973,812	-0.2%
Expenses	$43,816,722	$46,849,183	-0.1%
Net Income	$22,123,498	$38,124,629	-0.4%

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

$487,235

Total Directors

$931,269

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK J LYNCH	TRUSTEE 1/1-6/30/23	5.00	Director	$0	$0	$112,319
JOHN P PUGLISSI	TRUSTEE 1/1-6/30/23	5.00	Director	$0	$0	$96,430
JOSEPH A ALEJANDRO	TRUSTEE 1/1-6/30/23	5.00	Director	$0	$0	$85,840
PATRICK G HENDRY	TRUSTEE	7.00	Director	$0	$0	$151,729
DANIEL J TIRELLI	TRUSTEE	5.50	Director	$0	$0	$143,832
ALBERT ACIERNO	TRUSTEE FROM 7/1/23	5.50	Director	$0	$0	$115,587
ARTHUR EGNER	TRUSTEE FROM 7/1/23	5.50	Director	$0	$0	$114,035
BETTY CARRADERO TORRES	TRUSTEE FROM 7/1/23	5.50	Director	$0	$0	$111,497
DAVID NICHOLSON	FUNDS ADMINISTRATOR	13.50	Officer	$120,709	$74,620	$487,235
KEITH OWEN	ASST. FUNDS ADMIN.	22.00	Highest	$84,628	$67,026	$239,737
MONITA WONG	CONTROLLER	12.10	Highest	$42,020	$65,512	$221,141
VICKI TRICKETT	SQL DBA & DEVELOPER	13.50	Highest	$40,501	$31,878	$181,880
GREGORY ARISTILDE	IT DIRECTOR	13.50	Highest	$41,699	$32,339	$186,783
NIVEEN MANSOUR	SENIOR ACCOUNTANT	8.60	Highest	$30,031	$30,818	$170,367

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
2025	No data	No data	No data	No data
2024	$65,940,220	$43,816,722	$242,237,760	$22,123,498
2023	$84,973,812	$46,849,183	$216,613,731	$38,124,629
2022	$53,884,482	$36,543,454	$181,884,705	$17,341,028
2021	$54,323,145	$26,605,532	$171,668,298	$27,717,613
2020	$54,522,201	$40,546,788	$143,558,256	$13,975,413
2019	$55,141,085	$35,644,509	$126,634,995	$19,496,576
2018	$53,668,760	$35,554,799	$105,246,533	$18,113,961

RETIREE HEALTH AND WELFARE FUND OF THE PBA OF THE CITY OF NEW YORK