INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 1597 LOCAL (EIN 510246089) - 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

1940

Legal Domicile

Principal Officer

MINDY OSTERMAN

Phone

3089309022

Tax Period

2023-01-01 to 2023-12-31

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 1597 LOCAL, founded in 1940, is a small nonprofit that reported $270K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $51K, a strong 19% operating margin.

Mission

THE LOCAL 1597 UTILITIES UNION PROVIDES COLLECTIVE BARGAINING FOR ITS MEMBERS TO RECEIVE FAIR BENEFITS AND WAGES AND TO PROVIDE A SAFE WORKING ENVIRONMENT FOR ITS 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 $265,405

Program Service Revenue $0

Investment Income $4,514

Other Revenue $0

TOTAL REVENUE $269,919

Expense Breakdown

Grants Paid $2,000

Salaries & Benefits $62,267

Fundraising Expenses $0

Other Expenses $155,062

TOTAL EXPENSES $219,329

Year-over-Year Comparison

	2023	2022	Change
Revenue	$269,919	$231,812	+0.2%
Expenses	$219,329	$232,812	-0.1%
Net Income	$50,590	$-1,000	-51.6%

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

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

$30,411

Total Directors

$16,927

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY THOMPSON	PRESIDENT	2.00	Officer	$12,253	$0	$12,253
CHAD HOLMES	VICE PRESIDE	2.00	Officer	$9,183	$0	$9,183
MINDY OSTERMAN	FINANCIAL SE	2.00	Officer	$0	$0	$0
NICK MANKLE	TREASURER	2.00	Officer	$3,336	$0	$3,336
CORY ROWLEY	RECORDING SE	2.00	Officer	$5,639	$0	$5,639
ED THOMPSON	EXECUTIVE BO	1.00	Director	$8,482	$0	$8,482
MICK CLARK	EXECUTIVE BO	1.00	Director	$2,114	$0	$2,114
MICHAEL DEGROFF	EXECUTIVE BO	1.00	Director	$1,952	$0	$1,952
MIKE SORENSEN	EXECUTIVE BO	1.00	Director	$1,353	$0	$1,353
PAUL ROBERTS	EXECUTIVE BO	1.00	Director	$1,178	$0	$1,178
SEAN SCHWARTZ	EXECUTIVE BO	1.00	Director	$1,848	$0	$1,848

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
2024	No data	No data	No data	No data
2023	$269,919	$219,329	$266,948	$50,590
2022	$231,812	$232,812	$218,551	$-1,000
2021	$222,292	$164,756	$219,429	$57,536
2020	$225,468	$158,075	$161,402	$67,393
2019	$218,336	$240,601	$94,068	$-22,265
2018	$216,962	$231,402	$116,739	$-14,440

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS 1597 LOCAL