SEIU HEALTH AND WELFARE FUND

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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

1969

Legal Domicile

Principal Officer

MEGAN SWEENEY

Phone

2027307511

Tax Period

2023-01-01 to 2023-12-31

SEIU HEALTH AND WELFARE FUND, founded in 1969, is a mid-sized nonprofit that reported $53.5M in total revenue in fiscal year 2023.

Mission

THE SERVICE EMPLOYEES INTERNATIONAL UNION HEALTH AND WELFARE FUND IS A JOINTLY MANAGED TAFT-HARLEY, MULTI-EMPLOYER,COLLECTIVELY BARGAINED,SELF INSURED AND INSURED HEALTH AND WELFARE PLAN.

Program Service Accomplishments

Program 1

THE PLAN PROVIDED MEDICAL, DENTAL, VISION, PRESCRIPTION, LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE TO ELIGIBLE PARTICIPANTS.

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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 $51,121,830

Investment Income $474,147

Other Revenue $1,913,153

TOTAL REVENUE $53,509,130

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $4,135,671

TOTAL EXPENSES $58,017,874

Year-over-Year Comparison

	2023	2022	Change
Revenue	$53,509,130	$52,479,632	+0.0%
Expenses	$58,017,874	$53,637,859	+0.1%
Net Income	$-4,508,744	$-1,158,227	+2.9%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG NAMMACHER	UNION TRUSTEE	1.00	Director	$0	$0	$0
KENNETH MUNZ	UNION TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER B BOUVIER	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
DAVID CHAPLA	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
DAMON FRASER	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
JOHN NEESE	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
KURT EDELMAN	UNION TRUSTEE	1.00	Director	$0	$0	$0
MEGAN SWEENEY	UNION TRUSTEE - CHAIR	1.00	Director	$0	$0	$0
VALERIE ERVIN	UNION TRUSTEE	1.00	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	No data	No data	No data	No data
2023	$53,509,130	$58,017,874	$39,627,639	$-4,508,744
2022	$52,479,632	$53,637,859	$42,032,432	$-1,158,227
2021	$54,485,923	$53,605,443	$44,300,778	$880,480
2020	$54,216,587	$50,442,766	$42,894,057	$3,773,821
2019	$48,809,265	$48,727,188	$40,646,184	$82,077
2018	$48,658,490	$48,592,252	$40,176,174	$66,238