LOCAL NO 602 COMMUNICATION AND PRO… - 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

1987

Legal Domicile

Principal Officer

SIDNEY BONILLA

Phone

3013332356

Tax Period

2024-01-01 to 2024-12-31

LOCAL NO 602 COMMUNICATION AND PRODUCTIVITY FUND, founded in 1987, is a community nonprofit that reported $4.5M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. Expenses of $3.9M left a modest 11% surplus.

Mission

THE FUND PROMOTES COMMUNICATION BETWEEN LABOR AND MANAGEMENT OF MEMBERS OF LOCAL UNION NO. 602 THROUGH VARIOUS PROGRAMS AND EVENTS.

Program Service Accomplishments

Program 1

THE FUND PROMOTES COMMUNICATION BETWEEN LABOR AND MANAGEMENT THROUGH VARIOUS PROGRAMS AND EVENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,375,599

Investment Income $75,267

Other Revenue $24

TOTAL REVENUE $4,450,890

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,942,894

TOTAL EXPENSES $3,942,894

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,450,890	$3,456,518	+0.3%
Expenses	$3,942,894	$4,498,152	-0.1%
Net Income	$507,996	$-1,041,634	-1.5%

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

$601,279

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS MADELLO	TRUSTEE	1.0	Director	$0	$110,604	$316,796
SIDNEY BONILLA	TRUSTEE	1.0	Director	$0	$104,983	$284,483
TOM BELLO	TRUSTEE	1.0	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	$4,450,890	$3,942,894	$2,576,941	$507,996
2023	$3,456,518	$4,498,152	$2,060,742	$-1,041,634
2022	$2,931,714	$3,692,622	$3,247,313	$-760,908
2021	$2,390,696	$2,396,224	$3,860,655	$-5,528
2020	$2,041,708	$813,328	$3,871,996	$1,228,380
2019	$2,137,315	$1,707,107	$2,676,904	$430,208
2018	$1,713,652	$764,008	$2,204,908	$949,644

LOCAL NO 602 COMMUNICATION AND PRODUCTIVITY FUND