IRON WORKERS LOCAL #5 JOINT APPREN… - 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

1901

Legal Domicile

Principal Officer

RAY CLELAND

Phone

3015990940

Tax Period

2024-07-01 to 2025-06-30

IRON WORKERS LOCAL #5 JOINT APPRENTICE TRAINING COMMITTEE, founded in 1901, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $3.0M left a modest 9% surplus.

Mission

TO ASSIST IN TEACHING AND TRAINING PERSONS ENTERING THE IRONWORKING TRADE. IN ADDITION, ITS GOAL IS TO MAKE AVAILABLE QUALIFIED WORKERS TO ENSURE THE PUBLIC MAY RECEIVE THE BEST WORKMANSHIP.

Program Service Accomplishments

Program 1

TO ASSIST IN TRAINING NEW MEMBERS ENTERING THE TRADE.

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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 $2,541,030

Investment Income $120,728

Other Revenue $601,013

TOTAL REVENUE $3,262,771

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,296,684

Fundraising Expenses $0

Other Expenses $1,657,831

TOTAL EXPENSES $2,954,515

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,262,771	$2,642,156	+0.2%
Expenses	$2,954,515	$2,583,498	+0.1%
Net Income	$308,256	$58,658	+4.3%

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

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

$208,095

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RYAN LORIGAN	TRUSTEE (EMPLOYER)	1.00	Director	$0	$0	$0
RAY CLELAND	CHAIRMAN (UNION)	1.00	Director	$0	$0	$0
KENNETH WAUGH	TRUSTEE (UNION)	1.00	Director	$0	$0	$0
LARRY LUIS	TRUSTEE (UNION)	1.00	Director	$0	$0	$0
RANDALL CHRISTENSEN	TRUSTEE (EMPLOYER)	1.00	Director	$0	$0	$0
DAVID CORNELLIER	TRUSTEE (EMPLOYER)	1.00	Director	$0	$0	$0
ROBERT RUSSELL	TRUSTEE (EMPLOYER)	1.00	Director	$0	$0	$0
KENNETH WOOD	TRUSTEE (EMPLOYER)	1.00	Director	$0	$0	$0
RYAN MARSHALL	TRUSTEE (UNION)	1.00	Director	$0	$0	$0
GARY ARMSTRONG	TRUSTEE (UNION)	40.00	Officer	$121,374	$86,721	$208,095
JOSEPH KEARNS	APPRENTICESHIP COORDINATOR	40.00	Highest	$120,828	$88,102	$208,930
RANDY GARDNER	INSTRUCTOR	40.00	Highest	$135,897	$95,656	$231,553
ALEXANDER BARHAM	INSTRUCTOR	40.00	Highest	$122,214	$87,905	$210,119
MIGUEL CRUZ	INSTRUCTOR	40.00	Highest	$113,984	$83,923	$197,907

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	$3,262,771	$2,954,515	$5,136,740	$308,256
2024	$2,642,156	$2,583,498	$4,744,702	$58,658
2023	$2,535,915	$2,548,867	$4,656,111	$-12,952
2022	$2,382,501	$2,159,351	$4,669,063	$223,150
2021	$2,348,791	$2,198,279	$4,445,913	$150,512
2020	$2,295,769	$2,120,650	$4,295,401	$175,119
2019	$2,183,615	$1,707,201	$4,120,282	$476,414
2018	$2,221,207	$1,484,786	$3,643,868	$736,421

IRON WORKERS LOCAL #5 JOINT APPRENTICE TRAINING COMMITTEE