ASBESTOS WORKERS LOCAL 24 APPRENTI… - 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

1968

Legal Domicile

Principal Officer

BRIAN CAVEY

Phone

4108729500

Tax Period

2023-10-01 to 2024-09-30

ASBESTOS WORKERS LOCAL 24 APPRENTICE- SHIP FUND, founded in 1968, is a small nonprofit that reported $602K in total revenue in fiscal year 2023. Net assets of $2.7M represent 54 months of operating reserves.

Mission

THE EXEMPT PURPOSE OF THE FUND IS TO PROVIDE A TRAINING AND EDUCATIONAL PROGRAM FOR APPRENTICES AND, IN THE FURTHER DISCRETION OF THE TRUSTEES, FOR JOURNEYMEN.

Program Service Accomplishments

Program 1

Expenses: $438,968 Revenue: $524,687

THE EXEMPT PURPOSE OF THE FUND IS TO PROVIDE A TRAINING AND EDUCATIONAL PROGRAM FOR APPRENTICES AND, IN THE FURTHER DISCRETION OF THE TRUSTEES, FOR JOURNEYMEN. THIS IS ESSENTIALLY THE ONLY PROGRAM...

THE EXEMPT PURPOSE OF THE FUND IS TO PROVIDE A TRAINING AND EDUCATIONAL PROGRAM FOR APPRENTICES AND, IN THE FURTHER DISCRETION OF THE TRUSTEES, FOR JOURNEYMEN. THIS IS ESSENTIALLY THE ONLY PROGRAM SERVICE OF THE ORGANIZATION AND ALL OF THE REVENUES AND EXPENSES ARE CONSIDERED TO BE FOR THIS PURPOSE.

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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 $522,737

Investment Income $77,178

Other Revenue $1,950

TOTAL REVENUE $601,865

Expense Breakdown

Grants Paid $0

Salaries & Benefits $357,894

Fundraising Expenses $0

Program Expenses $438,968

Other Expenses $233,208

TOTAL EXPENSES $591,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$601,865	$607,742	0.0%
Expenses	$591,102	$626,448	-0.1%
Net Income	$10,763	$-18,706	-1.6%

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

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

$189,407

Total Directors

$628

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT S MCCOURT	TRUSTEE	1.00	Director	$628	$0	$628
FOREST WARMAN	TRUSTEE (P)	1.00	Director	$0	$0	$0
KEN GRAVES	TRUSTEE (P)	1.00	Director	$0	$0	$0
BRIAN S CAVEY	TRUSTEE	1.00	Director	$0	$0	$0
WILFREDO MATA	TRUSTEE (P)	1.00	Director	$0	$0	$0
RICHARD HEINZMAN	TRUSTEE (P)	1.00	Director	$0	$0	$0
RON WEISSER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN ADKINS	TRUSTEE	1.00	Director	$0	$0	$0
BENNY GRANT	TRUSTEE	1.00	Director	$0	$0	$0
JULIO CAICEDO	TRUSTEE	1.00	Director	$0	$0	$0
JAMES HOOS	APPRENTICESHIP COORDINATOR	48.00	Officer	$114,121	$75,286	$189,407

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	$601,865	$591,102	$2,713,141	$10,763
2023	$607,742	$626,448	$2,702,378	$-18,706
2022	$552,957	$511,106	$2,721,084	$41,851
2021	$668,806	$400,570	$2,660,666	$268,236
2020	$570,679	$311,841	$2,528,898	$258,838
2019	$608,493	$320,995	$2,271,392	$287,498
2018	$852,208	$356,037	$1,956,579	$496,171

ASBESTOS WORKERS LOCAL 24 APPRENTICE- SHIP FUND