IRON WORKERS LOCAL NO 568 HEALTH A… - 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

1972

Legal Domicile

Principal Officer

MR DANIEL W CESSNA

Phone

3017777770

Tax Period

2024-09-01 to 2025-08-31

IRON WORKERS LOCAL NO 568 HEALTH AND WELFARE PLAN, founded in 1972, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $329K, a strong 25% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO UNION MEMBERS

Program Service Accomplishments

Program 1

A PROGRAM FOR UNION MEMBERS CONSISTING OF THE FOLLOWING BENEFITS: LIFE INSURANCE, OPTICAL, DENTAL, ACCIDENTAL DEATH BENEFITS, PRESCRIPTIONS, HOSPITALIZATION & MEDICAL, AND WEEKLY DISABILITY.

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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 $1,209,227

Investment Income $90,215

Other Revenue $10,060

TOTAL REVENUE $1,309,502

Expense Breakdown

Grants Paid $0

Salaries & Benefits $39,989

Fundraising Expenses $0

Other Expenses $355,909

TOTAL EXPENSES $980,349

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,309,502	$1,184,005	+0.1%
Expenses	$980,349	$1,188,748	-0.2%
Net Income	$329,153	$-4,743	-70.4%

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

Total Directors

$219,482

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR DANIEL W CESSNA	TRUSTEE	N/A	Director	$0	$70,912	$151,766
MR ERIC HUGHES	TRUSTEE	N/A	Director	$0	$27,760	$67,716
MR STEVE DIEHL	TRUSTEE	N/A	Director	$0	$0	$0
MR CARL BELT JR	TRUSTEE	N/A	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
2025	$1,309,502	$980,349	$1,666,242	$329,153
2024	$1,184,005	$1,188,748	$1,332,857	$-4,743
2023	$936,280	$880,732	$1,277,364	$55,548
2022	$921,456	$714,260	$1,252,743	$207,196
2021	$914,478	$1,015,996	$1,134,217	$-101,518
2020	$845,757	$1,083,376	$1,320,429	$-237,619
2019	$925,024	$1,089,883	$1,518,532	$-164,859
2018	$1,008,935	$1,122,775	$1,652,845	$-113,840

IRON WORKERS LOCAL NO 568 HEALTH AND WELFARE PLAN