HRSA-ILA 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

1948

Legal Domicile

Principal Officer

STEVE GREENE

Phone

7574577090

Tax Period

2023-10-01 to 2024-09-30

HRSA-ILA WELFARE FUND, founded in 1948, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $867 in total revenue in fiscal year 2023. Revenue surged 168% from the prior year, signaling strong growth momentum. Expenses of $3.0M exceeded revenue, resulting in a 345306% operating deficit.

Mission

:THE FUND IS AND SHALL CONSTITUTE AN IRREVOCABLE TRUST PURSUANT TO SECTION 302(C) OF THE LABOR MANAGEMENT RELATIONS ACT OF 1947 TO PROVIDE CERTAIN LIFE, SUPPLEMENTAL MEDICAL, ACCIDENT AND OTHER BENEFITS, ON AN INSURED OR SELF-INSURED BASIS, TO CERTAIN EMPLOYEES OF THE LONGSHORE INDUSTRY. FUND BENEFITS MAY (AS DETERMINED BY THE BOARD OF TRUSTEES FROM TIME TO TIME) INCLUDE VACATION BENEFITS, RECREATIONAL BENEFITS, CHILD CARE FACILITIES, JOB READJUSTMENT ALLOWANCES, INCOME MAINTENANCE PAYMENTS, DISASTER ASSISTANCE, SUPPLEMENTAL UNEMPLOYMENT COMPENSATION BENEFITS AS DEFINED IN IRC SECTION 501(C)(17)(D)(I), EDUCATION OR TRAINING BENEFITS, AND ANY OTHER BENEFIT PERMITTED UNDER SECTION 501(C)(9). THE FUND SHALL NOT PROVIDE HEALTH CARE OR OTHER BENEFITS WHICH ARE PROVIDED BY THE MILA MANAGED HEALTH CARE TRUST FUND, OR ANY SUCCESSOR THERETO.

Program Service Accomplishments

Program 1

PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE EMPLOYEES, RETIREES, AND THEIR FAMILIES.

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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 $0

Investment Income $827

Other Revenue $40

TOTAL REVENUE $867

Expense Breakdown

Grants Paid $0

Salaries & Benefits $245,645

Fundraising Expenses $0

Other Expenses $284,792

TOTAL EXPENSES $2,994,667

Year-over-Year Comparison

	2023	2022	Change
Revenue	$867	$323	+1.7%
Expenses	$2,994,667	$2,736,384	+0.1%
Net Income	$-2,993,800	$-2,736,061	+0.1%

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

121

Volunteers

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

$203,975

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROGER GIESINGER	TRUSTEE	0.50	Director	$0	$0	$0
JEREMY BRIDGES	TRUSTEE	0.50	Director	$0	$0	$0
PETER COOKE	TRUSTEE	0.50	Director	$0	$0	$0
JIM FORD	TRUSTEE	0.50	Director	$0	$0	$0
JAMES MICHALSKI	TRUSTEE	0.50	Director	$0	$0	$0
ERIN MALEY	TRUSTEE	0.50	Director	$0	$0	$0
KYLE BASSHAM	TRUSTEE	0.50	Director	$0	$0	$0
THOMAS LITTLE	TRUSTEE	0.50	Director	$0	$0	$0
LARRY BACHTELL	TRUSTEE	0.50	Director	$0	$0	$0
MONTA BIVINS	TRUSTEE	0.50	Director	$0	$0	$0
JONATHAN COLEY	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL HEATH	TRUSTEE	0.50	Director	$0	$0	$0
CHRISTOPHER FAULK	TRUSTEE	0.50	Director	$0	$0	$0
KEVIN HALSTEAD	TRUSTEE	0.50	Director	$0	$0	$0
STEVE GREENE	ADMINISTRATOR	3.00	Officer	$26,494	$30,360	$203,975

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	$867	$2,994,667	$696,708	$-2,993,800
2023	$323	$2,736,384	$997,304	$-2,736,061
2022	$206	$3,756,619	$477,533	$-3,756,413
2021	$215	$3,143,555	$422,177	$-3,143,340
2020	$445	$3,113,299	$418,968	$-3,112,854
2019	$1,314	$2,929,294	$454,956	$-2,927,980
2018	$1,815	$3,299,181	$465,126	$-3,297,366