WATERFRONT EMPLOYERS - ILA WELFARE… - 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

1948

Legal Domicile

Phone

8437235561

Tax Period

2024-10-01 to 2025-09-30

WATERFRONT EMPLOYERS - ILA WELFARE PL, founded in 1948, is a mid-sized nonprofit that reported $19.7M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $18.2M left a modest 7% surplus.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE MEDICAL, PRESCRIPTION, DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

THE PURPOSE OF THE PLAN IS TO PROVIDE MEDICAL, PRESCRIPTION, DISABILITY AND DEATH BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS.

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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 $19,194,622

Investment Income $444,337

Other Revenue $70,870

TOTAL REVENUE $19,709,829

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,181,036

TOTAL EXPENSES $18,245,399

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,709,829	$17,610,122	+0.1%
Expenses	$18,245,399	$16,401,800	+0.1%
Net Income	$1,464,430	$1,208,322	+0.2%

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

1420

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

$407,505

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEAL EDGERTON	CO-CHAIRMAN/TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM J BEAN	CO-CHAIRMAN/TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH HAIGLER	MGMT TRUSTEE	1.00	Director	$0	$0	$0
MARK WEATHERFORD	MGMT TRUSTEE -THRU 9/2025	1.00	Director	$0	$0	$0
CHARLES BRAVE JR	LABOR TRUSTEE - THRU 1/2025	1.00	Director	$0	$0	$0
KENNETH RILEY	LABOR TRUSTEE - EFF 1/2025	1.00	Director	$0	$0	$0
SAM CLAXTON	ALT MGMT TRUSTEE	1.00	Director	$0	$0	$0
JEREMIAH PERRY JR	ALT LABOR TRUSTEE	1.00	Director	$0	$0	$0
JASON DOUGLAS	ALT MGMT TRUSTEE	1.00	Director	$0	$0	$0
BENJAMIN FLOWERS JR	ALT LABOR TRUSTEE - THRU 1/2025	1.00	Director	$0	$0	$0
DERRICK HOLMES	ALT LABOR TRUSTEE - EFF 1/2025	1.00	Director	$0	$0	$0
BILL YOUNG	ALT MGMT TRUSTEE THRU 7/2025	1.00	Director	$0	$0	$0
WESLEY INFINGER	ALT MGMT TRUSTEE - EFF 7/2025	1.00	Director	$0	$0	$0
JAMES HOLLIDAY	ALT LABOR TRUSTEE	1.00	Director	$0	$0	$0
LEONARD A BAILEY	LABOR TRUSTEE	1.00	Director	$0	$0	$0
JAMES BENNETT	PLAN ADMINISTRATOR	8.00	Officer	$0	$36,833	$237,366
DEBORAH SMALLS	PENSION COORDINATOR	8.00	Officer	$0	$36,833	$170,139
SUSAN BAKER	SENIOR ACCOUNTANT	8.00	Highest	$0	$36,833	$158,890

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	$19,709,829	$18,245,399	$13,549,533	$1,464,430
2024	$17,610,122	$16,401,800	$12,636,014	$1,208,322
2023	$17,929,450	$17,792,507	$11,892,617	$136,943
2022	$20,623,344	$20,982,992	$11,837,753	$-359,648
2021	$17,485,348	$17,852,958	$12,503,499	$-367,610
2020	$14,530,320	$14,025,245	$12,921,723	$505,075
2019	$14,348,747	$14,242,613	$12,179,586	$106,134
2018	$15,167,879	$13,589,675	$12,682,359	$1,578,204

WATERFRONT EMPLOYERS - ILA WELFARE PL