EMPLOYERS - ILA NC PORTS WELFARE PLAN (EIN 582126333) - Form 990 Financial Analysis & Trantor Score

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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

1957

Legal Domicile

Principal Officer

GREGORY WASHINGTON

Phone

9107638577

Tax Period

2023-10-01 to 2024-09-30

EMPLOYERS - ILA NC PORTS WELFARE PLAN, founded in 1957, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2023.

Mission

TO PROVIDE LIFE INSURANCE, SHORT-TERM DISABILITY FOR ELIGIBLE PARTICIPANTS OF THE PLAN AND MAINTAINED PARTICIPANT ELIGIBILITY INFORMATION FOR THIRD PARTY COLLECTIVELY-BARGAINED MEDICAL, DENTAL, PHARMACY AND VISION BENEFITS FOR ALL PARTICIPANTS OF THE PLAN.

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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 $3,122,309

Investment Income $187,573

Other Revenue $668,804

TOTAL REVENUE $3,978,686

Expense Breakdown

Grants Paid $0

Salaries & Benefits $455,670

Fundraising Expenses $0

Other Expenses $186,626

TOTAL EXPENSES $3,931,831

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,978,686	$3,762,576	+0.1%
Expenses	$3,931,831	$4,044,993	0.0%
Net Income	$46,855	$-282,417	-1.2%

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

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

$110,661

Key Employees

$165,840

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL LOKEY	EMPLOYER TRUSTEE	0.20	Director	$0	$0	$0
MICHAEL CLEMMONS	UNION TRUSTEE	0.20	Director	$28	$0	$12,193
CHARLES E SEATON	UNION TRUSTEE	0.10	Director	$83	$0	$12,248
JOHN W ELLIS	UNION TRUSTEE	0.10	Director	$0	$0	$12,165
RYAN MAYER	EMPLOYER TRUSTEE CHAIRMAN	0.20	Director	$0	$0	$0
KEM FRINK	UNION TRUSTEE	0.10	Director	$28	$0	$12,193
GREGORY WASHINGTON	UNION TRUSTEE CHAIRMAN	0.20	Director	$83	$0	$83
PERTY GRISSETT	ALTERNATE UNION TRUSTEE	0.10	Director	$83	$0	$12,248
LUKE DOREMUS	ALTERNATE EMPLOYER TRUSTEE	0.10	Director	$0	$0	$0
ADAM BALDERSON	EMPLOYER TRUSTEE	0.20	Director	$0	$0	$0
TONY THOMPSON	ALTERNATE EMPLOYER TRUSTEE	0.10	Director	$0	$0	$0
TERRY SYDNOR	EMPLOYER TRUSTEE	0.20	Director	$0	$0	$0
GLEN HART	ALTERNATE UNION TRUSTEE	0.10	Director	$13,019	$0	$25,184
KENNETH EVANS	ALTERNATE UNION TRUSTEE	0.10	Director	$0	$0	$12,165
GREG MELTON	ALTERNATE UNION TRUSTEE	0.10	Director	$17	$0	$12,182
KATHY WOMACK	SALARIED ADMINISTRATOR	25.00	Key Emp	$165,840	$0	$165,840

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	$3,978,686	$3,931,831	$4,194,131	$46,855
2023	$3,762,576	$4,044,993	$3,702,688	$-282,417
2022	$4,027,062	$4,005,397	$3,478,764	$21,665
2021	$3,624,877	$3,728,235	$4,386,398	$-103,358
2020	$3,688,911	$3,598,896	$3,596,104	$90,015
2019	$3,280,186	$3,315,181	$3,583,917	$-34,995
2018	$3,260,104	$3,151,536	$4,479,648	$108,568

EMPLOYERS - ILA NC PORTS WELFARE PLAN