IRONWORKERS AFL-CIO LOCAL 402 (EIN 590785442) - 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

1926

Legal Domicile

Principal Officer

Jeff Bailey

Phone

5618427651

Tax Period

2024-07-01 to 2025-06-30

IRONWORKERS AFL-CIO LOCAL 402, founded in 1926, is a small nonprofit that reported $408K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $475K exceeded revenue, resulting in a 16% operating deficit.

Mission

The Local provided jobs for its members

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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 $359,621

Program Service Revenue $4,400

Investment Income $6,892

Other Revenue $36,996

TOTAL REVENUE $407,909

Expense Breakdown

Grants Paid $0

Salaries & Benefits $264,783

Fundraising Expenses $0

Other Expenses $199,794

TOTAL EXPENSES $474,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$407,909	$485,964	-0.2%
Expenses	$474,977	$447,640	+0.1%
Net Income	$-67,068	$38,324	-2.8%

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

N/A

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

$86,730

Total Directors

$86,730

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeff Bailey	Business Mgr, FST	40.00	Officer Director	$86,730	$0	$86,730
Mike Kauffman	President	10.00	Officer Director	$0	$0	$0
Robert Brown	Vice President	10.00	Officer Director	$0	$0	$0
Shannon Wood	Recording Secretary	10.00	Officer Director	$0	$0	$0
Robert Johnston	Board Member	10.00	Director	$0	$0	$0
Charles Yearly	Board Member	10.00	Director	$0	$0	$0
Stephen Lattanzio	Board Member	10.00	Director	$0	$0	$0
Jeffrey Kretch	Board Member	10.00	Director	$0	$0	$0
Jeremy King	Trustee	10.00	Director	$0	$0	$0
Nathanel Church	Trustee	10.00	Director	$0	$0	$0
John Irwin	Trustee	10.00	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	$407,909	$474,977	$289,644	$-67,068
2024	$485,964	$447,640	$360,797	$38,324
2023	$576,753	$513,080	$325,704	$63,673
2022	$512,249	$465,586	$256,215	$46,663
2021	$400,230	$463,412	$210,477	$-63,182
2020	$482,388	$451,344	$257,117	$31,044
2019	$481,617	$462,222	$233,259	$19,395

IRONWORKERS AFL-CIO LOCAL 402