IRONWORKERS LOCAL 451 VACATION 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

2009

Legal Domicile

Principal Officer

Richard Jordan

Phone

3029940946

Tax Period

2023-07-01 to 2024-06-30

IRONWORKERS LOCAL 451 VACATION FUND, founded in 2009, is a micro nonprofit that reported $8K in total revenue in fiscal year 2023. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $16K exceeded revenue, resulting in a 94% operating deficit.

Mission

Provide vacation benefits to members.

Program Service Accomplishments

Program 1

Members vacation benefits are based on the amount of contributions received each year. Contributions are based on the number of hours paid.

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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 $8,430

Investment Income $12

Other Revenue $0

TOTAL REVENUE $8,442

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $12,851

TOTAL EXPENSES $16,348

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,442	$544,564	-1.0%
Expenses	$16,348	$548,512	-1.0%
Net Income	$-7,906	$-3,948	+1.0%

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

N/A

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

$185,287

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Jordan	Trustee	2.00	Director	$0	$88,391	$185,287
Albert Rago Jr	Trustee	2.00	Director	$0	$0	$0
Michael Bloom	Trustee	2.00	Director	$0	$0	$0
Chris Grazier	Trustee	2.00	Director	$0	$0	$0
Adam Short	Trustee	2.00	Director	$0	$0	$0
Stephen Sweeney	Trustee	5.00	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
2024	$14,012	$19,323	No data	$-5,311
2024	$8,442	$16,348	$6,163	$-7,906
2023	$544,564	$548,512	$94,885	$-3,948
2022	$533,054	$539,041	$95,524	$-5,987
2021	$653,667	$649,077	$122,953	$4,590
2020	$693,205	$690,990	$120,532	$2,215
2019	$616,475	$625,261	$130,314	$-8,786
2018	$867,319	$856,894	$167,114	$10,425