Steamfitters Local Union No 614 Improvement Fund (EIN 620789504) - 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

1967

Legal Domicile

Principal Officer

Jeff Taylor

Phone

9013869565

Tax Period

2023-01-01 to 2023-12-31

Steamfitters Local Union No 614 Improvement Fund, founded in 1967, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $251K, a strong 18% operating margin.

Mission

To train and educate steamfitters.

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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 $28,075

Program Service Revenue $1,334,005

Investment Income $30,854

Other Revenue $4,801

TOTAL REVENUE $1,397,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $592,876

Fundraising Expenses $0

Other Expenses $554,315

TOTAL EXPENSES $1,147,191

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,397,735	$1,100,266	+0.3%
Expenses	$1,147,191	$906,737	+0.3%
Net Income	$250,544	$193,529	+0.3%

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

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

$137,697

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Winston Gipson	Chairman	1.00	Director	$0	$0	$0
Jeff Taylor	Secretary / Trustee	1.00	Director	$0	$0	$0
Bryan Shinault	Trustee	1.00	Director	$0	$0	$0
Scott Atkins	Trustee	1.00	Director	$0	$0	$0
Brad Bartlett	Trustee	1.00	Director	$0	$0	$0
Larry Bogard	Trustee	1.00	Director	$0	$0	$0
Paul Boswell	Director	40.00	Director	$97,007	$40,690	$137,697

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	No data	No data	No data	No data
2023	$1,397,735	$1,147,191	$2,482,690	$250,544
2023	No data	No data	No data	No data
2022	$1,100,266	$906,737	$2,198,866	$193,529
2021	$977,388	$805,906	$2,011,421	$171,482
2020	$999,811	$900,683	$1,844,706	$99,128
2019	$615,352	$1,019,173	$1,984,958	$-403,821
2018	$983,018	$1,007,516	$2,693,988	$-24,498

Steamfitters Local Union No 614 Improvement Fund