IBEW - NECA HEALTH & WELFARE PLAN - 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

1959

Legal Domicile

Principal Officer

Andrew Taylor

Phone

2514785412

Tax Period

2024-10-01 to 2025-09-30

IBEW - NECA HEALTH & WELFARE PLAN, founded in 1959, is a community nonprofit that reported $6.2M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

BENEFITS FOR LOCAL 505 UNION MEMBERS

Program Service Accomplishments

Program 1

Expenses: $6,315,778 Revenue: $6,169,829

PROVIDE HOSPITAL, SURGICAL, MEDICAL CARE, AND DIAGNOSTIC CARE INSURANCE

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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 $5,856,415

Investment Income $313,414

Other Revenue $0

TOTAL REVENUE $6,169,829

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,315,778

Other Expenses $1,307,530

TOTAL EXPENSES $6,315,778

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,169,829	$5,476,877	+0.1%
Expenses	$6,315,778	$5,228,675	+0.2%
Net Income	$-145,949	$248,202	-1.6%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW TAYLOR	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL BAKER	TRUSTEE	2.00	Director	$0	$0	$0
GARY FULLER	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW VARVOUTIS	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD RUSSELL	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN FREEMAN	TRUSTEE	2.00	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	$6,169,829	$6,315,778	$8,068,523	$-145,949
2024	$5,476,877	$5,228,675	$8,243,584	$248,202
2023	$5,138,755	$4,760,889	$7,840,656	$377,866
2022	$4,723,685	$4,620,484	$7,418,180	$103,201
2021	$4,298,977	$3,024,753	$7,444,803	$1,274,224
2020	$4,304,202	$3,356,020	$6,209,272	$948,182
2018	$4,548,443	$3,344,261	$3,884,020	$1,204,182

IBEW - NECA HEALTH & WELFARE PLAN