INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 605 (EIN 640115714) - 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

1980

Legal Domicile

Principal Officer

GRADY HOLLOWELL

Phone

6018925162

Tax Period

2024-01-01 to 2024-12-31

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 605, founded in 1980, is a small nonprofit that reported $538K in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $119K, a strong 22% operating margin.

Mission

PROMOTION OF MEMBERS' WELFARE BY ASSISTING ALL MEMBERS IN OBTAINING AND/OR RETAINING EMPLOYMENT AT ADEQUATE WAGES AND CONDITIONS.

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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 $50,000

Program Service Revenue $459,391

Investment Income $26,399

Other Revenue $2,110

TOTAL REVENUE $537,900

Expense Breakdown

Grants Paid $0

Salaries & Benefits $159,757

Fundraising Expenses $0

Other Expenses $258,922

TOTAL EXPENSES $418,679

Year-over-Year Comparison

	2024	2023	Change
Revenue	$537,900	$436,823	+0.2%
Expenses	$418,679	$402,475	+0.0%
Net Income	$119,221	$34,348	+2.5%

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

$121,221

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID KILLINGSWORTH	ASSISTANT BU	40.00	Officer	$117,944	$0	$117,944
CHRIS ELKINS	ASST BUSINES	1.00	Officer	$0	$0	$0
THOMAS PARSONS	PRESIDENT	1.00	Officer	$0	$0	$0
KEITH GORDON	TREASURER	1.00	Officer	$0	$0	$0
GRADY HOLLOWELL	BUSINESS MAN	1.00	Officer	$3,277	$0	$3,277
JAMES THOMPSON	EXECUTIVE BO	1.00	Director	$0	$0	$0
MARK MCCANN	EXECUTIVE BO	1.00	Director	$0	$0	$0
ZAC WHITE	EXECUTIVE BO	1.00	Director	$0	$0	$0
OAK FLOYD	EXECUTIVE BO	1.00	Director	$0	$0	$0
CASEY OWENS	EXECUTIVE BO	1.00	Director	$0	$0	$0
ANDY STEVENSON	EXECUTIVE BO	1.00	Director	$0	$0	$0
CHRIS HENDERSON	EXECUTIVE BO	1.00	Director	$0	$0	$0
JARED NORSWORTHY	EXECUTIVE BO	1.00	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	$537,900	$418,679	$846,012	$119,221
2023	$436,823	$402,475	$683,178	$34,348
2022	$455,097	$422,031	$612,576	$33,066
2021	$443,665	$474,060	$716,360	$-30,395
2020	$472,486	$526,221	$746,405	$-53,735
2019	$497,011	$513,456	$734,118	$-16,445
2018	$477,251	$517,825	$687,806	$-40,574

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 605