INSULATORS LOCAL NO 53 WELFARE FUND (EIN 720455641) - 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

1953

Legal Domicile

Phone

5044689654

Tax Period

2024-01-01 to 2024-12-31

INSULATORS LOCAL NO 53 WELFARE FUND, founded in 1953, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $2.0M left a modest 5% surplus.

Mission

THE FUND RECEIVES CONTRIBUTIONS FROM PARTICIPATING CONTRACTORS/ MEMBERS WHO EMPLOY MEMBERS OF THE UNION. CONTRIBUTIONS ARE RECEIVED ON EACH COVERED HOUR WORKED. THESE FUNDS ARE USED TO PROVIDE HEALTH INSURANCE BENEFITS TO ELIGIBLE PARTICIPANTS.

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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 $1,705,107

Investment Income $351,263

Other Revenue $0

TOTAL REVENUE $2,056,370

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,655

Fundraising Expenses $0

Program Expenses $205,915

Other Expenses $391,640

TOTAL EXPENSES $1,958,528

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,056,370	$1,745,222	+0.2%
Expenses	$1,958,528	$1,369,561	+0.4%
Net Income	$97,842	$375,661	-0.7%

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

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
RYAN BORDELON	EXECUTIVE DIRECTOR	1.00		$17,136	$8,718	$25,854
SCOTT MCLEAN	Trustee	1.00	Director	$0	$0	$0
DAVID SCHUBER	Trustee	1.00	Director	$0	$0	$0
CARL WILSON	Trustee	1.00	Director	$0	$0	$0
KRISTOPHER COMEAUX	Chairman	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	$2,056,370	$1,958,528	$8,361,159	$97,842
2023	$1,745,222	$1,369,561	$8,227,715	$375,661
2022	$2,735,176	$1,625,159	$7,764,522	$1,110,017
2021	$2,490,512	$1,900,007	$7,546,204	$590,505
2020	$1,706,266	$1,187,171	$6,595,943	$519,095
2019	$1,761,617	$1,462,401	$6,190,184	$299,216
2018	$2,020,581	$1,280,083	$5,437,025	$740,498

INSULATORS LOCAL NO 53 WELFARE FUND