Allied Pilots Association Welfare Benefits Plan Master Trust (EIN 752589033) - 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

1994

Legal Domicile

Principal Officer

ED SICHER

Phone

8173022147

Tax Period

2023-01-01 to 2023-12-31

Allied Pilots Association Welfare Benefits Plan Master Trust, founded in 1994, is a mid-sized nonprofit that reported $36.5M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Net assets of $185.1M represent 61 months of operating reserves.

Mission

PROVISION OF WELFARE BENEFITS TO MEMBERS OF THE ALLIED PILOTS ASSOCIATION AND THEIR DEPENDENTS.

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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 $29,288,832

Investment Income $7,230,731

Other Revenue $0

TOTAL REVENUE $36,519,563

Expense Breakdown

Grants Paid $0

Salaries & Benefits $152,167

Fundraising Expenses $0

Other Expenses $3,908,438

TOTAL EXPENSES $38,003,363

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,519,563	$47,252,643	-0.2%
Expenses	$38,003,363	$40,526,996	-0.1%
Net Income	$-1,483,800	$6,725,647	-1.2%

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
STATE STREET BANK TRUST CO	TRUSTEE	1.0		$152,167	$0	$152,167
ED SICHER	PRESIDENT	0.0	Officer	$0	$0	$0
PATRICK CLARK	SECRETARY-TREASURER	0.0	Officer	$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	No data	No data	No data	No data
2023	$36,519,563	$38,003,363	$185,362,729	$-1,483,800
2022	$47,252,643	$40,526,996	$170,550,178	$6,725,647
2021	$54,088,207	$30,940,793	$221,269,807	$23,147,414
2020	$50,555,345	$27,111,772	$180,773,063	$23,443,573
2019	$50,973,133	$23,747,579	$157,727,736	$27,225,554
2018	$19,532,659	$22,107,009	$130,502,182	$-2,574,350

Allied Pilots Association Welfare Benefits Plan Master Trust