ASBESTOS WORKERS L 24 MEDICAL FUND (EIN 770649935) - 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

2004

Legal Domicile

Principal Officer

BRIAN CAVEY

Phone

4108729500

Tax Period

2024-07-01 to 2025-06-30

ASBESTOS WORKERS L 24 MEDICAL FUND, founded in 2004, is a community nonprofit in the Mutual Benefit sector that reported $9.2M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

THE EXEMPT PURPOSE OF THE FUND IS TO PROVIDE PARTICIPANTS AND THEIR DEPENDENTS WITH HEALTH, ACCIDENT, DISABILITY, VISION, DENTAL AND DEATH BENEFITS.

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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 $8,451,777

Investment Income $709,800

Other Revenue $6,285

TOTAL REVENUE $9,167,862

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $554,752

TOTAL EXPENSES $9,206,313

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,167,862	$7,869,271	+0.2%
Expenses	$9,206,313	$7,833,020	+0.2%
Net Income	$-38,451	$36,251	-2.1%

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

$147,217

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT CIANCAGLINI	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
SCOTT GRANT	SECRETARY	1.00	Director	$0	$0	$0
BRIAN S CAVEY	CHAIRMAN	1.00	Director	$0	$0	$0
JONATHAN POTTER	UNION TRUSTEE	1.00	Director	$0	$0	$0
ANDREW TOMLINSON	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JULIO CAICEDO	UNION TRUSTEE	1.00	Director	$0	$46,206	$147,217

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	$9,167,862	$9,206,313	$14,720,448	$-38,451
2024	$7,869,271	$7,833,020	$14,236,529	$36,251
2023	$7,503,787	$9,557,161	$13,799,635	$-2,053,374
2022	$8,731,379	$8,100,141	$14,745,188	$631,238
2021	$7,842,049	$8,790,288	$15,356,757	$-948,239
2020	$7,317,202	$7,963,122	$15,060,630	$-645,920
2019	$5,938,229	$7,229,806	$15,660,381	$-1,291,577
2018	$12,040,007	$6,253,815	$16,823,196	$5,786,192

ASBESTOS WORKERS L 24 MEDICAL FUND