UTC WELFARE BENEFITS PLAN C/O KELL… - 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

1996

Legal Domicile

Principal Officer

KELLY B LAPPIN

Phone

7815223000

Tax Period

2023-01-01 to 2023-12-31

UTC WELFARE BENEFITS PLAN C/O KELLY B LAPPIN, founded in 1996, is a mid-sized nonprofit in the Mutual Benefit sector that reported $28.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $24.9M left a modest 12% surplus.

Mission

A VOLUNTARY EMPLOYEE BENFICIARY ASSOCIATION THAT PROVIDES BENEFITS TO ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS.

Program Service Accomplishments

Program 1

Expenses: $24,656,737

PAYMENT OF EMPLOYEE BENEFITS FOR ELIGIBLE EMPLOYEES AND DEPENDENTS UNDER THE UTC WELFARE BENEFITS PLAN TRUST.

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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 $27,735,059

Investment Income $725,904

Other Revenue $0

TOTAL REVENUE $28,460,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,014

Fundraising Expenses $0

Program Expenses $24,656,737

Other Expenses $232,885

TOTAL EXPENSES $24,904,636

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,460,963	$25,679,808	+0.1%
Expenses	$24,904,636	$18,949,122	+0.3%
Net Income	$3,556,327	$6,730,686	-0.5%

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

N/A

Independent Members

N/A

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
N/A	TRUSTEE	1.00		$15,014	$0	$15,014

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	$28,460,963	$24,904,636	$18,016,654	$3,556,327
2022	$25,679,808	$18,949,122	$14,460,327	$6,730,686
2021	$8,473,870	$8,136,242	$7,729,642	$337,628
2020	$11,470,983	$11,266,040	$7,392,014	$204,943
2019	$13,806,110	$13,189,396	$7,187,071	$616,714
2018	$10,158,020	$9,551,330	$6,570,357	$606,690

UTC WELFARE BENEFITS PLAN C/O KELLY B LAPPIN