IAFF LOCAL 587 HEALTH INSURANCE TRUST FUND (EIN 827012034) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

JORGE MEGIAS

Phone

3054251938

Tax Period

2024-03-01 to 2025-02-28

IAFF LOCAL 587 HEALTH INSURANCE TRUST FUND, founded in 2018, is a mid-sized nonprofit in the Mutual Benefit sector that reported $33.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $83.6M exceeded revenue, resulting in a 150% operating deficit.

Mission

TO PROVIDE MEDICAL, DENTAL, AND OTHER WELFARE BENEFITS TO ELIGIBLE MEMBERS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $31,756,030

Investment Income $1,691,955

Other Revenue $329

TOTAL REVENUE $33,448,314

Expense Breakdown

Grants Paid $0

Salaries & Benefits $279,432

Fundraising Expenses $0

Other Expenses $1,283,648

TOTAL EXPENSES $83,617,541

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,448,314	$28,980,362	+0.2%
Expenses	$83,617,541	$35,175,029	+1.4%
Net Income	$-50,169,227	$-6,194,667	+7.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$244,680

Total Directors

$139,997

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEXANDER CARDENAS	ADMINISTRATO	40.00	Officer Director	$51,558	$2,736	$54,294
THOMAS GABRIEL	ASST ADMIN/T	40.00	Officer Director	$39,591	$6,986	$46,577
JORGE MEGIAS	FINANCE MANA	40.00	Officer Director	$38,567	$559	$39,126
SILVIA LEIVA	BENEFITS COO	40.00	Officer	$68,803	$2,112	$70,915
NYDIA SOTO-KAYE	BENEFITS MAN	40.00	Officer	$33,768	$0	$33,768
LOUIS MARSHALL	TRUSTEE	10.00	Officer Director	$0	$0	$0
RAUL CERNUDA	TRUSTEE	10.00	Officer Director	$0	$0	$0
TROY SUTTON	TRUSTEE	10.00	Officer Director	$0	$0	$0
FREDDY DELGADO	TRUSTEE	10.00	Officer Director	$0	$0	$0
ALBERT ROBERT	TRUSTEE	10.00	Officer Director	$0	$0	$0
ROBERT JORGE	TRUSTEE	10.00	Officer Director	$0	$0	$0
AKEEM DONALDSON	SECRETARY	10.00	Officer Director	$0	$0	$0
NIKKO OSBORNE	TRUSTEE	10.00	Officer 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
2025	$33,448,314	$83,617,541	$34,521,874	$-50,169,227
2024	$28,980,362	$35,175,029	$28,752,065	$-6,194,667
2023	$26,318,781	$60,342,482	$22,783,919	$-34,023,701
2022	$26,344,538	$52,875,906	$22,033,849	$-26,531,368
2021	$25,331,192	$42,868,572	$14,803,807	$-17,537,380
2020	$3,291,098	$91,908,798	$6,605,206	$-88,617,700
2019	$24,188,450	$19,050,920	$6,579,330	$5,137,530
2018	$1,385,186	$49,669	$1,338,009	$1,335,517

IAFF LOCAL 587 HEALTH INSURANCE TRUST FUND