LOCAL 1298 MARKET RECOVERY PROGRAM INC

EIN: 830763864 Employment

HEMPSTEAD, NY

Total Revenue
$872,835
Total Expenses
$421,985
Total Assets
$996,110
Net Assets
$996,110
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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
2018
Legal Domicile
NY
Principal Officer
FRANK DAMIANO JR
Phone
5164890888
Tax Period
2023-07-01 to 2024-06-30

LOCAL 1298 MARKET RECOVERY PROGRAM INC, founded in 2018, is a small nonprofit in the Employment sector that reported $873K in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $451K, a strong 52% operating margin.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO IMPROVE WORK OPPORTUNITIES FOR EMPLOYEES COVERED BY THE LOCAL 1298 COLLECTIVE BARGANING AGREEMENTS.

Program Service Accomplishments

Program 1

THE PURPOSE OF THE ORGANIZATION IS TO IMPROVE WORK OPPORTUNITIES FOR EMPLOYEES COVERED BY THE LOCAL 1298 COLLECTIVE BARGANING AGREEMENTS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $872,835
Investment Income $0
Other Revenue $0
TOTAL REVENUE $872,835

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $421,985
TOTAL EXPENSES $421,985

Year-over-Year Comparison

2023 2022 Change
Revenue $872,835 $738,681 +0.2%
Expenses $421,985 $526,965 -0.2%
Net Income $450,850 $211,716 +1.1%
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

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Governance

Voting Members
7
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
0
$0
Total Directors
7
$3,494,355
Key Employees
1
$513,541
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GEORGE F TRUICKO JR DIRECTOR 0.50
Director
$0 $264,118 $707,164
GEORGE S TRUICKO III DIRECTOR 0.50
Director
$0 $229,882 $601,066
FRANK DAMIANO JR DIRECTOR 1.00
Director
$0 $218,824 $539,200
JAMES WINSHIP BUSINESS REPRESENTATIVE 0.50
Director
$0 $210,821 $491,159
WILLIAM FLYNN VP/BUSINESS REP 0.50
Director
$0 $204,831 $485,378
STEVE AURIGEMA PRESIDENT 0.50
Director
$0 $71,830 $359,917
JAMES CORNELL RECORDING SECRETARY 0.50
Director
$0 $71,830 $310,471
GUY TRUICKO KEY EMPLOYEE 0.50
Key Emp
$0 $218,188 $513,541
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 No data No data No data No data
2024 $872,835 $421,985 $996,110 $450,850
2023 $738,681 $526,965 $545,260 $211,716
2022 $679,154 $883,709 $333,544 $-204,555
2021 $616,309 $650,803 $538,099 $-34,494
2020 $522,893 $334,952 $572,593 $187,941
2019 $465,237 $80,585 $384,652 $384,652
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