Teamsters Local 1932 Health and We… - 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

2020

Legal Domicile

Principal Officer

Randy Korgan

Phone

9095202618

Tax Period

2024-07-01 to 2025-06-30

Teamsters Local 1932 Health and Welfare Trust, founded in 2020, is a major nonprofit that reported $114.6M in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $21.5M, a strong 19% operating margin.

Mission

TO PROVIDE INSURANCE COVERAGE TO PARTICIPANTS AND FAMILY MEMBERS FROM CONTRIBUTIONS PAID BY THE COUNTY OF SAN BERNARDINO.

Program Service Accomplishments

Program 1

To provide insurance coverage to participants and family members from contributions paid by the county of San Bernardino.

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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 $112,120,863

Investment Income $2,510,694

Other Revenue $0

TOTAL REVENUE $114,631,557

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $2,198,749

TOTAL EXPENSES $93,083,146

Year-over-Year Comparison

	2024	2023	Change
Revenue	$114,631,557	$95,177,670	+0.2%
Expenses	$93,083,146	$79,723,429	+0.2%
Net Income	$21,548,411	$15,454,241	+0.4%

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
Randy Korgan	Trustee	2.0	Director	$0	$0	$0
Kathleen Brennan	Trustee	2.0	Director	$0	$0	$0
Louis Fiorino	Trustee	2.0	Director	$0	$0	$0
Carlos Gonzalez	Trustee - Alternate	2.0	Director	$0	$0	$0
BARBARA WHITTINGTON	TRUSTEE - ALTERNATE	2.0	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	$114,631,557	$93,083,146	$97,697,185	$21,548,411
2024	$95,177,670	$79,723,429	$73,678,695	$15,454,241
2023	$70,134,479	$55,355,840	$27,779,960	$14,778,639
2022	$46,763,716	$42,998,444	$9,230,503	$3,765,272
2021	$21,593,658	$22,300,844	$5,644,509	$-707,186
2020	$22,864,551	$21,579,355	$8,479,601	$1,285,196

Teamsters Local 1932 Health and Welfare Trust