LOCAL 560 IBT RETIREES HOUSING ASSISTANCE FUND INC (EIN 851851414) - 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

2020

Legal Domicile

Principal Officer

JOSEPH DIPALMA

Phone

2018673553

Tax Period

2023-01-01 to 2023-12-31

LOCAL 560 IBT RETIREES HOUSING ASSISTANCE FUND INC, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $717K in total revenue in fiscal year 2023. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $968K exceeded revenue, resulting in a 35% operating deficit.

Mission

PROVIDE FUNDING TO ELDERLY PERSONS WITH FIN'L NEED.

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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 $302,804

Program Service Revenue $0

Investment Income $414,542

Other Revenue $0

TOTAL REVENUE $717,346

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,779

Fundraising Expenses $0

Program Expenses $823,012

Other Expenses $126,580

TOTAL EXPENSES $968,371

Year-over-Year Comparison

	2023	2022	Change
Revenue	$717,346	$28,528,612	-1.0%
Expenses	$968,371	$42,190	+22.0%
Net Income	$-251,025	$28,486,422	-1.0%

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

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

$1,084,493

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH DILEO	DIRECTOR	1.00	Director	$0	$88,639	$201,945
LOUIS RODRIGUEZ	TREASURER DIRECTOR	1.00	Director	$0	$80,503	$197,999
JOSEPH DIPALMA	SECRETARY DIRECTOR	1.00	Director	$0	$85,514	$207,488
NICHOLAS JAYME	DIRECTOR	1.00	Director	$0	$79,458	$192,535
HAROLD WELSH	PRESIDENT DIRECTOR	1.00	Director	$0	$47,187	$93,706
JOHN TIEDEMANN	DIRECTOR	1.00	Director	$0	$5,401	$23,186
ALFELIX PEREZ	DIRECTOR	1.00	Director	$0	$56,476	$167,634

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	$717,346	$968,371	$31,912,095	$-251,025
2022	$28,528,612	$42,190	$29,589,862	$28,486,422
2021	$2,128,243	$200	$2,131,442	$2,128,043

LOCAL 560 IBT RETIREES HOUSING ASSISTANCE FUND INC