International Brotherhood of Electrical Workers Local 570 (EIN 860029424) - 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

1907

Legal Domicile

Principal Officer

Joshua deSpain

Phone

5206226745

Tax Period

2024-07-01 to 2025-06-30

International Brotherhood of Electrical Workers Local 570, founded in 1907, is a community nonprofit in the Employment sector that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 9% surplus.

Mission

Labor Organizing

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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 $1,797,616

Investment Income $47,934

Other Revenue $116,551

TOTAL REVENUE $1,962,101

Expense Breakdown

Grants Paid $0

Salaries & Benefits $806,912

Fundraising Expenses $0

Other Expenses $943,682

TOTAL EXPENSES $1,780,532

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,962,101	$1,492,140	+0.3%
Expenses	$1,780,532	$1,539,431	+0.2%
Net Income	$181,569	$-47,291	-4.8%

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

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

$149,725

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joshua deSpain	Bus Mgr	40.00	Officer	$107,267	$25,248	$132,515
Scott Toot	President	4.00	Officer	$4,589	$0	$4,589
John Sheets	Exec Board	1.00	Officer	$2,347	$0	$2,347
Thomas Spellman	exam board	1.00	Officer	$1,654	$0	$1,654
William Vanderhoof	Executive Board	1.00	Officer	$1,395	$0	$1,395
David Wallis	Treasurer	1.00	Officer	$900	$0	$900
Adrian Hall	Rec Sec	1.00	Officer	$900	$0	$900
Carlos Romero	Exec Board	1.00	Officer	$825	$0	$825
Steve Butt	Exam Board	1.00	Officer	$750	$0	$750
Charles Adams	Exam Board	1.00	Officer	$625	$0	$625
William Cusack	Exec Board	1.00	Officer	$600	$0	$600
Jonathan Reddoch	Exec Board	1.00	Officer	$600	$0	$600
Richard Dains	Exam Board	1.00	Officer	$500	$0	$500
Nicholas Nolasco	Exam Board	1.00	Officer	$500	$0	$500
Delbert Brewer	Exam Board	1.00	Officer	$375	$0	$375
Robert Sidwell	Executive Board	1.00	Officer	$300	$0	$300
Clayton Fitzgerald	Executive Board	1.00	Officer	$225	$0	$225
Ted Bolding	Exam board	1.00	Officer	$125	$0	$125
William Malloy	Vice President	1.00	Officer	$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	$1,962,101	$1,780,532	$2,074,974	$181,569
2024	$1,492,140	$1,539,431	$1,859,413	$-47,291
2023	$1,773,988	$1,692,023	$1,888,672	$81,965
2022	$1,597,051	$1,426,598	$1,777,274	$170,453
2021	$1,493,744	$1,360,325	$1,684,692	$133,419

International Brotherhood of Electrical Workers Local 570