Operating Engineers Local 428 Health & Welfare Trust Fund (EIN 866025730) - 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

1959

Legal Domicile

Principal Officer

Board of Trustees

Phone

6022493582

Tax Period

2023-10-01 to 2024-09-30

Operating Engineers Local 428 Health & Welfare Trust Fund, founded in 1959, is a mid-sized nonprofit that reported $24.5M in total revenue in fiscal year 2023. The organization ran a surplus of $4.3M, a strong 18% operating margin.

Mission

To provide medical and insurance benefits for members.

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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 $0

Program Service Revenue $23,984,924

Investment Income $555,006

Other Revenue $0

TOTAL REVENUE $24,539,930

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $589,879

TOTAL EXPENSES $20,195,863

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,539,930	$23,204,705	+0.1%
Expenses	$20,195,863	$17,176,661	+0.2%
Net Income	$4,344,067	$6,028,044	-0.3%

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
David Martin	Chairman	1.00	Officer Director	$0	$0	$0
Mike Lee	Secretary	1.00	Officer Director	$0	$0	$0
Tim Davies	Trustee	1.00	Director	$0	$0	$0
David Sikorski	Trustee	1.00	Director	$0	$0	$0
Steve Campbell	Trustee	1.00	Director	$0	$0	$0
Jay Stevens	Trustee	1.00	Director	$0	$0	$0
Shannon Wright	Trustee	1.00	Director	$0	$0	$0
David Garbarino	Trustee	1.00	Director	$0	$0	$0
Perry Hawkins	Trustee	1.00	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
2024	$24,539,930	$20,195,863	$62,647,528	$4,344,067
2023	$23,204,705	$17,176,661	$48,188,646	$6,028,044
2022	$19,751,569	$17,093,689	$37,883,672	$2,657,880
2021	$19,859,473	$11,972,516	$41,927,461	$7,886,957
2020	$20,638,613	$17,941,545	$35,316,676	$2,697,068
2019	$17,861,954	$14,923,831	$29,544,067	$2,938,123

Operating Engineers Local 428 Health & Welfare Trust Fund