Amalgamated Transit Union Local 587

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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

1912

Legal Domicile

Principal Officer

Kenneth J Price

Phone

2064488588

Tax Period

2023-01-01 to 2023-12-31

Amalgamated Transit Union Local 587, founded in 1912, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2023.

Mission

The Union's mission is to improve the wages, benefits and working conditions of it's members'.

Program Service Accomplishments

Program 1

All expenditures are incurred to further the objectives of the union. The prime objective is to benefit it's members' work agreements and their work environments.

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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 $4,517,672

Investment Income $34,764

Other Revenue $78,912

TOTAL REVENUE $4,631,348

Expense Breakdown

Grants Paid $32,499

Salaries & Benefits $2,080,110

Fundraising Expenses $0

Other Expenses $2,345,551

TOTAL EXPENSES $4,551,341

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,631,348	$4,461,593	+0.0%
Expenses	$4,551,341	$4,283,762	+0.1%
Net Income	$80,007	$177,831	-0.6%

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

117

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

$1,037,905

Total Directors

$1,246,701

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kenneth J Price	President	65.00	Officer Director	$182,047	$33,182	$215,229
Ronald Anderson Sr	1st Vice Presid	65.00	Officer Director	$174,858	$33,182	$208,040
Cory M Rigtrup	2nd Vice Presid	65.00	Officer Director	$174,858	$33,182	$208,040
Tamieko M Cook	Recording Secre	65.00	Officer Director	$172,564	$33,182	$205,746
Paul B Neil	Fin Secre-Treas	65.00	Officer Director	$167,668	$33,182	$200,850
Latrelle A Gibson	Executive Board	6.00	Director	$45,687	$0	$45,687
Jonathon L Futch	Executive Board	6.00	Director	$28,965	$0	$28,965
Michael T Mackay	Executive Board	6.00	Director	$18,680	$0	$18,680
Jake A Seltveit	Executive Board	6.00	Director	$12,532	$0	$12,532
Stanley C Straker	Executive Board	6.00	Director	$11,140	$0	$11,140
Richard Burton	Executive Board	6.00	Director	$9,322	$0	$9,322
Justin E Bollinger	Executive Board	6.00	Director	$8,411	$0	$8,411
Mary J Newton	Executive Board	6.00	Director	$8,121	$0	$8,121
Reginold I Chavis	Executive Board	6.00	Director	$7,561	$0	$7,561
Zematra Bacon	Executive Board	6.00	Director	$7,078	$0	$7,078
Andrew L Price	Executive Board	6.00	Director	$6,856	$0	$6,856
Monique A Lowe	Executive Board	6.00	Director	$6,550	$0	$6,550
Justin C Swanson	Executive Board	6.00	Director	$6,053	$0	$6,053
Peter J Scott	Executive Board	6.00	Director	$5,279	$0	$5,279
Derrick L Hunter	Executive Board	6.00	Director	$4,940	$0	$4,940
Janet C Novotny	Executive Board	6.00	Director	$4,395	$0	$4,395
Arvin P Vulliet	Executive Board	6.00	Director	$4,158	$0	$4,158
Mary Prather	Executive Board	6.00	Director	$4,128	$0	$4,128
Nicholas D Henry	Executive Board	6.00	Director	$3,797	$0	$3,797
Eric K Butler	Executive Board	6.00	Director	$3,076	$0	$3,076
Anthony D Adams	Executive Board	6.00	Director	$2,067	$0	$2,067

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	$4,631,348	$4,551,341	$3,614,664	$80,007
2022	$4,461,593	$4,283,762	$3,537,210	$177,831
2021	$4,495,285	$4,060,510	$3,356,117	$434,775
2020	$4,568,943	$3,970,048	$2,916,937	$598,895
2019	$4,841,774	$4,308,044	$2,326,742	$533,730
2018	$4,510,926	$4,482,077	$1,792,350	$28,849