Laborers International Union of North America Local No 348 (EIN 910256837) - 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

1935

Legal Domicile

Principal Officer

Francisco Elguezabal

Phone

5094204581

Tax Period

2025-01-01 to 2025-12-31

Laborers International Union of North America Local No 348, founded in 1935, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2025. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $482K, a strong 16% operating margin.

Mission

LOCAL LABOR UNION PROVIDING negotiation and REPRESENTATION on behalf of its 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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,660,787

Investment Income $304,571

Other Revenue $-9,040

TOTAL REVENUE $2,956,318

Expense Breakdown

Grants Paid $23,950

Salaries & Benefits $1,606,833

Fundraising Expenses $0

Other Expenses $843,752

TOTAL EXPENSES $2,474,535

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,956,318	$2,457,072	+0.2%
Expenses	$2,474,535	$2,372,664	+0.0%
Net Income	$481,783	$84,408	+4.7%

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

$697,005

Total Directors

$1,213,587

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Francisco Elguezabal	Sect/Treasurer	45.00	Officer Director	$156,471	$72,590	$229,061
James Eric Thrift	President	45.00	Officer Director	$134,348	$65,896	$200,244
Richard Stelter	Aud./Exec. Mbr.	43.00	Director	$118,536	$60,811	$179,347
Jessica Bosse Wadsworth	Recording Sect	43.00	Officer Director	$118,104	$60,474	$178,578
Nathan Mack	Auditor	43.00	Director	$116,877	$60,128	$177,005
Richard Glazier	Auditor	43.00	Director	$100,715	$58,565	$159,280
David Gresser	Exec. Board Mbr	43.00	Officer Director	$54,655	$32,917	$87,572
Clint Crider	Vice President	1.00	Officer Director	$600	$0	$600
Michael Kasko	Sgt at Arms	1.00	Director	$600	$0	$600
Donovan Lalka	Exec. Board Mbr	1.00	Officer Director	$500	$0	$500
Lance Fox	Exec. Board Mbr	1.00	Officer Director	$450	$0	$450
Joseph Dunn	Auditor	1.00	Director	$350	$0	$350

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	$2,956,318	$2,474,535	$6,483,395	$481,783
2024	$2,457,072	$2,372,664	$5,534,056	$84,408
2023	$2,641,706	$2,210,691	$5,102,701	$431,015
2022	$2,207,515	$1,943,192	$4,277,120	$264,323
2021	$2,108,989	$1,720,834	$4,731,261	$388,155
2020	$1,988,917	$1,655,471	$4,152,451	$333,446

Laborers International Union of North America Local No 348