MASONRY SECURITY PLAN OF WASHINGTON

EIN: 916028573

SEATTLE, WA

Total Revenue
$11,406,625
Total Expenses
$12,804,440
Total Assets
$15,762,261
Net Assets
$8,308,883
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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
1954
Legal Domicile
WA
Principal Officer
LORRAINE COOK
Phone
2063294900
Tax Period
2023-01-01 to 2023-12-31

MASONRY SECURITY PLAN OF WASHINGTON, founded in 1954, is a mid-sized nonprofit that reported $11.4M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $12.8M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE PLAN IS A MULTIEMPLOYER HEALTH AND WELFARE PLAN DESIGNED TO PROVIDE BENEFITS FOR ELIGIBLE PARTICIPANTS AND BENEFICIARIES AS SPECIFIED IN THE PLAN DOCUMENT.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $11,109,951
Investment Income $296,674
Other Revenue $0
TOTAL REVENUE $11,406,625

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $1,066,598
TOTAL EXPENSES $12,804,440

Year-over-Year Comparison

2023 2022 Change
Revenue $11,406,625 $9,208,854 +0.2%
Expenses $12,804,440 $11,980,267 +0.1%
Net Income $-1,397,815 $-2,771,413 -0.5%
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

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Governance

Voting Members
10
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
2
$211,403
Total Directors
10
$959,222
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LORRAINE COOK CHAIRWOMAN 1.00
Officer Director
$0 $0 $0
LOWELL GLODOWSKI SECRETARY 1.00
Officer Director
$0 $70,000 $211,403
JUSTIN FRANCE TRUSTEE 1.00
Director
$0 $70,000 $187,586
CORDELL FISCHER TRUSTEE 1.00
Director
$0 $70,000 $190,415
ANGELA HENDERSON TRUSTEE 1.00
Director
$0 $70,000 $183,787
CHRIS ELLIS TRUSTEE 1.00
Director
$0 $70,000 $186,031
TONIA SORRELL-NEAL TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL S FIELD TRUSTEE 1.00
Director
$0 $0 $0
RON ADAMS TRUSTEE 1.00
Director
$0 $0 $0
JOHN DAVIDSON 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 No data No data No data No data
2023 $11,406,625 $12,804,440 $15,762,261 $-1,397,815
2022 $9,208,854 $11,980,267 $16,766,470 $-2,771,413
2021 $9,507,794 $9,795,970 $19,664,941 $-288,176
2020 $9,182,450 $9,777,093 $20,050,030 $-594,643
2019 $10,216,600 $9,535,927 $20,331,275 $680,673
2018 $9,628,059 $7,526,607 $18,952,843 $2,101,452
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