IRON WORKERS REGIONAL SHOP LOCAL 8… - Form 990 Financial Data

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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

1961

Legal Domicile

Principal Officer

DAVE OSBORNE

Phone

6267927337

Tax Period

2023-07-01 to 2024-06-30

IRON WORKERS REGIONAL SHOP LOCAL 855 WELFARE TRUST, founded in 1961, is a community nonprofit that reported $8.6M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year.

Mission

TO PROVIDE BENEFITS TO PARTICIPANTS AND THEIR BENEFICIARIES

Program Service Accomplishments

Program 1

Expenses: $8,915,358

TO PROVIDE HOSPITAL, MEDICAL, DENTAL, VISION, PRESRIPTION DRUGS, LIFE AND ACCIDENTAL DEATH AND DISMEMBERSHIP BENEFITS FOR APPROXIMATELY 477 PARTICPANTS AND THEIR DEPENDENTS.

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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 $8,367,488

Investment Income $235,819

Other Revenue $0

TOTAL REVENUE $8,603,307

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,915,358

Other Expenses $291,604

TOTAL EXPENSES $8,956,270

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,603,307	$10,427,170	-0.2%
Expenses	$8,956,270	$10,305,365	-0.1%
Net Income	$-352,963	$121,805	-3.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL NEWINGTON	Trustee	0.10	Director	$0	$0	$0
RICHARD BARBOUR	Trustee	0.10	Director	$0	$0	$0
GREG MCCLELLAND	Trustee	0.10	Director	$0	$0	$0
DAVE OSBORNE	Trustee	0.10	Director	$0	$0	$0
KEVIN ROMAK	Trustee	0.10	Director	$0	$0	$0
ERIK SCHMIDLI	Trustee	0.10	Director	$0	$0	$0
JONATHAN PARAMO	Trustee	0.10	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
2025	No data	No data	No data	No data
2024	$8,603,307	$8,956,270	$8,152,654	$-352,963
2023	$10,427,170	$10,305,365	$8,829,355	$121,805
2022	$9,936,291	$9,723,573	$9,073,075	$212,718
2021	$10,386,932	$11,352,507	$9,707,791	$-965,575
2020	$11,479,052	$12,527,697	$10,989,970	$-1,048,645
2019	$12,748,093	$13,336,093	$11,505,505	$-588,000
2018	$14,808,684	$14,152,347	$11,547,326	$656,337

IRON WORKERS REGIONAL SHOP LOCAL 855 WELFARE TRUST