WELFARE FUND LOCAL NO 16 IATSE

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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

1965

Legal Domicile

Principal Officer

JAMES BEAUMONTE

Phone

9252089999

Tax Period

2024-01-01 to 2024-12-31

WELFARE FUND LOCAL NO 16 IATSE, founded in 1965, is a mid-sized nonprofit that reported $16.2M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $14.5M left a modest 10% surplus.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS IN THIS MULTIEMPLOYER PLAN.

Program Service Accomplishments

Program 1

PROVIDED HEALTH AND WELFARE BENEFITS TO ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS IN THIS MULTIEMPLOYER PLAN.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $15,658,494

Investment Income $505,375

Other Revenue $0

TOTAL REVENUE $16,163,869

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $923,228

TOTAL EXPENSES $14,530,270

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,163,869	$17,455,285	-0.1%
Expenses	$14,530,270	$14,493,318	+0.0%
Net Income	$1,633,599	$2,961,967	-0.4%

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
JAMES BEAUMONTE	CHAIRMAN	1.0	Officer Director	$0	$0	$0
KENNETH RYAN	TRUSTEE	1.0	Director	$0	$0	$0
LANCE HUGHSTON JR	TRUSTEE	1.0	Director	$0	$0	$0
MARY CONDE	TRUSTEE	1.0	Director	$0	$0	$0
ANDREW BENNETT	TRUSTEE	1.0	Director	$0	$0	$0
SHARI BETHEL	TRUSTEE	1.0	Director	$0	$0	$0
JEN GOOD	TRUSTEE	1.0	Director	$0	$0	$0
RAINIER KOENERS	TRUSTEE	1.0	Director	$0	$0	$0
SEE SCH O FOR COMPENSATION	PAID BY RELATED ORGANIZATIONS	1.0	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	$16,163,869	$14,530,270	$21,832,863	$1,633,599
2023	$17,455,285	$14,493,318	$20,657,434	$2,961,967
2022	$15,124,205	$12,576,027	$16,035,612	$2,548,178
2021	$11,369,703	$9,407,652	$11,346,983	$1,962,051
2020	$10,112,301	$13,039,984	$10,149,067	$-2,927,683
2019	$19,456,407	$18,212,365	$17,150,844	$1,244,042
2018	$17,985,313	$14,356,096	$14,316,964	$3,629,217