SHEET METAL WORKERS LOCAL UNION NO 17 INSURANCE FUND (EIN 042088633) - 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

1950

Legal Domicile

Principal Officer

RICHARD KEOGH

Phone

6174265646

Tax Period

2023-12-01 to 2024-11-30

SHEET METAL WORKERS LOCAL UNION NO 17 INSURANCE FUND, founded in 1950, is a mid-sized nonprofit that reported $54.7M in total revenue in fiscal year 2023. Expenses of $46.6M left a modest 15% surplus.

Mission

TO PROVIDE HEALTH BENEFITS FOR ELIGIBLE PARTICIPANTS

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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 $51,485,928

Investment Income $2,616,447

Other Revenue $623,991

TOTAL REVENUE $54,726,366

Expense Breakdown

Grants Paid $0

Salaries & Benefits $880,854

Fundraising Expenses $0

Other Expenses $823,494

TOTAL EXPENSES $46,600,375

Year-over-Year Comparison

	2023	2022	Change
Revenue	$54,726,366	$55,343,028	0.0%
Expenses	$46,600,375	$42,108,847	+0.1%
Net Income	$8,125,991	$13,234,181	-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

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

$229,865

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES WOOL	TRUSTEE	10.00	Officer Director	$0	$0	$0
KEVIN GILL	TRUSTEE	10.00	Officer Director	$0	$0	$0
JOSEPH CULLEN	TRUSTEE	10.00	Officer Director	$0	$0	$0
JACK DESMOND	TRUSTEE	10.00	Officer Director	$0	$0	$0
RICHARD KEOGH	TRUSTEE	10.00	Director	$0	$0	$0
ROBERT BUTLER	TRUSTEE	10.00	Director	$0	$0	$0
RICHARD B KEOGH	ADMINISTRATOR	40.00	Key Emp	$165,077	$64,788	$229,865

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	$54,726,366	$46,600,375	$117,678,714	$8,125,991
2023	$55,343,028	$42,108,847	$102,772,790	$13,234,181
2022	$50,015,354	$42,269,588	$88,739,286	$7,745,766
2021	$47,289,162	$38,768,815	$86,646,775	$8,520,347
2020	$38,175,947	$35,372,241	$71,089,053	$2,803,706
2019	$44,513,965	$40,533,072	$65,814,278	$3,980,893
2018	$40,001,487	$35,186,735	$57,722,359	$4,814,752

SHEET METAL WORKERS LOCAL UNION NO 17 INSURANCE FUND