SHEET METAL WORKERS LOCAL UNION NO… - 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

1984

Legal Domicile

Principal Officer

THOMAS REGAN

Phone

7186942500

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL WORKERS LOCAL UNION NO28 LABOR MANAGEMENT COMMITTEE AND TRUST, founded in 1984, is a community nonprofit that reported $5.5M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $7.9M exceeded revenue, resulting in a 46% operating deficit.

Mission

TO IMPROVE COMMUNICATIONS BETWEEN LABOR & MANAGEMENT

Program Service Accomplishments

Program 1

ESTABLISHED TO IMPROVE COMMUNICATIONS BETWEEN LABOR AND MANAGEMENT, SEEK RESOLUTIONS TO PROBLEMS OF MUTUAL CONCERN TO THE INDUSTRY, AND IDENTIFY AND EXPAND WORK OPPORTUNITIES FOR THE SHEET METAL...

ESTABLISHED TO IMPROVE COMMUNICATIONS BETWEEN LABOR AND MANAGEMENT, SEEK RESOLUTIONS TO PROBLEMS OF MUTUAL CONCERN TO THE INDUSTRY, AND IDENTIFY AND EXPAND WORK OPPORTUNITIES FOR THE SHEET METAL WORKERS & EMPLOYERS

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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 $5,380,597

Investment Income $72,104

Other Revenue $0

TOTAL REVENUE $5,452,701

Expense Breakdown

Grants Paid $66,150

Salaries & Benefits $430,401

Fundraising Expenses $0

Other Expenses $7,442,784

TOTAL EXPENSES $7,939,335

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,452,701	$5,825,353	-0.1%
Expenses	$7,939,335	$6,962,981	+0.1%
Net Income	$-2,486,634	$-1,137,628	+1.2%

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

$259,232

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS REGAN	ADMINISTRATOR	40.00	Officer	$152,342	$106,890	$259,232
MILDRED ORTIZ-TORRES	STAFF	40.00	Highest	$136,240	$12,000	$148,240
ERIC MESLIN	TRUSTEE	1.00	Director	$0	$0	$0
MARVIN TAVAREZ	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT ROTOLO	TRUSTEE	1.00	Director	$0	$0	$0
JAMES CALLAHAN	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN NIGRO	TRUSTEE	1.00	Director	$0	$0	$0
VICTOR GANY	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS D'ANGELO	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN BENKOVSKY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL DIGUISSEPPE	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL CUNNEY	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	$5,452,701	$7,939,335	$2,361,108	$-2,486,634
2022	$5,825,353	$6,962,981	$4,239,911	$-1,137,628
2022	$5,710,262	$6,942,692	$4,234,791	$-1,232,430
2021	$6,070,840	$6,120,502	$5,487,105	$-49,662
2020	$6,211,580	$5,038,203	$5,560,846	$1,173,377
2019	$7,506,324	$5,671,777	$4,537,192	$1,834,547
2018	$6,663,432	$6,319,595	$2,527,144	$343,837

SHEET METAL WORKERS LOCAL UNION NO28 LABOR MANAGEMENT COMMITTEE AND TRUST