SHEET METAL WORKERS LOCAL 58 WELFARE FUND (EIN 150564137) - 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

1953

Legal Domicile

Principal Officer

MICHAEL P MORAN

Phone

3154724411

Tax Period

2024-01-01 to 2024-12-31

SHEET METAL WORKERS LOCAL 58 WELFARE FUND, founded in 1953, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Net assets of $5.2M represent 27 months of operating reserves.

Mission

TO PROVIDE MEDICAL, DENTAL, HOSPITAL, LIFE & VISION & DISABILITY BENEFITS FOR MEMBERS OF LOCAL UNION 58.

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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 $2,049,321

Investment Income $258,316

Other Revenue $55,675

TOTAL REVENUE $2,363,312

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,322

Fundraising Expenses $0

Other Expenses $131,302

TOTAL EXPENSES $2,305,035

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,363,312	$2,357,267	+0.0%
Expenses	$2,305,035	$1,998,878	+0.2%
Net Income	$58,277	$358,389	-0.8%

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

$498,952

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY CASTRELLO	TRUSTEE	1.00	Director	$0	$0	$0
PAUL PICCIANO	TRUSTEE	1.00	Director	$0	$0	$0
STEVE PERRY	TRUSTEE	1.00	Director	$0	$0	$0
LOUIS S TESTONE	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY FOSTER	TRUSTEE	1.00	Director	$0	$56,478	$165,331
MICHAEL MORAN	TRUSTEE	1.00	Director	$0	$56,945	$168,183
MARK BUZA	TRUSTEE	1.00	Director	$0	$56,579	$165,438
EARL HALL	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	$2,363,312	$2,305,035	$5,236,438	$58,277
2023	$2,357,267	$1,998,878	$5,107,864	$358,389
2022	$2,564,486	$1,805,555	$4,453,818	$758,931
2021	$2,825,449	$1,475,804	$4,466,646	$1,349,645
2020	$1,974,650	$1,111,127	$3,152,987	$863,523
2019	$1,897,829	$1,487,045	$2,148,370	$410,784
2018	$1,897,554	$1,464,265	$1,653,443	$433,289

SHEET METAL WORKERS LOCAL 58 WELFARE FUND