SHEET METAL WORKERS WELFARE FUND-22 (EIN 221505211) - 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

JOSEPH MUTI

Phone

9082986030

Tax Period

2024-06-01 to 2025-05-31

SHEET METAL WORKERS WELFARE FUND-22, founded in 1953, is a community nonprofit that reported $8.4M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Net assets of $20.5M represent 29 months of operating reserves.

Mission

TO PROVIDE HEALTH BENEFITS TO 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,245,258

Investment Income $1,204,491

Other Revenue $0

TOTAL REVENUE $8,449,749

Expense Breakdown

Grants Paid $0

Salaries & Benefits $107,507

Fundraising Expenses $0

Other Expenses $403,851

TOTAL EXPENSES $9,111,398

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,449,749	$7,136,537	+0.2%
Expenses	$9,111,398	$6,913,475	+0.3%
Net Income	$-661,649	$223,062	-4.0%

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

N/A

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

$1,066,960

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH MUTI	ADMINISTRATOR	40.00	Director	$68,265	$20,800	$191,462
ANDREW NOVAK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
GREGG WHEATLEY	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JAMES O'REILLY	UNION TRUSTEE	1.00	Director	$0	$103,074	$300,734
JASON ROONEY	UNION TRUSTEE	1.00	Director	$0	$101,692	$291,221
JOHN SHELDON	UNION TRUSTEE	1.00	Director	$0	$100,576	$283,543
MARIO CAVALONE	EMPLOYER 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
2025	$8,449,749	$9,111,398	$21,926,416	$-661,649
2024	$7,136,537	$6,913,475	$21,293,835	$223,062
2023	$6,842,475	$6,162,355	$19,436,804	$680,120
2022	$6,769,322	$5,596,429	$19,076,295	$1,172,893
2021	$6,591,696	$5,192,087	$19,951,452	$1,399,609
2020	$7,205,132	$5,165,915	$16,865,211	$2,039,217
2019	$6,347,603	$3,890,815	$14,234,780	$2,456,788
2018	$5,418,077	$3,791,774	$11,811,949	$1,626,303

SHEET METAL WORKERS WELFARE FUND-22