SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY WELFARE FUND

EIN: 222586287

CARLSTADT, NJ

Total Revenue
$12,760,226
Total Expenses
$12,577,308
Total Assets
$29,036,759
Net Assets
$27,862,253
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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
1985
Legal Domicile
NJ
Phone
2015070330
Tax Period
2024-01-01 to 2024-12-31

SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY WELFARE FUND, founded in 1985, is a mid-sized nonprofit that reported $12.8M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Net assets of $27.9M represent 26 months of operating reserves.

Mission

THE FUND PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUG, VISION, LIFE INSURANCE AND OTHER BENEFITS TO ITS MEMBERS AND THEIR ELIGIBLE DEPENDENTS.

Program Service Accomplishments

Program 1

THE FUND PROVIDES HOSPITAL, SURGICAL, MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUG, VISION, LIFE INSURANCE AND OTHER BENEFITS TO ITS MEMBERS AND THEIR ELIGIBLE DEPENDENTS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $12,127,142
Investment Income $626,498
Other Revenue $6,586
TOTAL REVENUE $12,760,226

Expense Breakdown

Grants Paid $0
Salaries & Benefits $535,914
Fundraising Expenses $0
Other Expenses $573,863
TOTAL EXPENSES $12,577,308

Year-over-Year Comparison

2024 2023 Change
Revenue $12,760,226 $13,984,399 -0.1%
Expenses $12,577,308 $12,486,633 +0.0%
Net Income $182,918 $1,497,766 -0.9%
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

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Governance

Voting Members
6
Independent Members
N/A
Employees
8
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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KARLEEN O'NEILL ADMINISTRATOR/ CONTROLLER 50.00
$156,894 $81,011 $237,905
VIRGINIA OLSEN ASSOC ADMINISTRA. 40.00
$140,808 $85,162 $225,970
JOSEPH DEMARK JR Trustee 5.00
Director
$0 $0 $0
CRAIG HOFFMANN Trustee 5.00
Director
$0 $0 $0
NICHOLAS COSTA Trustee 5.00
Director
$0 $0 $0
JOSEPH MELAHN Trustee 5.00
Director
$0 $0 $0
MARK MIHAL Trustee 5.00
Director
$0 $0 $0
LORI ESHENAUR Trustee 5.00
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 $12,760,226 $12,577,308 $29,036,759 $182,918
2023 $13,984,399 $12,486,633 $26,831,737 $1,497,766
2022 $12,372,350 $12,740,134 $25,094,876 $-367,784
2021 $13,800,280 $11,794,850 $26,617,472 $2,005,430
2020 $12,607,598 $10,845,789 $22,768,131 $1,761,809
2019 $13,313,147 $11,891,234 $19,565,225 $1,421,913
2018 $12,248,834 $12,929,404 $16,494,554 $-680,570
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