SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY WELFARE FUND (EIN 222586287) - 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

1985

Legal Domicile

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

SEE PAGE 2 FOR ORGANIZATION'S MISSION STATEMENT

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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 $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

Governance

Voting Members

Independent Members

N/A

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

Highest Compensated

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

SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY WELFARE FUND