SHEET METAL INDUSTRY APPRENTICE & … - 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

1971

Legal Domicile

Principal Officer

JOHN NIMMONS

Phone

8605292616

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL INDUSTRY APPRENTICE & TRAINING FUND, founded in 1971, is a small nonprofit that reported $598K in total revenue in fiscal year 2023.

Mission

TO PROVIDE TRAINING TO LOCAL 40 SHEET METAL WORKER UNION MEMBERS

Program Service Accomplishments

Program 1

Expenses: $537,846 Revenue: $525,578

TO PROVIDE TRAINING AND APPRENTICE PROGRAMS TO JOUNEYPERSONS AND APPRENTICES.

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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 $52,860

Program Service Revenue $525,578

Investment Income $16,273

Other Revenue $3,655

TOTAL REVENUE $598,366

Expense Breakdown

Grants Paid $0

Salaries & Benefits $328,552

Fundraising Expenses $0

Program Expenses $537,846

Other Expenses $286,070

TOTAL EXPENSES $614,622

Year-over-Year Comparison

	2023	2022	Change
Revenue	$598,366	$592,255	+0.0%
Expenses	$614,622	$466,794	+0.3%
Net Income	$-16,256	$125,461	-1.1%

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

$5,230

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN M BEAL	LABOR TRUSTEE	0.50	Director	$5,230	$0	$5,230
JOHN NIMMONS	LABOR TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL THOMPSON	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
KENNETH R KLEEBERG	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
JOE FERRUCCI	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
BOB BUTLER	LABOR TRUSTEE	0.50	Director	$0	$0	$0
FRED DESCY	LABOR TRUSTEE	0.50	Director	$0	$0	$0
JOHN BURGESS	MANAGEMENT TRUSTEE	0.50	Director	$0	$0	$0
JASON M SHERMAN	TRAINING COORDINATOR	40.00	Highest	$112,369	$94,194	$206,563

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	$598,366	$614,622	$762,577	$-16,256
2022	$592,255	$466,794	$788,004	$125,461
2021	$650,280	$536,929	$663,383	$113,351
2020	$723,713	$557,667	$543,143	$166,046
2019	$676,017	$519,685	$374,498	$156,332
2018	$556,815	$587,617	$222,825	$-30,802

SHEET METAL INDUSTRY APPRENTICE & TRAINING FUND