SHEET METAL WORKERS LOCAL NO 12 WELFARE FUND (EIN 250994888) - 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

1957

Legal Domicile

Principal Officer

GREGORY BLOSE

Phone

4124321142

Tax Period

2024-01-01 to 2024-12-31

SHEET METAL WORKERS LOCAL NO 12 WELFARE FUND, founded in 1957, is a mid-sized nonprofit that reported $22.7M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $21.4M left a modest 6% surplus.

Mission

To pay health and welfare benefits

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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 $21,044,115

Investment Income $1,624,586

Other Revenue $31,917

TOTAL REVENUE $22,700,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $524,397

TOTAL EXPENSES $21,404,847

Year-over-Year Comparison

	2024	2023	Change
Revenue	$22,700,618	$20,651,824	+0.1%
Expenses	$21,404,847	$20,517,778	+0.0%
Net Income	$1,295,771	$134,046	+8.7%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREGORY BLOSE	UNION TRUSTEE	1.00	Director	$0	$0	$0
KEVIN MALLEY	UNION TRUSTEE	1.00	Director	$0	$0	$0
GEOFF FORINGER	UNION TRUSTEE	1.00	Director	$0	$0	$0
JAMES STROTHER	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
JOHN SZYMCZAK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
ADAM RENICK	EMPLOYER TRUSTEE	1.00	Director	$0	$0	$0
TODD DIETRICK	ALTERNATE UNION TRUSTEE	1.00	Director	$0	$0	$0
DONNY LEISHMAN	ALTERNATE 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
2024	$22,700,618	$21,404,847	$44,238,393	$1,295,771
2023	$20,651,824	$20,517,778	$41,348,605	$134,046
2022	$20,126,002	$20,392,212	$39,166,504	$-266,210
2021	$19,934,211	$19,522,616	$43,864,039	$411,595
2020	$19,737,386	$19,917,103	$41,300,685	$-179,717
2019	$20,484,227	$18,017,425	$39,074,375	$2,466,802
2018	$19,368,240	$18,664,290	$34,472,285	$703,950

SHEET METAL WORKERS LOCAL NO 12 WELFARE FUND