SHEET METAL WORKERS LOCAL 24 SUPPL… - 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

1993

Legal Domicile

Principal Officer

THOMAS MACEY

Phone

5138727500

Tax Period

2024-06-01 to 2025-05-31

SHEET METAL WORKERS LOCAL 24 SUPPLEMENTAL UNEMPLOYMENT FUND, founded in 1993, is a small nonprofit that reported $700K in total revenue in fiscal year 2024. Revenue surged 39% from the prior year, signaling strong growth momentum. The organization ran a surplus of $425K, a strong 61% operating margin.

Mission

TO PROVIDE SUPPLEMENTAL UNEMPLOYMENT BENEFITS FOR ELIGIBLE MEMBERS OF SHEET METAL WORKERS LOCAL 24 INCLUDING UNEMPLOYMENT COMPENSATION, HEALTH AND WELFARE PREMIUM PAYMENTS, DEATH BENEFITS, DISABILITY BENEFITS, AND SEPARATION BENEFITS.

Program Service Accomplishments

Program 1

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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 $572,129

Investment Income $127,393

Other Revenue $0

TOTAL REVENUE $699,522

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $101,591

TOTAL EXPENSES $274,148

Year-over-Year Comparison

	2024	2023	Change
Revenue	$699,522	$501,514	+0.4%
Expenses	$274,148	$328,565	-0.2%
Net Income	$425,374	$172,949	+1.5%

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

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

$951

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICK COLLINI	TRUSTEE	1.00	Director	$0	$0	$0
DENIEL IMBUS	TRUSTEE	1.00	Director	$0	$0	$0
IVAN PENNINGTON	TRUSTEE	1.00	Director	$951	$0	$951
KATHLEEN UNGER	TRUSTEE	1.00	Director	$0	$0	$0
JOSH JACOBS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
GREG JOHNSON	SECRETARY	1.00	Officer 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	$699,522	$274,148	$4,140,899	$425,374
2024	$501,514	$328,565	$3,586,146	$172,949
2023	$458,986	$222,359	$3,346,684	$236,627
2022	$389,310	$268,597	$3,234,932	$120,713
2021	$288,728	$394,150	$3,354,886	$-105,422
2020	$369,625	$197,965	$3,361,674	$171,660
2019	$340,642	$214,404	$3,102,636	$126,238

SHEET METAL WORKERS LOCAL 24 SUPPLEMENTAL UNEMPLOYMENT FUND