SHEET METAL WORKERS LOCAL 98 WELFARE FUND (EIN 314397633) - 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

1954

Legal Domicile

Principal Officer

JEFF ROWE

Phone

3045250331

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL WORKERS LOCAL 98 WELFARE FUND, founded in 1954, is a mid-sized nonprofit that reported $10.8M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. The organization ran a surplus of $2.3M, a strong 21% operating margin.

Mission

PROVIDE MEDICAL, DENTAL, VISION, MEDICATIONS, LIFE INSURANCE, & DISABILITY BENEFITS TO UNION MEMBERS.

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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 $0

Program Service Revenue $10,448,283

Investment Income $334,196

Other Revenue $0

TOTAL REVENUE $10,782,479

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,578,954

Other Expenses $935,989

TOTAL EXPENSES $8,514,943

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,782,479	$11,944,476	-0.1%
Expenses	$8,514,943	$13,651,735	-0.4%
Net Income	$2,267,536	$-1,707,259	-2.3%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLINTON UHRIG	TRUSTEE	2.00	Director	$0	$0	$0
JEFF ROWE	TRUSTEE	2.00	Director	$0	$0	$0
CW PARK	SECRETARY	2.00	Director	$0	$0	$0
BOB BILLINGS	TRUSTEE	2.00	Director	$0	$0	$0
RODNEY FRENCH	TRUSTEE	2.00	Director	$0	$0	$0
RONALD WILBURN	TRUSTEE	2.00	Director	$0	$0	$0
KEVIN MIRLISENA	TRUSTEE	2.00	Director	$0	$0	$0
JEFF HUNLEY	CHAIRMAN	2.00	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	No data	No data	No data	No data
2023	$10,782,479	$8,514,943	$13,120,627	$2,267,536
2022	$11,944,476	$13,651,735	$14,847,191	$-1,707,259
2021	$10,105,118	$10,544,953	$15,445,033	$-439,835
2020	$10,246,367	$10,150,539	$15,700,407	$95,828
2019	$9,911,702	$8,999,122	$14,400,827	$912,580
2018	$8,044,650	$8,940,876	$12,307,687	$-896,226

SHEET METAL WORKERS LOCAL 98 WELFARE FUND