SHEET METAL WORKERS LOCAL 73 WELFARE FUND (EIN 362145881) - 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

1950

Legal Domicile

Principal Officer

RAYMOND SUGGS

Phone

7084497373

Tax Period

2024-07-01 to 2025-06-30

SHEET METAL WORKERS LOCAL 73 WELFARE FUND, founded in 1950, is a mid-sized nonprofit that reported $61.3M in total revenue in fiscal year 2024. Expenses of $71.5M exceeded revenue, resulting in a 17% operating deficit.

Mission

PROVIDE HEALTH 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 $56,882,844

Investment Income $4,163,690

Other Revenue $238,038

TOTAL REVENUE $61,284,572

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,931,445

Fundraising Expenses $0

Other Expenses $2,023,471

TOTAL EXPENSES $71,530,028

Year-over-Year Comparison

	2024	2023	Change
Revenue	$61,284,572	$59,424,402	+0.0%
Expenses	$71,530,028	$61,586,436	+0.2%
Net Income	$-10,245,456	$-2,162,034	+3.7%

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

108

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

$301,926

Total Directors

$1,214,101

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND SUGGS	TRUSTEE	3.00	Director	$0	$142,237	$381,694
MIKE VITTORIO	TRUSTEE - PAST	3.00	Director	$0	$73,919	$174,377
DAN AHERN	TRUSTEE	3.00	Director	$0	$130,003	$335,106
JAMES S BILLARD	TRUSTEE	3.00	Director	$0	$0	$0
WILLIAM BEUKEMA	TRUSTEE	3.00	Director	$0	$0	$0
TONY ADOLFS	TRUSTEE	3.00	Director	$0	$0	$0
BRIAN MULHERAN	TRUSTEE - NEW	3.00	Director	$0	$126,313	$322,924
PATRICK LUDVIGSEN	ADMINISTRATOR	30.00	Officer	$213,058	$88,868	$301,926
DIANA MASLANKA	WELFARE DEPARTMENT MANAGER	40.00	Highest	$120,172	$42,811	$162,983
JAMES FEINBERG	ASSISTANT ADMINISTRATOR	35.00	Highest	$158,003	$48,525	$206,528
PATRICIA ZIEGLER	PENSION DEPARTMENT MANAGER	5.00	Highest	$100,926	$40,804	$141,730

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	$61,284,572	$71,530,028	$95,918,028	$-10,245,456
2024	$59,424,402	$61,586,436	$101,944,292	$-2,162,034
2023	$64,809,323	$61,941,972	$99,871,910	$2,867,351
2022	$58,026,443	$61,477,689	$98,200,346	$-3,451,246
2021	$56,973,911	$61,215,913	$114,741,482	$-4,242,002
2020	$60,550,716	$64,448,491	$106,177,716	$-3,897,775
2019	$60,338,254	$58,401,819	$112,407,349	$1,936,435
2018	$57,527,324	$56,977,941	$111,113,498	$549,383

SHEET METAL WORKERS LOCAL 73 WELFARE FUND