SMART LOCAL 265 WELFARE FUND (EIN 362356062) - 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

1962

Legal Domicile

Phone

6306687260

Tax Period

2024-07-01 to 2025-06-30

SMART LOCAL 265 WELFARE FUND, founded in 1962, is a mid-sized nonprofit that reported $40.3M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion.

Mission

PROVIDE HEALTH, DENTAL, PRESCRIPTION DRUG, VISION AND DEATH BENEFITS COVERING SUBSTANTIALLY ALL PARTICIPATING PERSONS UNDER THE SHEET METAL WORKERS LOCAL 265 UNION'S COLLECTIVE BARGAINING AGREEMENT.

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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 $38,346,855

Investment Income $1,088,222

Other Revenue $837,835

TOTAL REVENUE $40,272,912

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,603,038

Fundraising Expenses $0

Other Expenses $5,014,172

TOTAL EXPENSES $42,182,866

Year-over-Year Comparison

	2024	2023	Change
Revenue	$40,272,912	$33,624,556	+0.2%
Expenses	$42,182,866	$37,459,627	+0.1%
Net Income	$-1,909,954	$-3,835,071	-0.5%

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

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

$1,605,448

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN DAHLMAN	TRUSTEE	3.00	Director	$0	$102,757	$268,990
KEVIN GALASS	TRUSTEE	3.00	Director	$0	$103,959	$278,064
MATTHEW GUGALA	TRUSTEE	3.00	Director	$0	$112,324	$328,745
RON MIKA	TRUSTEE	3.00	Director	$0	$102,421	$267,444
PAT HUDGENS	TRUSTEE	3.00	Director	$0	$0	$0
JOHN SHAW	TRUSTEE	3.00	Director	$0	$0	$0
KEN WIESBROOK	TRUSTEE	3.00	Director	$0	$0	$0
TERRANCE VAN SOMEREN	TRUSTEE	3.00	Director	$0	$0	$0
MIKE CATANZARO	TRUSTEE	3.00	Director	$0	$0	$0
JOHN DANIEL	FORMER TRUSTEE	3.00	Director	$0	$61,013	$196,964
ANDY YONKUS	FORMER TRUSTEE	3.00	Director	$0	$0	$0
TOM SYRON	TRUSTEE	3.00	Director	$0	$102,321	$265,241
EMILY BANDERA	PENSION MANAGER	40.00	Highest	$100,547	$64,732	$165,279
BRIAN DOXIE	CLAIMS MANAGER	40.00	Highest	$112,434	$68,766	$181,200
KATIE EBY	ADMINISTRATOR	40.00	Highest	$184,272	$69,570	$253,842

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	$40,272,912	$42,182,866	$44,221,963	$-1,909,954
2024	$33,624,556	$37,459,627	$41,447,122	$-3,835,071
2023	$30,212,937	$34,391,758	$41,446,905	$-4,178,821
2022	$27,083,938	$37,341,688	$43,023,590	$-10,257,750
2021	$35,875,093	$30,745,562	$56,450,435	$5,129,531
2020	$29,208,770	$29,156,888	$54,434,839	$51,882
2019	$28,627,550	$30,201,374	$54,398,071	$-1,573,824
2018	$27,000,132	$27,188,455	$55,057,353	$-188,323

SMART LOCAL 265 WELFARE FUND