SHEET METAL WORKERS LOCAL #91 HEALTH & WELFARE FUND (EIN 362525679) - 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

1963

Legal Domicile

Principal Officer

ERIC MEIRHAEGHE

Phone

3097870695

Tax Period

2024-01-01 to 2024-12-31

SHEET METAL WORKERS LOCAL #91 HEALTH & WELFARE FUND, founded in 1963, is a mid-sized nonprofit that reported $13.5M in total revenue in fiscal year 2024. Net assets of $43.7M represent 39 months of operating reserves.

Mission

TO PROVIDE HEALTH, DEATH, LIFE, DENTAL, PRESCRIPTION, AND ACCIDENT BENEFITS FOR LOCAL 91 UNION MEMBERS AND THEIR DEPENDENTS

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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 $11,660,960

Investment Income $1,836,222

Other Revenue $-24,444

TOTAL REVENUE $13,472,738

Expense Breakdown

Grants Paid $0

Salaries & Benefits $136,523

Fundraising Expenses $0

Other Expenses $543,076

TOTAL EXPENSES $14,175,200

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,472,738	$12,756,198	+0.1%
Expenses	$14,175,200	$15,155,519	-0.1%
Net Income	$-702,462	$-2,399,321	-0.7%

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
ERIC MEIRHAEGHE	CHAIRMAN	4.00	Officer Director	$0	$0	$0
MARC LAIR	TRUSTEE	0.00	Director	$0	$0	$0
JON GARST-PAST	TRUSTEE	0.00	Director	$0	$0	$0
TOM GABRILSON	TRUSTEE	0.00	Director	$0	$0	$0
AL LANDWEHR	TRUSTEE	0.00	Director	$0	$0	$0
MARK ARNOLD-PAST	TRUSTEE	0.00	Director	$0	$0	$0
MIKE BREDAR	TRUSTEE	0.00	Director	$0	$0	$0
DAVID AVERY	TRUSTEE	0.00	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	$13,472,738	$14,175,200	$45,264,189	$-702,462
2023	$12,756,198	$15,155,519	$44,704,049	$-2,399,321
2022	$13,228,566	$12,258,525	$44,222,130	$970,041
2021	$13,497,704	$2,007,159	$50,702,094	$11,490,545
2020	$11,245,339	$8,607,223	$49,939,764	$2,638,116
2019	$11,755,526	$10,402,875	$45,173,586	$1,352,651
2018	$12,042,700	$9,657,816	$40,359,848	$2,384,884

SHEET METAL WORKERS LOCAL #91 HEALTH & WELFARE FUND