SHEET METAL WORKERS' LOCAL 73 APPRENTICE FUND AND JOURNEYMEN'S TRAINING FUND (EIN 366127341) - 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

1942

Legal Domicile

Principal Officer

JOSEPH PASSANNANTE

Phone

7085445711

Tax Period

2024-07-01 to 2025-06-30

SHEET METAL WORKERS' LOCAL 73 APPRENTICE FUND AND JOURNEYMEN'S TRAINING FUND, founded in 1942, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2024. Expenses of $3.4M left a modest 8% surplus.

Mission

TO PROVIDE FOR THE SUPPORT, MAINTENANCE AND ADMINISTRATION OF THE PROGRAM FOR THE TRAINING OF APPRENTICES AND JOURNEYMEN.

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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 $3,424,306

Investment Income $220,016

Other Revenue $14,779

TOTAL REVENUE $3,659,101

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,854,895

Fundraising Expenses $0

Other Expenses $527,349

TOTAL EXPENSES $3,382,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,659,101	$3,627,035	+0.0%
Expenses	$3,382,244	$3,435,990	0.0%
Net Income	$276,857	$191,045	+0.4%

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

138

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

$264,568

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE MAY	TRUSTEE	0.50	Director	$0	$0	$0
RAYMOND SUGGS	TRUSTEE	0.50	Director	$0	$0	$0
DAN AHERN	TRUSTEE	0.50	Director	$0	$0	$0
JERRY MANTA	TRUSTEE - PAST	0.50	Director	$0	$0	$0
JAMES CESAK	TRUSTEE	0.50	Director	$0	$0	$0
JOSEPH PASSANNANTE	TRUSTEE	0.50	Director	$0	$0	$0
MIKE SUGGS	TRUSTEE - NEW	0.50	Director	$0	$0	$0
SEAN MULHEARN	APPRENTICE COORDINATOR	45.00	Officer	$165,725	$98,843	$264,568
LEO THIER	INSTRUCTOR	45.00	Highest	$147,581	$104,946	$252,527
CLIFFORD BROOKS	INSTRUCTOR	45.00	Highest	$149,117	$105,231	$254,348
PATRICIA HOFFMAN	INSTRUCTOR	45.00	Highest	$140,509	$101,895	$242,404
DAMIAN ZERMENO	INSTRUCTOR	45.00	Highest	$143,807	$105,371	$249,178

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	$3,659,101	$3,382,244	$7,525,139	$276,857
2024	$3,627,035	$3,435,990	$7,061,117	$191,045
2023	$3,274,309	$3,667,820	$6,878,471	$-393,511
2022	$3,097,248	$3,749,171	$7,201,124	$-651,923
2021	$2,866,955	$3,243,757	$8,723,821	$-376,802
2020	$3,043,693	$3,020,027	$8,431,428	$23,666
2019	$2,990,631	$3,051,861	$8,178,345	$-61,230
2018	$2,794,456	$2,537,506	$7,929,987	$256,950

SHEET METAL WORKERS' LOCAL 73 APPRENTICE FUND AND JOURNEYMEN'S TRAINING FUND