SHEET METAL WORKERS LOCAL UNION NO 1 WELFARE TRUST FUND (EIN 370810664) - 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

1961

Legal Domicile

Principal Officer

DAVID DORFMAN

Phone

8475191880

Tax Period

2024-03-01 to 2025-02-28

SHEET METAL WORKERS LOCAL UNION NO 1 WELFARE TRUST FUND, founded in 1961, is a community nonprofit that reported $9.3M in total revenue in fiscal year 2024.

Mission

PROVIDES MEDICAL CARE COVERAGE FOR MEMBERS OF SHEET METAL WORKERS LOCAL NO. 1

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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 $8,662,513

Investment Income $603,415

Other Revenue $49,937

TOTAL REVENUE $9,315,865

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $493,808

TOTAL EXPENSES $9,713,430

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,315,865	$8,968,230	+0.0%
Expenses	$9,713,430	$8,379,153	+0.2%
Net Income	$-397,565	$589,077	-1.7%

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

N/A

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	Role	Reportable Comp	Other Comp	Total
BRITT EWALT	TRUSTEE	Director	$0	$0	$0
BOB HARMS	TRUSTEE	Director	$0	$0	$0
DAVE GAMBER	TRUSTEE	Director	$0	$0	$0
JOE GENUSA	TRUSTEE	Officer Director	$0	$0	$0
ELIZABETH BLANKENSHIP	TRUSTEE	Director	$0	$0	$0
ROBERT MILLER	TRUSTEE	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
2025	$9,315,865	$9,713,430	$15,093,468	$-397,565
2024	$8,968,230	$8,379,153	$14,923,813	$589,077
2023	$8,006,683	$8,056,099	$15,191,504	$-49,416
2022	$7,669,624	$17,262	$17,516,296	$7,652,362
2021	$7,597,710	$7,589,440	$16,574,464	$8,270
2020	$7,061,255	$6,701,365	$15,147,052	$359,890
2019	$6,882,919	$6,823,271	$13,939,301	$59,648

SHEET METAL WORKERS LOCAL UNION NO 1 WELFARE TRUST FUND