SHEET METAL WORKERS LOCAL NO 268 WELFARE TRUST FUND (EIN 370842910) - 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

1960

Legal Domicile

Principal Officer

Jeffery R Bauer

Phone

6183971443

Tax Period

2023-07-01 to 2024-06-30

SHEET METAL WORKERS LOCAL NO 268 WELFARE TRUST FUND, founded in 1960, is a mid-sized nonprofit that reported $10.2M in total revenue in fiscal year 2023. The organization ran a surplus of $2.6M, a strong 25% operating margin.

Mission

Operation of a local union health and welfare benefit plan which is designed to provide quality health care to union members and family members, employing contractors and family members, and office personnel. Benefits include prescription drug coverage and life and accident insurance coverage.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,986,874

Investment Income $1,153,220

Other Revenue $20,834

TOTAL REVENUE $10,160,928

Expense Breakdown

Grants Paid $0

Salaries & Benefits $76,512

Fundraising Expenses $0

Program Expenses $0

Other Expenses $273,810

TOTAL EXPENSES $7,595,106

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,160,928	$9,774,569	+0.0%
Expenses	$7,595,106	$7,348,993	+0.0%
Net Income	$2,565,822	$2,425,576	+0.1%

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

$95,250

Total Directors

$290,460

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John LePere	Trustee	1	Director	$0	$0	$99,433
Paul Numi	Trustee	1	Director	$0	$0	$95,777
Jeffery R Bauer	Managing Trustee	10	Officer Director	$0	$0	$95,250
Phil Halliday	Trustee	1	Director	$0	$0	$0
Eric Theiss	Trustee	1	Director	$0	$0	$0
Brad McPherson	Trustee	1	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	No data	No data	No data	No data
2024	$10,160,928	$7,595,106	$16,208,313	$2,565,822
2023	$9,774,569	$7,348,993	$13,692,615	$2,425,576
2022	$6,946,955	$7,080,939	$11,267,532	$-133,984
2021	$9,344,586	$7,861,995	$11,401,462	$1,482,591

SHEET METAL WORKERS LOCAL NO 268 WELFARE TRUST FUND