Sheet Metal Workers Local No 7 Zone 2 Health Care (EIN 386075386) - 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

Phone

5173217502

Tax Period

2024-01-01 to 2024-12-31

Sheet Metal Workers Local No 7 Zone 2 Health Care, founded in 1961, is a community nonprofit that reported $7.6M in total revenue in fiscal year 2024. Expenses of $8.5M exceeded revenue, resulting in a 12% operating deficit.

Mission

To provide health and welfare benefits to eligible plan participants

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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 $7,530,720

Investment Income $64,386

Other Revenue $412

TOTAL REVENUE $7,595,518

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,535,717

Other Expenses $674,884

TOTAL EXPENSES $8,535,717

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,595,518	$7,540,988	+0.0%
Expenses	$8,535,717	$7,306,582	+0.2%
Net Income	$-940,199	$234,406	-5.0%

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

N/A

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

$126,562

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE ADAMS	CO - CHAIRPERSON	1.00	Director	$0	$31,983	$126,562
TATE BROWN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES HOLST	TRUSTEE	1.00	Director	$0	$0	$0
BRENT PRINDLE	TRUSTEE	1.00	Director	$0	$0	$0
BEN 4 KANAAR	TRUSTEE	1.00	Director	$0	$0	$0
ROB RAAYMAKER	CO - CHAIRPERSON	1.00	Director	$0	$0	$0
DAVID HUIZINGA	TRUSTEE	1.00	Director	$0	$0	$0
RYAN LITTLE	TRUSTEE	1.00	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	$7,595,518	$8,535,717	$2,227,529	$-940,199
2023	$7,540,988	$7,306,582	$2,838,019	$234,406
2022	$7,098,603	$7,221,075	$2,061,512	$-122,472
2021	$7,025,011	$8,382,736	$2,480,790	$-1,357,725
2020	$6,723,694	$4,637,598	$3,153,071	$2,086,096
2019	$6,343,692	$7,949,244	$2,620,463	$-1,605,552
2018	$7,309,701	$6,231,897	$3,241,315	$1,077,804

Sheet Metal Workers Local No 7 Zone 2 Health Care