SHEET METAL #10 BENEFIT FUND (EIN 410871191) - 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

1952

Legal Domicile

Principal Officer

MATT FAIRBANKS

Phone

6517700991

Tax Period

2024-01-01 to 2024-12-31

SHEET METAL #10 BENEFIT FUND, founded in 1952, is a mid-sized nonprofit that reported $71.3M in total revenue in fiscal year 2024. Expenses of $63.8M left a modest 11% surplus.

Mission

TO PROVIDE HEALTH BENEFITS.

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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 $67,918,366

Investment Income $3,354,220

Other Revenue $28,587

TOTAL REVENUE $71,301,173

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,142

Fundraising Expenses $0

Other Expenses $905,048

TOTAL EXPENSES $63,761,470

Year-over-Year Comparison

	2024	2023	Change
Revenue	$71,301,173	$67,918,835	+0.0%
Expenses	$63,761,470	$61,635,532	+0.0%
Net Income	$7,539,703	$6,283,303	+0.2%

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

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

$635,279

Total Directors

$1,292,395

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT FAIRBANKS	CHAIRMAN	1.00	Officer Director	$0	$129,608	$308,791
MICHAEL CORCORAN	TRUSTEE	1.00	Director	$4,016	$0	$4,016
COLIN BEERE	TRUSTEE	1.00	Director	$0	$101,222	$238,411
JOHN QUARNSTROM	SECRETARY	1.00	Officer Director	$0	$41,067	$326,488
MICHAEL JENSON	TRUSTEE	1.00	Director	$0	$0	$0
ANDY GRAHAM	TRUSTEE	1.00	Director	$0	$0	$0
RASHID KADIR	TRUSTEE	1.00	Director	$0	$0	$0
PETER LEITSCHUH	TRUSTEE	1.00	Director	$2,102	$0	$2,102
JASON DAMMAN	ALTERNATE TRUSTEE	1.00	Director	$0	$110,718	$262,110
CASEY MEINHARDT	ALTERNATE TRUSTEE	1.00	Director	$0	$22,279	$150,477

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	$71,301,173	$63,761,470	$100,987,993	$7,539,703
2023	$67,918,835	$61,635,532	$89,216,841	$6,283,303
2022	$65,914,869	$60,979,375	$76,849,571	$4,935,494
2021	$65,399,612	$59,414,035	$81,918,266	$5,985,577
2020	$59,946,859	$55,047,611	$72,670,171	$4,899,248
2019	$63,601,397	$58,102,998	$67,190,633	$5,498,399
2018	$60,548,328	$53,785,928	$55,999,272	$6,762,400

SHEET METAL #10 BENEFIT FUND