SHEET METAL LOCAL #10 CONTROL BOAR… - Form 990 Financial Data

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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

1979

Legal Domicile

Principal Officer

MATT FAIRBANKS

Phone

6517700991

Tax Period

2024-07-01 to 2025-06-30

SHEET METAL LOCAL #10 CONTROL BOARD TRUST FUND, founded in 1979, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Expenses of $1.3M left a modest 11% surplus.

Mission

TO PROVIDE ADMINISTRATIVE SERVICES FOR AFFILIATED BENEFIT PLANS

Program Service Accomplishments

Program 1

COLLECT CONTRIBUTIONS DUE TO AFFILIATED BENEFIT PLANS FROM PARTICIPATING EMPLOYERS AND MAKE PAYMENT TO THE PLANS AS REQUIRED BY THE COLLECTIVE BARGAINING AGREEMENT.

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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 $1,288,901

Investment Income $133,980

Other Revenue $0

TOTAL REVENUE $1,422,881

Expense Breakdown

Grants Paid $0

Salaries & Benefits $874,015

Fundraising Expenses $0

Other Expenses $398,863

TOTAL EXPENSES $1,272,878

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,422,881	$1,435,446	0.0%
Expenses	$1,272,878	$1,068,700	+0.2%
Net Income	$150,003	$366,746	-0.6%

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

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

$209,038

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT FAIRBANKS	TRUSTEE - CHAIRMAN	1.00	Officer Director	$0	$0	$0
JASON DAMMAN	TRUSTEE	1.00	Director	$0	$0	$0
COLIN BEERE	TRUSTEE - ALTERNATE	1.00	Director	$0	$0	$0
JOHN QUARNSTROM	TRUSTEE - SECRETARY	1.00	Officer Director	$0	$0	$0
ANDY GRAHAM	TRUSTEE	1.00	Director	$0	$0	$0
CASEY MEINHARDT	TRUSTEE- ALTERNATE	1.00	Director	$0	$0	$0
SHEILA RICE	ADMINISTRATOR	40.00	Officer	$142,935	$66,103	$209,038

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	$1,422,881	$1,272,878	$3,203,223	$150,003
2024	$1,435,446	$1,068,700	$2,960,525	$366,746
2023	$1,372,853	$1,083,279	$2,564,855	$289,574
2023	$1,411,116	$1,081,950	$2,564,855	$329,166
2022	$1,274,076	$1,202,810	$2,060,460	$71,266
2021	$1,230,944	$1,162,605	$2,121,090	$68,339
2020	$1,354,815	$1,220,935	$1,371,942	$133,880
2019	$996,505	$1,078,945	$1,276,872	$-82,440
2018	$982,338	$1,010,034	$1,086,657	$-27,696

SHEET METAL LOCAL #10 CONTROL BOARD TRUST FUND