CENTRAL IOWA SHEET METAL WORKERS HEALTH FUND (EIN 421378576) - 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

1990

Legal Domicile

Principal Officer

ANDY BREDESON

Phone

5152627421

Tax Period

2024-01-01 to 2024-12-31

CENTRAL IOWA SHEET METAL WORKERS HEALTH FUND, founded in 1990, is a community nonprofit that reported $9.1M in total revenue in fiscal year 2024. The organization ran a surplus of $1.6M, a strong 17% operating margin.

Mission

THE PLAN AND TRUST WERE ESTABLISHED TO PROVIDE MEDICAL, PRESCRIPTION, DENTAL, AND SHORT-TERM DISABILITY BENEFITS TO QUALIFIED PARTICIPANTS AND THEIR DEPENDENTS. THE PLAN IS A COLLECTIVELY BARGAINED, MULTIEMPLOYER PLAN.

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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 $8,218,509

Investment Income $840,880

Other Revenue $0

TOTAL REVENUE $9,059,389

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $534,664

TOTAL EXPENSES $7,493,927

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,059,389	$8,660,666	+0.0%
Expenses	$7,493,927	$7,269,101	+0.0%
Net Income	$1,565,462	$1,391,565	+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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDY BREDESON	TRUSTEE/CHAI	0.15	Director	$0	$0	$0
LARRY FERRISS	TRUSTEE	0.15	Director	$0	$0	$0
MITCH GOLAY	TRUSTEE	0.15	Director	$0	$0	$0
DAN HAMPTON	TRUSTEE	0.15	Director	$0	$0	$0
JON QUIJANO	TRUSTEE	0.15	Director	$0	$0	$0
TOM WENGERT	TRUSTEE	0.15	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	$9,059,389	$7,493,927	$15,593,719	$1,565,462
2023	$8,660,666	$7,269,101	$14,088,525	$1,391,565
2022	$7,492,410	$7,483,331	$11,694,849	$9,079
2021	$7,137,658	$6,475,942	$12,409,526	$661,716
2020	$7,873,806	$6,603,622	$10,988,365	$1,270,184
2019	$6,502,398	$5,804,568	$9,375,994	$697,830
2018	$5,895,840	$5,729,012	$8,050,953	$166,828

CENTRAL IOWA SHEET METAL WORKERS HEALTH FUND