SHEET METAL WORKERS LOCAL UNION 88 RETIREE HEALTH REIMBURSEMENT PLAN (EIN 522445383) - 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

2004

Legal Domicile

Principal Officer

MANDI WILKINS

Phone

7027348601

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL WORKERS LOCAL UNION 88 RETIREE HEALTH REIMBURSEMENT PLAN, founded in 2004, is a community nonprofit in the Mutual Benefit sector that reported $2.5M in total revenue in fiscal year 2023. Revenue fell 73% from the prior year — a significant decline worth monitoring. Expenses of $4.5M exceeded revenue, resulting in a 85% operating deficit.

Mission

TO RECEIVE EMPLOYER CONTRIBUTIONS IN ACCORDANCE WITH COLLECTIVE BARGAINING AGREEMENTS IN ORDER TO PROVIDE REIMBURSEMENT OF HEALTH CARE COSTS TO MEMBERS OF THE SHEET METAL WORKERS LOCAL UNION 88.

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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 $2,315,981

Investment Income $136,769

Other Revenue $2,218

TOTAL REVENUE $2,454,968

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $3,515,112

TOTAL EXPENSES $4,538,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,454,968	$9,113,844	-0.7%
Expenses	$4,538,474	$1,084,061	+3.2%
Net Income	$-2,083,506	$8,029,783	-1.3%

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

$441,248

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MANDI WILKINS	MANAGEMENT TRUSTEE - CO-CH	1.00	Director	$0	$0	$0
GEREMIAH ROBNETT	LABOR TRUSTEE - CO-CHAIR	1.00	Director	$0	$80,634	$227,170
SCOTT MCCLURE	MANAGEMENT TRUSTEE	1.00	Director	$0	$0	$0
BILL BENES	LABOR TRUSTEE	1.00	Director	$0	$78,732	$214,078
CARLOS GONZALEZ	MANAGEMENT TRUSTEE - ALTER	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	No data	No data	No data	No data
2023	$2,454,968	$4,538,474	$5,929,827	$-2,083,506
2022	$9,113,844	$1,084,061	$4,468,440	$8,029,783
2021	$1,246,178	$11,447,613	$4,619,091	$-10,201,435
2020	$1,385,468	$4,558,356	$3,342,685	$-3,172,888
2019	$1,305,150	$11,317,236	$2,755,255	$-10,012,086
2018	$766,701	$643,103	$2,183,763	$123,598

SHEET METAL WORKERS LOCAL UNION 88 RETIREE HEALTH REIMBURSEMENT PLAN