SHEET METAL WORKERS INTERNATIONAL ASSOCIATION LOCAL UNION 48 WELFARE (EIN 630330521) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1953

Legal Domicile

Principal Officer

DANIEL WALDEN

Phone

2053229016

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL WORKERS INTERNATIONAL ASSOCIATION LOCAL UNION 48 WELFARE, founded in 1953, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2018. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

PROVIDES HEALTH CARE BENEFITS TO PLAN PARTICIPANTS AND THEIR DEPENDENTS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,135,240

Investment Income $62,281

Other Revenue $192,395

TOTAL REVENUE $3,389,916

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $400,695

TOTAL EXPENSES $3,330,649

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,389,916	$4,540,592	-0.3%
Expenses	$3,330,649	$4,419,033	-0.2%
Net Income	$59,267	$121,559	-0.5%

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

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
JOHNATHAN ATCHISON	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT BOHANNAN	TRUSTEE	2.00	Director	$0	$0	$0
JOSHUA HUNTER	TRUSTEE - PA	2.00	Director	$0	$0	$0
WILLIAM STRICKLAND	TRUSTEE	2.00	Director	$0	$0	$0
KENNETH TODD	TRUSTEE	2.00	Director	$0	$0	$0
DANIEL WALDEN	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW WHITE	TRUSTEE	2.00	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	$3,389,916	$3,330,649	$4,995,799	$59,267
2022	$4,540,592	$4,419,033	$4,630,333	$121,559
2021	$3,719,537	$3,834,269	$4,920,379	$-114,732
2020	$3,243,021	$2,979,965	$5,622,183	$263,056
2019	$2,502,011	$2,473,559	$4,817,317	$28,452
2018	$2,464,161	$2,426,112	$4,582,056	$38,049

SHEET METAL WORKERS INTERNATIONAL ASSOCIATION LOCAL UNION 48 WELFARE