Sheet Metal Workers Local Union No 32 Health & Welfare Fund (EIN 656088549) - 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

1965

Legal Domicile

Principal Officer

William A Marvel Jr

Phone

8008425899

Tax Period

2023-07-01 to 2024-06-30

Sheet Metal Workers Local Union No 32 Health & Welfare Fund, founded in 1965, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2023. Revenue surged 45% from the prior year, signaling strong growth momentum. The organization ran a surplus of $848K, a strong 17% operating margin.

Mission

The Funds purpose is to provide health and welfare benefits to eligible participants and their dependents under terms of various collective bargaining and participating agreements between the various employers.

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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 $4,926,340

Investment Income $15,339

Other Revenue $0

TOTAL REVENUE $4,941,679

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,093,289

Other Expenses $161,559

TOTAL EXPENSES $4,093,289

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,941,679	$3,416,261	+0.4%
Expenses	$4,093,289	$3,644,170	+0.1%
Net Income	$848,390	$-227,909	-4.7%

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
ROGER L HUDSPETH	TRUSTEE	001.00	Director	$0	$0	$0
WILLIAM A MARVEL JR	CHAIRMAN	001.00	Director	$0	$0	$0
CHRISTOPHER J RITCHIE	TRUSTEE	001.00	Director	$0	$0	$0
JOHN RUDISILL	TRUSTEE	001.00	Director	$0	$0	$0
DANIEL VILLARRUEL	SECRETARY	001.00	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
2025	No data	No data	No data	No data
2024	$4,941,679	$4,093,289	$3,694,859	$848,390
2023	$3,416,261	$3,644,170	$2,575,489	$-227,909
2022	$3,986,309	$3,642,096	$2,789,687	$344,213
2021	$3,176,918	$3,481,546	$2,589,478	$-304,628
2019	$3,045,448	$3,315,685	$3,146,957	$-270,237
2018	$3,162,817	$3,582,701	$3,369,558	$-419,884

Sheet Metal Workers Local Union No 32 Health & Welfare Fund