SHEET METAL WORKERS LOCAL 104 HEALTH CARE PLAN (EIN 942541328) - 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

1979

Legal Domicile

Principal Officer

RICK WERNER

Phone

9252089999

Tax Period

2024-07-01 to 2025-06-30

SHEET METAL WORKERS LOCAL 104 HEALTH CARE PLAN, founded in 1979, is a major nonprofit that reported $127.7M in total revenue in fiscal year 2024.

Mission

TO PROVIDE HEALTH BENEFITS AND SUPPLEMENTAL UNEMPLOYMENT BENEFITS IN THIS 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 $118,746,526

Investment Income $8,925,459

Other Revenue $0

TOTAL REVENUE $127,671,985

Expense Breakdown

Grants Paid $0

Salaries & Benefits $97,498

Fundraising Expenses $0

Other Expenses $5,694,590

TOTAL EXPENSES $135,141,651

Year-over-Year Comparison

	2024	2023	Change
Revenue	$127,671,985	$120,345,642	+0.1%
Expenses	$135,141,651	$126,451,389	+0.1%
Net Income	$-7,469,666	$-6,105,747	+0.2%

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

N/A

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
rick werner	chairman	4.0	Officer Director	$0	$0	$0
SEAN O'DONOGHUE	CO-CHAIRMAN	2.0	Officer Director	$0	$0	$0
keith dias	TRUSTEE - TERM. 07/2024	2.0	Director	$0	$0	$0
eric haynes	TRUSTEE	2.0	Director	$0	$0	$0
BRIAN MASTERS	TRUSTEE	2.0	Director	$0	$0	$0
bob bramlett	trUSTEE	2.0	Director	$0	$0	$0
kathy de jong	trustee - TERM. 08/2024	2.0	Director	$0	$0	$0
duane davies	trustee	2.0	Director	$0	$0	$0
CASEY VAN DEN HEUVEL	trustee	2.0	Director	$0	$0	$0
MIKE NESBITT	trustee	2.0	Director	$0	$0	$0
keith sylva	trustee	2.0	Director	$0	$0	$0
ALICIA MIJARES	TRUSTEE - EFF. 7/2024	2.0	Director	$0	$0	$0
JOSH VALLIS	TRUSTEE - EFF. 11/2024	2.0	Director	$0	$0	$0
MIKE FISHER	TRUSTEE	2.0	Director	$0	$0	$0
TOM TRAYER	TRUSTEE - TERM. 11/2024	2.0	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	$127,671,985	$135,141,651	$216,466,087	$-7,469,666
2024	$120,345,642	$126,451,389	$218,539,934	$-6,105,747
2023	$123,055,352	$131,214,383	$215,361,817	$-8,159,031
2022	$125,609,570	$122,815,151	$215,380,603	$2,794,419
2021	$122,415,535	$119,134,825	$245,411,370	$3,280,710
2020	$136,448,990	$100,169,889	$221,679,948	$36,279,101
2019	$130,343,750	$108,185,069	$207,792,868	$22,158,681
2018	$119,764,405	$108,587,023	$177,956,558	$11,177,382

SHEET METAL WORKERS LOCAL 104 HEALTH CARE PLAN