SHEET METAL WORKERS LOCAL 104 APPRENTICE & JOURNEYMAN TRAINING PROGRAM (EIN 946138707) - 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

1966

Legal Domicile

Principal Officer

Rick Werner

Phone

5104839035

Tax Period

2023-01-01 to 2023-12-31

SHEET METAL WORKERS LOCAL 104 APPRENTICE & JOURNEYMAN TRAINING PROGRAM, founded in 1966, is a mid-sized nonprofit in the Employment sector that reported $11.7M in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $10.1M left a modest 14% surplus.

Mission

SHEET METAL WORKERS LOCAL 104 AND BAY AREA INDUSTRY TRAINING FUND IS A JOINT LABOR-MANAGEMENT TRUST DEDICATED TO PROVIDE MEN AND WOMEN OF THE SHEET METAL INDUSTRY THE

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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 $1,318,255

Program Service Revenue $8,733,128

Investment Income $371,853

Other Revenue $1,303,115

TOTAL REVENUE $11,726,351

Expense Breakdown

Grants Paid $566,900

Salaries & Benefits $6,303,276

Fundraising Expenses $0

Program Expenses $9,367,387

Other Expenses $3,208,756

TOTAL EXPENSES $10,078,932

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,726,351	$19,876,096	-0.4%
Expenses	$10,078,932	$11,301,111	-0.1%
Net Income	$1,647,419	$8,574,985	-0.8%

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
BEN RIVERA	CO-ADMINISTRATORS	40.0	Highest	$195,270	$134,530	$329,800
TIM MYRES	CO-ADMINISTRATORS	40.0	Highest	$195,270	$134,530	$329,800
NATHANIEL J VENNARUCCI	COORDINATOR	40.0	Highest	$197,783	$104,994	$302,777
WILLIAM PICO	FT INSTRUCTOR	40.0	Highest	$195,270	$104,994	$300,264
BRAD DE YOUNG	TRAINING COORDINATOR	40.0	Highest	$194,677	$104,994	$299,671
PAUL D IRWIN	CO-CHAIR/TRUSTEE	2.0	Director	$0	$0	$0
RICK WERNER	CO-CHAIR/TRUSTEE	2.0	Director	$0	$0	$0
JEFF SALVOTTI	TRUSTEE - TERM. 12/2023	2.0	Director	$0	$0	$0
SEAN E O' DONOGHUE	TRUSTEE	2.0	Director	$0	$0	$0
KEITH DIAS	TRUSTEE	2.0	Director	$0	$0	$0
SEAN GREENWOOD	TRUSTEE	2.0	Director	$0	$0	$0
RICHARD KOENIG	TRUSTEE	2.0	Director	$0	$0	$0
CASEY VANDENHEUVEL	TRUSTEE	2.0	Director	$0	$0	$0
KATHY DE JONG	TRUSTEE	2.0	Director	$0	$0	$0
BRIAN WERNER	TRUSTEE	2.0	Director	$0	$0	$0
CHARLIE THROSSEL	TRUSTEE	2.0	Director	$0	$0	$0
BRIAN A MASTERS	TRUSTEE	2.0	Director	$0	$0	$0
STAN CAPELLI	TRUSTEE - EFF. 3/2023	2.0	Director	$0	$0	$0
JASON HUTTON	TRUSTEE - EFF. 12/2023	2.0	Director	$0	$0	$0
SHERI LEARMONTH	TRUSTEE	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
2024	No data	No data	No data	No data
2023	$11,726,351	$10,078,932	$54,022,607	$1,647,419
2022	$19,876,096	$11,301,111	$52,027,601	$8,574,985
2021	$11,273,871	$10,566,491	$46,216,539	$707,380
2020	$11,775,505	$9,798,866	$44,804,521	$1,976,639
2019	$13,137,022	$8,477,557	$42,359,328	$4,659,465
2018	$11,794,749	$8,188,264	$36,557,771	$3,606,485

SHEET METAL WORKERS LOCAL 104 APPRENTICE & JOURNEYMAN TRAINING PROGRAM