Sheet Metal Workers Health & Welfare
- Assets
- $25.7m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 27
- Location
- Parma, OH
- Founding
- 06/1978
- Data as of
- 04/2023
- EIN
- 34-6746427
Organization Overview
Sheet Metal Workers Health & Welfare is located in Parma, OH. The organization was established in 1978. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. As of 04/2023, Sheet Metal Workers Health & Welfare employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheet Metal Workers Health & Welfare is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 04/2023, Sheet Metal Workers Health & Welfare generated $11.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $9.4m during the year ending 04/2023. While expenses have increased by 3.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH AND WELFARE BENEFITS FOR MEMBERS AND THEIR FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES VARIOUS HEALTH AND WELFARE BENEFITS FOR ELIGIBLE MEMBERS AND THEIR FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Stastny Jr Chairman | Trustee | 2 | $0 |
John Anderson Labor Trustee (5/1/22-9/30/22) | Trustee | 1 | $0 |
Hank Strahan Labor Trustee | Trustee | 1 | $0 |
Thomas Martin Secretary/treasurer | Trustee | 2 | $0 |
Don Skala Management Trustee | Trustee | 1 | $0 |
Mike Steidel Management Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Segal Select Consulting | 4/29/22 | $112,550 |
Benesys Administrative Services | 4/29/22 | $302,099 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $10,034,473 |
| Investment income | $525,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $525,081 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,432,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,465,449 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,214 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,511 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,353 |
| Fees for services: Other | $727,581 |
| Advertising and promotion | $0 |
| Office expenses | $61,899 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,527 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,116,582 |
| All other expenses | $0 |
| Total functional expenses | $9,443,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,342,573 |
| Savings and temporary cash investments | $1,471,648 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,550,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,347,805 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,785 |
| Total assets | $25,717,075 |
| Accounts payable and accrued expenses | $49,856 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,856 |
| Net assets without donor restrictions | $25,667,219 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,717,075 |