Sheet Metal Workers Local 7 Zone 3 Welfare Fund
- Assets
- $2.0m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Troy, MI
- Founding
- 07/1955
- Data as of
- 04/2023
- EIN
- 38-1449784
Organization Overview
Sheet Metal Workers Local 7 Zone 3 Welfare Fund is located in Troy, MI. The organization was established in 1955. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 04/2023, Sheet Metal Workers Local 7 Zone 3 Welfare Fund employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheet Metal Workers Local 7 Zone 3 Welfare Fund 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 Local 7 Zone 3 Welfare Fund generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $4.2m during the year ending 04/2023. While expenses have increased by 2.9% 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 CARE BENEFITS UNDER A MULTI-EMPLOYER COLLECTIVELY BARGAINED PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES USED TO PROVIDE AND ADMININSTER HEALTH CARE BENEFITS TO APPROXIMATELY 380 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Eastman Trustee | 1 | $0 | |
Wayne Stover Trustee | 1 | $0 | |
Clay Cooke Trustee | Trustee | 1 | $0 |
Kevin Wendling Trustee | Trustee | 1 | $0 |
Chris Mcfarland Trustee | Trustee | 1 | $0 |
Chris Stockwell Trustee | Trustee | 1 | $0 |
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 | $3,302,551 |
| Investment income | $34,624 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,311,059 |
| 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 | $3,952,530 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,249 |
| Fees for services: Accounting | $10,932 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,701 |
| Fees for services: Other | $135,709 |
| Advertising and promotion | $0 |
| Office expenses | $47,160 |
| 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 | $2,463 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,403 |
| All other expenses | $0 |
| Total functional expenses | $4,190,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $515,353 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $277,807 |
| 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 | $60,586 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,122,516 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,976,262 |
| Accounts payable and accrued expenses | $543,402 |
| 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 | $543,402 |
| Net assets without donor restrictions | $0 |
| 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 | $1,432,860 |
| Total liabilities and net assets/fund balances | $1,976,262 |