Sheet Metal Workers Local 45
Legal name: Central Iowa Sheet Metal Workers Health Fund
Nonprofit profile at a glance
- EIN
- 421378576
- IRS 990 coverage
- 2014–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025
- Location
- Des Moines, IA, United States
- Phone
- 515-262-7421
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $9,553,855
- Expenses
- $7,252,792
- Assets
- $19,159,647
- Liabilities
- $836,989
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
6 people listed
People named in this filing
- ANDY BREDESON (TRUSTEE/CHAI)
- LARRY FERRISS (TRUSTEE)
- MITCH GOLAY (TRUSTEE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Sheet Metal Workers Local 45 aims to create an environment that encourages respect and rewards excellence, and provides access to a trained, OSHA-trained sheet metal workforce for contractors and projects in Central Iowa. Our goal at Sheet Metal Workers Local 45 is to create an environment that encourages respect and rewards excellence. Our experienced, highly trained membership provide a wealth of knowledge, that ensures our contractors maintain their flawless reputations of delivering the highest quality end product. READILY AVAILABLE All it takes is one phone call and Local 45 will provide the qualified work force needed for your project. Our trained membership will help keep your project on time, and on budget. If your project requires a qualified sheet metal contractor, you can search view our contractor listing by clicking here.
What it reported doing in 2025
To provide health and welfare benefits to qualified participants and their dependents.
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 70
- Sustainability: 74
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 24.1%; rating input score 77; 77th percentile among comparable filings
- Total-asset coverage ratio: 2.64; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 62; 62nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 8.7% per year; rating input score 100; 52nd percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2014 to 2025
- Contacts: How to reach this organization
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.