Sheet Metal Workers Local 58 Welfare Fund

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

8 people listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

To provide medical, dental, hospital, life & vision & disability benefits for members of local union 58.

To provide medical, dental, hospital, life & vision and disability benefits for members of local union 58.

Revenue model: Earned-program. 87% 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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 50%; rating input score 50; 8th percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Limited
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Operating margin: 2.5%; rating input score 43; 43rd percentile among comparable filings
Total-asset coverage ratio: 2.27; rating input score 66; 66th percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
Officer compensation ratio: 7.4%; rating input score 40; 40th percentile among comparable filings

Program expense growth: Limited
Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
Asset growth: 9.7% per year; rating input score 100; 57th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 4 of 8 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $168K · 8 people listed · 0 of 6 pay-setting controls reported
Consistency: 13 of 13 current checks pass
Schedules: 4 filed schedules · includes executive pay
Filing history: 15 filing years from 2010 to 2024
Contacts: How to reach this organization
Related organizations: 4 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.

Signals prioritize questions for review. They are not findings of misconduct.