Sheet Metal Workers Local #7Zone #3 Welfare Fund

Nonprofit profile at a glance

EIN
381449784
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488139800
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$4,924,797
Expenses
$4,509,389
Assets
$2,697,489
Liabilities
$438,525

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

Leadership & pay

8 people listed

People named in this filing

  • Joseph Dotson (Trustee)
  • John Amalfitano (Trustee)
  • Clay Cooke (Secretary)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide health care benefits under a multi-employer collectively bargained plan.

What it reported doing in 2024

Expenses used to provide and admininster health care benefits to approximately 380 participants.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 94% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 100
  • Accountability: 30
  • Sustainability: 51
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91%; rating input score 91
  • Program expense ratio: 100%; rating input score 100
  • 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.4%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 91% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 36 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 — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.