Sheet Metal Workers Union Local 29 Disability Fund

Nonprofit profile at a glance

EIN
480943228
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Wichita, KS, USA
Phone
3169414313
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Reported finances

Revenue
$179,678
Expenses
$64,894
Assets
$978,838
Liabilities
$654

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

Leadership & pay

4 people listed

Highest reported compensation

  • JEFF TOWNSEND (CHAIRMAN): $144,232 total reported compensation

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

Overview

Mission

To provide disability benefits, life, accidental death & dismemberment insurance, and retiree health benefits for members and retirees.

What it reported doing in 2024

The plan was formed by an agreement between the association of mechanical & sheet metal contractors of Kansas and local union 29 of wichita, ks. The plan covers all members of the union employed under the terms of the collective bargaining agreement with the members of the contractors' association. The plan is subject to the provisions of erisa as amended. The purpose of the plan is to provide disability, life, accidental death & dismembersment insurance, and retiree health insurance benefits for members and retirees.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 99% of its reported program spending for member benefits.

The verdict

SUPPORTED - 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: 30
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.5%; rating input score 20
  • Program expense ratio: 57.6%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 5 of 8 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: 63.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 15.08; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 85.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -8.7% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 20.5% of revenue deployed · 57.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $144K · 4 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 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 20/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.