Is Sheet Metal Workers Local Union No 28 Welfare Fund Legit?

The Sheet Metal Workers Local Union No 28 Welfare Fund appears to be a well-established organization, as indicated by its extensive filing history. The fund consistently reports substantial revenue and expenses, reflecting its role in providing welfare benefits. Over the past few years, the organization has experienced fluctuations in its financial position. For instance, in 2023, it reported expenses of $91,792,079 against revenues of $77,937,864, indicating a deficit for that period. This trend of expenses exceeding revenue is also observed in 2022 and 2021, suggesting a potential draw on assets or a strategic decision to increase benefit payouts. The organization's assets have shown a declining trend in recent years, from a high of $185,717,582 in 2020 to $134,509,419 in 2023. This reduction in assets, coupled with consistent operational deficits, warrants closer examination to understand the long-term sustainability of the fund's current spending patterns. The consistent reporting of 0% officer compensation across all available filings suggests a strong commitment to directing funds towards its primary purpose, which is a positive indicator of financial stewardship and transparency regarding executive pay.