Sheet Mental Workers Local 545 Training Fund
Sheet Mental Workers Local 545 Training Fund shows consistent revenue growth and strong asset accumulation with no liabilities.
EIN: 10352616 · Lewiston, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $57K |
| Total Expenses | $50K |
| Program Spending | 90% |
| Net Assets | $61K |
| Transparency Score | 85/100 |
Is Sheet Mental Workers Local 545 Training Fund Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sheet Mental Workers Local 545 Training Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sheet Mental Workers Local 545 Training Fund
Sheet Mental Workers Local 545 Training Fund (EIN: 10352616) is a nonprofit organization based in Lewiston, ME. The organization reported total revenue of $57K and total assets of $61K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Mental Workers Local 545 Training Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sheet Mental Workers Local 545 Training Fund is a micro nonprofit that has been operating for 48 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $57K |
| Total Expenses | $50K |
| Surplus / Deficit | +$8K |
| Total Assets | $61K |
| Net Assets | $61K |
| Operating Margin | 13.3% |
| Months of Reserves | 14.8 months |
Financial Health Grade: A
In 2024, Sheet Mental Workers Local 545 Training Fund reported a surplus of $8K with revenue exceeding expenses, holds 14.8 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2011–2024), Sheet Mental Workers Local 545 Training Fund's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +39.4% | +16.0% | +14.2% |
| 2023 | +9.1% | +86.5% | -3.1% |
| 2022 | +8.9% | +30.5% | +36.0% |
| 2021 | +2.3% | -47.0% | +71.3% |
| 2020 | +4.5% | +6.5% | +2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sheet Mental Workers Local 545 Training Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Sheet Mental Workers Local 545 Training Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $8K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive leadership is either volunteer-based or compensated through other means not classified as officer compensation, which is positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Sheet Mental Workers Local 545 Training Fund:
- Consistent revenue growth, from $30,610 in 2015 to $57,317 in 2024.
- Strong asset accumulation, reaching $61,444 in 2024.
- Zero reported liabilities across all filings, indicating excellent financial stability.
- 0% officer compensation, suggesting efficient use of funds for its mission.
- Consistent IRS 990 filing history (14 filings), demonstrating transparency.
Frequently Asked Questions about Sheet Mental Workers Local 545 Training Fund
Is Sheet Mental Workers Local 545 Training Fund a legitimate charity?
Sheet Mental Workers Local 545 Training Fund (EIN: 10352616) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $57K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Sheet Mental Workers Local 545 Training Fund spend its money?
Sheet Mental Workers Local 545 Training Fund directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Sheet Mental Workers Local 545 Training Fund tax-deductible?
Sheet Mental Workers Local 545 Training Fund is registered as a tax-exempt nonprofit (EIN: 10352616). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Sheet Mental Workers Local 545 Training Fund located?
Sheet Mental Workers Local 545 Training Fund is headquartered in Lewiston, Maine and files with the IRS under EIN 10352616.
How many years of IRS 990 filings does Sheet Mental Workers Local 545 Training Fund have?
Sheet Mental Workers Local 545 Training Fund has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $57K in total revenue.
What specific training programs does the fund support?
The provided data does not detail the specific training programs; further investigation into their mission statement or annual reports would be necessary.
How does the fund generate its revenue?
The data shows consistent revenue generation, increasing from $30,610 in 2015 to $57,317 in 2024, but the sources (e.g., union dues, grants, investments) are not specified.
What are the primary expense categories beyond officer compensation?
With 0% officer compensation, the expenses of $49,699 in 2024 likely cover direct training costs, administrative overhead, and potentially facility or instructor fees, though specific breakdowns are not available.
Filing History
IRS 990 filing history for Sheet Mental Workers Local 545 Training Fund showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Sheet Mental Workers Local 545 Training Fund's revenue has grown by 61.1%, moving from $36K to $57K. Total assets increased by 194.2% over the same period, from $21K to $61K. Total functional expenses rose by 56.6%, from $32K to $50K. In its most recent filing year (2024), Sheet Mental Workers Local 545 Training Fund reported a surplus of $8K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $57K | $50K | $61K | $0 | — | — |
| 2023 | $41K | $43K | $54K | $0 | — | View 990 |
| 2022 | $38K | $23K | $56K | $0 | — | View 990 |
| 2021 | $35K | $18K | $41K | $0 | — | — |
| 2020 | $34K | $33K | $24K | $0 | — | View 990 |
| 2019 | $32K | $31K | $23K | $0 | — | View 990 |
| 2018 | $44K | $35K | $22K | $0 | — | View 990 |
| 2017 | $24K | $29K | $13K | $0 | — | View 990 |
| 2016 | $29K | $34K | $18K | $0 | — | View 990 |
| 2015 | $31K | $36K | $22K | $0 | — | View 990 |
| 2014 | $39K | $33K | $27K | $0 | — | View 990 |
| 2013 | $36K | $34K | $21K | $0 | — | View 990 |
| 2012 | $34K | $36K | $19K | $0 | — | View 990 |
| 2011 | $36K | $32K | $21K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $57K, expenses of $50K, and assets of $61K (revenue +39.4% year-over-year).
- 2023: Revenue of $41K, expenses of $43K, and assets of $54K (revenue +9.1% year-over-year).
- 2022: Revenue of $38K, expenses of $23K, and assets of $56K (revenue +8.9% year-over-year).
- 2021: Revenue of $35K, expenses of $18K, and assets of $41K (revenue +2.3% year-over-year).
- 2020: Revenue of $34K, expenses of $33K, and assets of $24K (revenue +4.5% year-over-year).
- 2019: Revenue of $32K, expenses of $31K, and assets of $23K (revenue -26.7% year-over-year).
- 2018: Revenue of $44K, expenses of $35K, and assets of $22K (revenue +85.9% year-over-year).
- 2017: Revenue of $24K, expenses of $29K, and assets of $13K (revenue -19.4% year-over-year).
- 2016: Revenue of $29K, expenses of $34K, and assets of $18K (revenue -3.8% year-over-year).
- 2015: Revenue of $31K, expenses of $36K, and assets of $22K (revenue -21.6% year-over-year).
- 2014: Revenue of $39K, expenses of $33K, and assets of $27K (revenue +9.9% year-over-year).
- 2013: Revenue of $36K, expenses of $34K, and assets of $21K (revenue +4.6% year-over-year).
- 2012: Revenue of $34K, expenses of $36K, and assets of $19K (revenue -4.5% year-over-year).
- 2011: Revenue of $36K, expenses of $32K, and assets of $21K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sheet Mental Workers Local 545 Training Fund:
Data Sources and Methodology
This transparency report for Sheet Mental Workers Local 545 Training Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.