Sheet Metal Workers 38 Insurance And Welfare Fund

Sheet Metal Workers 38 Insurance And Welfare Fund maintains stable finances with consistent revenue and zero reported officer compensation.

EIN: 131739693 · Brewster, NY · Updated: 2026-03-28

$15.1MRevenue

$17.1MAssets

85/100Mission Score (Excellent)

Is Sheet Metal Workers 38 Insurance And Welfare Fund Legit?

Some Concerns

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

1 FoundRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Sheet Metal Workers 38 Insurance And Welfare Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Sheet Metal Workers 38 Insurance And Welfare Fund

Sheet Metal Workers 38 Insurance And Welfare Fund (EIN: 131739693) is a nonprofit organization based in Brewster, NY. The organization reported total revenue of $15.1M and total assets of $17.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Metal Workers 38 Insurance And Welfare Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Sheet Metal Workers 38 Insurance And Welfare Fund demonstrates consistent financial activity, with revenues and expenses generally in the range of $11-15 million over the past decade. As a welfare fund, its primary purpose is to provide benefits, which would be categorized as program service expenses. The organization consistently reports zero officer compensation, which is a notable aspect of its financial structure, suggesting that executive functions are either volunteer-based or compensated through other means not reported as officer compensation on the 990. The fund maintains a healthy asset base, consistently above $14 million, providing a stable foundation for its operations and benefit obligations. While specific program spending ratios would require a deeper dive into the functional expense breakdown on the 990, the overall financial picture suggests a stable entity focused on its core mission of providing welfare benefits.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Sheet Metal Workers 38 Insurance And Welfare 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: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Sheet Metal Workers 38 Insurance And Welfare Fund allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either uncompensated or compensated through mechanisms not classified as officer compensation on the IRS Form 990.

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.

Red Flags

The following concerns were identified during AI analysis of Sheet Metal Workers 38 Insurance And Welfare Fund's IRS 990 filings:

NTEE Code is unknown, which can make it harder to categorize and compare with similar organizations.

Strengths

The following positive indicators were identified for Sheet Metal Workers 38 Insurance And Welfare Fund:

Consistent reporting of 0% officer compensation, indicating efficient use of funds or volunteer leadership.
Stable revenue and expense patterns over a decade, demonstrating financial predictability.
Healthy asset base, consistently above $14 million, providing financial security for its beneficiaries.
Consistent filing of IRS Form 990s, indicating good compliance and transparency.

Frequently Asked Questions about Sheet Metal Workers 38 Insurance And Welfare Fund

Is Sheet Metal Workers 38 Insurance And Welfare Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Sheet Metal Workers 38 Insurance And Welfare Fund (EIN: 131739693) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.

How does Sheet Metal Workers 38 Insurance And Welfare Fund spend its money?

Sheet Metal Workers 38 Insurance And Welfare Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Sheet Metal Workers 38 Insurance And Welfare Fund tax-deductible?

Sheet Metal Workers 38 Insurance And Welfare Fund is registered as a tax-exempt nonprofit (EIN: 131739693). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Sheet Metal Workers 38 Insurance And Welfare Fund a good charity?

As a welfare fund, its primary purpose is to provide benefits to its members, not operate as a traditional public charity. Its financial stability and consistent reporting of zero officer compensation are positive indicators for its operational integrity.

How does the fund manage its expenses relative to its revenue?

The fund generally manages its expenses close to its revenue. For example, in 2023, revenue was $13,979,955 and expenses were $13,322,453, showing a slight surplus. There have been years with deficits, such as 2021 (Revenue $12.8M, Expenses $13.8M), but overall, it maintains a balanced financial position.

What is the trend in the fund's assets?

The fund's assets have generally remained robust, fluctuating between approximately $14.9 million and $19.2 million over the past decade, indicating a strong financial reserve to meet its obligations.

Filing History

IRS 990 filing history for Sheet Metal Workers 38 Insurance And Welfare Fund showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Sheet Metal Workers 38 Insurance And Welfare Fund's revenue has grown by 53.7%, moving from $9.1M to $14.0M. Total assets decreased by 10.4% over the same period, from $19.2M to $17.2M. Total functional expenses rose by 51.5%, from $8.8M to $13.3M. In its most recent filing year (2023), Sheet Metal Workers 38 Insurance And Welfare Fund reported a surplus of $658K, with revenue exceeding expenses. The organization holds $1.8M in liabilities against $17.2M in assets (debt-to-asset ratio: 10.2%), resulting in net assets of $15.5M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$14.0M	$13.3M	$17.2M	$1.8M	—	—
2022	$14.2M	$12.7M	$15.8M	$1.7M	—	—
2021	$12.9M	$13.9M	$18.2M	$3.4M	—	View 990
2020	$11.8M	$11.9M	$18.7M	$2.6M	—	—
2019	$13.5M	$12.1M	$17.8M	$2.2M	—	View 990
2018	$12.0M	$11.8M	$14.9M	$1.7M	—	View 990
2017	$12.4M	$12.1M	$16.0M	$2.5M	—	—
2016	$7.8M	$11.2M	$14.9M	$1.9M	—	View 990
2015	$10.2M	$11.5M	$18.4M	$2.3M	—	View 990
2014	$8.6M	$9.8M	$19.3M	$88K	—	View 990
2013	$8.8M	$8.9M	$20.5M	$20K	—	View 990
2012	$8.4M	$8.4M	$20.3M	$25K	—	View 990
2011	$9.1M	$8.8M	$19.2M	$32K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $14.0M, expenses of $13.3M, and assets of $17.2M (revenue -1.3% year-over-year).
2022: Revenue of $14.2M, expenses of $12.7M, and assets of $15.8M (revenue +10.0% year-over-year).
2021: Revenue of $12.9M, expenses of $13.9M, and assets of $18.2M (revenue +9.4% year-over-year).
2020: Revenue of $11.8M, expenses of $11.9M, and assets of $18.7M (revenue -12.8% year-over-year).
2019: Revenue of $13.5M, expenses of $12.1M, and assets of $17.8M (revenue +12.9% year-over-year).
2018: Revenue of $12.0M, expenses of $11.8M, and assets of $14.9M (revenue -3.5% year-over-year).
2017: Revenue of $12.4M, expenses of $12.1M, and assets of $16.0M (revenue +58.9% year-over-year).
2016: Revenue of $7.8M, expenses of $11.2M, and assets of $14.9M (revenue -23.7% year-over-year).
2015: Revenue of $10.2M, expenses of $11.5M, and assets of $18.4M (revenue +18.6% year-over-year).
2014: Revenue of $8.6M, expenses of $9.8M, and assets of $19.3M (revenue -2.6% year-over-year).
2013: Revenue of $8.8M, expenses of $8.9M, and assets of $20.5M (revenue +5.4% year-over-year).
2012: Revenue of $8.4M, expenses of $8.4M, and assets of $20.3M (revenue -7.7% year-over-year).
2011: Revenue of $9.1M, expenses of $8.8M, and assets of $19.2M.

Data Sources and Methodology

This transparency report for Sheet Metal Workers 38 Insurance And Welfare 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.