Sheet Metal Workers Health Plan
Sheet Metal Workers Health Plan consistently maintains strong financial health with growing assets and zero officer compensation.
EIN: 203804404 · Goodlettsvlle, TN · NTEE: Y43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.2M |
| Total Expenses | $3.7M |
| Program Spending | 85% |
| Net Assets | $21.2M |
| Transparency Score | 85/100 |
Is Sheet Metal Workers Health Plan Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sheet Metal Workers Health Plan directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sheet Metal Workers Health Plan
Sheet Metal Workers Health Plan (EIN: 203804404) is a nonprofit organization based in Goodlettsvlle, TN, classified under NTEE code Y43. The organization reported total revenue of $6.2M and total assets of $23.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Metal Workers Health Plan's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sheet Metal Workers Health Plan is a mid-size nonprofit that has been operating for 18 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.2M |
| Total Expenses | $3.7M |
| Surplus / Deficit | +$1.5M |
| Total Assets | $21.2M |
| Total Liabilities | $16K |
| Net Assets | $21.2M |
| Operating Margin | 28.9% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 69.4 months |
Financial Health Grade: A
In 2023, Sheet Metal Workers Health Plan reported a surplus of $1.5M with revenue exceeding expenses, holds 69.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Sheet Metal Workers Health Plan's revenue has declined at a compound annual growth rate (CAGR) of -2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.3% | +6.2% | +13.8% |
| 2022 | -14.4% | -22.8% | -6.3% |
| 2021 | +9.9% | +65.3% | +7.4% |
| 2020 | +13.3% | -35.4% | +21.3% |
| 2019 | -5.4% | +4.3% | +13.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Metal Workers Health Plan 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: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, Sheet Metal Workers Health Plan allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization does not pay its officers, which is highly unusual for an organization of its size and revenue, suggesting a volunteer-led or externally managed structure for leadership.
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 Health Plan's IRS 990 filings:
- Lack of detailed program spending breakdown in provided data, making it difficult to fully assess program efficiency.
Strengths
The following positive indicators were identified for Sheet Metal Workers Health Plan:
- Consistent asset growth, more than doubling from $10.76M in 2015 to $21.23M in 2023.
- Consistently reports 0% officer compensation, indicating efficient use of funds not allocated to executive salaries.
- Revenue consistently exceeds expenses, demonstrating strong financial sustainability and positive net income.
- Low liabilities relative to assets, indicating a healthy balance sheet (e.g., $15.86M liabilities vs $21.23M assets in 2023).
Frequently Asked Questions about Sheet Metal Workers Health Plan
Is Sheet Metal Workers Health Plan a legitimate charity?
Based on AI analysis of IRS 990 filings, Sheet Metal Workers Health Plan (EIN: 203804404) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Sheet Metal Workers Health Plan spend its money?
Sheet Metal Workers Health Plan directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sheet Metal Workers Health Plan tax-deductible?
Sheet Metal Workers Health Plan is registered as a tax-exempt nonprofit (EIN: 203804404). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Sheet Metal Workers Health Plan compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Sheet Metal Workers Health Plan is above average for NTEE category Y43 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sheet Metal Workers Health Plan located?
Sheet Metal Workers Health Plan is headquartered in Goodlettsvlle, Tennessee and files with the IRS under EIN 203804404. It is classified under NTEE code Y43.
How many years of IRS 990 filings does Sheet Metal Workers Health Plan have?
Sheet Metal Workers Health Plan 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 $6.2M in total revenue.
Is Sheet Metal Workers Health Plan a good charity?
Based on the provided financial data, the organization exhibits strong financial health, consistent asset growth, and a notable commitment to not paying officer compensation. These factors suggest a well-managed entity, though a full assessment would require deeper insight into its program effectiveness and specific administrative costs.
How has the organization's asset base changed over time?
The organization's assets have shown significant growth, more than doubling from $10.76 million in 2015 to $21.23 million in 2023, indicating robust financial management and accumulation of reserves.
What is the trend in revenue versus expenses?
Revenue has consistently exceeded expenses over the past decade. For example, in 2023, revenue was $5.16 million against expenses of $3.67 million, demonstrating a healthy financial surplus each year.
Does the organization pay its officers?
No, the organization consistently reports 0% officer compensation across all available filings, which is a significant indicator of its operational structure and cost management.
Filing History
IRS 990 filing history for Sheet Metal Workers Health Plan showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Sheet Metal Workers Health Plan's revenue has declined by 29.9%, moving from $7.4M to $5.2M. Total assets increased by 228.3% over the same period, from $6.5M to $21.2M. Total functional expenses fell by 41.8%, from $6.3M to $3.7M. In its most recent filing year (2023), Sheet Metal Workers Health Plan reported a surplus of $1.5M, with revenue exceeding expenses. The organization holds $16K in liabilities against $21.2M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $21.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.2M | $3.7M | $21.2M | $16K | — | — |
| 2022 | $5.0M | $3.5M | $18.7M | $11K | — | View 990 |
| 2021 | $5.9M | $4.5M | $19.9M | $16K | — | View 990 |
| 2020 | $5.4M | $2.7M | $18.5M | $111K | — | View 990 |
| 2019 | $4.7M | $4.2M | $15.3M | $109K | — | — |
| 2018 | $5.0M | $4.0M | $13.4M | $126K | — | View 990 |
| 2017 | $5.1M | $4.2M | $13.0M | $9K | — | View 990 |
| 2016 | $5.0M | $4.5M | $11.6M | $15K | — | View 990 |
| 2015 | $5.0M | $4.9M | $10.8M | $20K | — | View 990 |
| 2014 | $4.9M | $4.8M | $11.2M | $21K | — | View 990 |
| 2013 | $7.5M | $6.0M | $10.9M | $68K | — | View 990 |
| 2012 | $7.6M | $6.5M | $9.0M | $36K | — | View 990 |
| 2011 | $7.5M | $6.1M | $7.7M | $35K | — | View 990 |
| 2010 | $7.4M | $6.3M | $6.5M | $33K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.2M, expenses of $3.7M, and assets of $21.2M (revenue +2.3% year-over-year).
- 2022: Revenue of $5.0M, expenses of $3.5M, and assets of $18.7M (revenue -14.4% year-over-year).
- 2021: Revenue of $5.9M, expenses of $4.5M, and assets of $19.9M (revenue +9.9% year-over-year).
- 2020: Revenue of $5.4M, expenses of $2.7M, and assets of $18.5M (revenue +13.3% year-over-year).
- 2019: Revenue of $4.7M, expenses of $4.2M, and assets of $15.3M (revenue -5.4% year-over-year).
- 2018: Revenue of $5.0M, expenses of $4.0M, and assets of $13.4M (revenue -2.2% year-over-year).
- 2017: Revenue of $5.1M, expenses of $4.2M, and assets of $13.0M (revenue +2.6% year-over-year).
- 2016: Revenue of $5.0M, expenses of $4.5M, and assets of $11.6M (revenue -0.9% year-over-year).
- 2015: Revenue of $5.0M, expenses of $4.9M, and assets of $10.8M (revenue +1.7% year-over-year).
- 2014: Revenue of $4.9M, expenses of $4.8M, and assets of $11.2M (revenue -33.7% year-over-year).
- 2013: Revenue of $7.5M, expenses of $6.0M, and assets of $10.9M (revenue -1.3% year-over-year).
- 2012: Revenue of $7.6M, expenses of $6.5M, and assets of $9.0M (revenue +0.8% year-over-year).
- 2011: Revenue of $7.5M, expenses of $6.1M, and assets of $7.7M (revenue +1.8% year-over-year).
- 2010: Revenue of $7.4M, expenses of $6.3M, and assets of $6.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sheet Metal Workers Health Plan:
Data Sources and Methodology
This transparency report for Sheet Metal Workers Health Plan 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.