Sheet Metal Workers Local Union No 28 Education Fund
Sheet Metal Workers Local Union No 28 Education Fund shows strong asset growth and consistent surpluses, but liabilities have significantly increased.
EIN: 132954115 · Jamaica, NY · NTEE: B30 · Updated: 2026-03-28
Is Sheet Metal Workers Local Union No 28 Education Fund 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 Local Union No 28 Education Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sheet Metal Workers Local Union No 28 Education Fund
Sheet Metal Workers Local Union No 28 Education Fund (EIN: 132954115) is a nonprofit organization based in Jamaica, NY, classified under NTEE code B30. The organization reported total revenue of $5.5M and total assets of $25.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Metal Workers Local Union No 28 Education Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sheet Metal Workers Local Union No 28 Education Fund with a Mission Score of 80 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: 85%
- fundraising: 5%
According to IRS 990 filings, Sheet Metal Workers Local Union No 28 Education Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 executive leadership is either unpaid or compensated through a related entity, which is a positive sign for resource allocation directly to the mission.
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 Local Union No 28 Education Fund's IRS 990 filings:
- Significant increase in liabilities from $407,589 in 2021 to $9,989,615 in 2023 without clear explanation in summary data.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary makes precise spending efficiency difficult to assess.
Strengths
The following positive indicators were identified for Sheet Metal Workers Local Union No 28 Education Fund:
- Consistent revenue generation, with latest revenue at $5,401,298.
- Strong asset growth, increasing from $5,516,894 in 2014 to $25,088,655 in 2023.
- Consistent operational surpluses, indicating sound financial management.
- 0% reported officer compensation across all filings, suggesting efficient use of funds or volunteer leadership.
Frequently Asked Questions about Sheet Metal Workers Local Union No 28 Education Fund
Is Sheet Metal Workers Local Union No 28 Education Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Sheet Metal Workers Local Union No 28 Education Fund (EIN: 132954115) some concerns. Mission Score: 80/100. 2 red flags identified, 4 strengths noted.
How does Sheet Metal Workers Local Union No 28 Education Fund spend its money?
Sheet Metal Workers Local Union No 28 Education Fund directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sheet Metal Workers Local Union No 28 Education Fund tax-deductible?
Sheet Metal Workers Local Union No 28 Education Fund is registered as a tax-exempt nonprofit (EIN: 132954115). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Sheet Metal Workers Local Union No 28 Education Fund a good charity?
Based on the available data, the fund appears to be financially healthy with consistent surpluses and significant asset growth. The absence of reported officer compensation is a strong positive. However, a detailed breakdown of program spending versus administrative and fundraising costs would provide a more complete picture of its charitable effectiveness.
Why have the liabilities increased so significantly?
The liabilities have grown from $407,589 in 2021 to $9,989,615 in 2023. This substantial increase warrants further investigation into the nature of these liabilities (e.g., loans, deferred revenue, pension obligations) to understand their impact on the fund's financial position.
What is the primary source of the fund's revenue?
While the specific sources are not detailed in the provided summary, given its nature as a union education fund, revenue likely comes from employer contributions, union member dues, or investment income.
How does the fund ensure its educational programs are effective?
The provided financial data does not offer insights into program effectiveness or outcomes. To assess this, one would need to review program reports, impact assessments, or other qualitative data from the organization.
Filing History
IRS 990 filing history for Sheet Metal Workers Local Union No 28 Education Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sheet Metal Workers Local Union No 28 Education Fund's revenue has grown by 100.9%, moving from $2.7M to $5.4M. Total assets increased by 471.1% over the same period, from $4.4M to $25.1M. Total functional expenses rose by 87.1%, from $2.1M to $3.9M. In its most recent filing year (2023), Sheet Metal Workers Local Union No 28 Education Fund reported a surplus of $1.5M, with revenue exceeding expenses. The organization holds $10.0M in liabilities against $25.1M in assets (debt-to-asset ratio: 39.8%), resulting in net assets of $15.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $5.4M | $3.9M | $25.1M | $10.0M | — | — |
| 2022 | $4.8M | $3.4M | $20.0M | $6.4M | — | View 990 |
| 2021 | $5.4M | $3.5M | $12.6M | $408K | — | View 990 |
| 2020 | $4.0M | $3.7M | $11.5M | $701K | — | View 990 |
| 2019 | $4.8M | $4.1M | $10.2M | $118K | — | View 990 |
| 2018 | $5.1M | $3.9M | $9.5M | $131K | — | View 990 |
| 2017 | $4.6M | $3.6M | $8.3M | $64K | — | View 990 |
| 2016 | $4.5M | $3.4M | $7.3M | $77K | — | View 990 |
| 2015 | $3.9M | $2.9M | $6.3M | $89K | — | View 990 |
| 2014 | $4.1M | $2.8M | $5.5M | $264K | — | View 990 |
| 2013 | $3.2M | $2.9M | $4.2M | $452K | — | View 990 |
| 2012 | $3.9M | $2.6M | $3.5M | $82K | — | View 990 |
| 2011 | $2.7M | $2.1M | $4.4M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.4M, expenses of $3.9M, and assets of $25.1M (revenue +12.1% year-over-year).
- 2022: Revenue of $4.8M, expenses of $3.4M, and assets of $20.0M (revenue -10.4% year-over-year).
- 2021: Revenue of $5.4M, expenses of $3.5M, and assets of $12.6M (revenue +35.7% year-over-year).
- 2020: Revenue of $4.0M, expenses of $3.7M, and assets of $11.5M (revenue -17.7% year-over-year).
- 2019: Revenue of $4.8M, expenses of $4.1M, and assets of $10.2M (revenue -5.6% year-over-year).
- 2018: Revenue of $5.1M, expenses of $3.9M, and assets of $9.5M (revenue +11.7% year-over-year).
- 2017: Revenue of $4.6M, expenses of $3.6M, and assets of $8.3M (revenue +1.9% year-over-year).
- 2016: Revenue of $4.5M, expenses of $3.4M, and assets of $7.3M (revenue +15.2% year-over-year).
- 2015: Revenue of $3.9M, expenses of $2.9M, and assets of $6.3M (revenue -5.1% year-over-year).
- 2014: Revenue of $4.1M, expenses of $2.8M, and assets of $5.5M (revenue +27.7% year-over-year).
- 2013: Revenue of $3.2M, expenses of $2.9M, and assets of $4.2M (revenue -17.6% year-over-year).
- 2012: Revenue of $3.9M, expenses of $2.6M, and assets of $3.5M (revenue +44.7% year-over-year).
- 2011: Revenue of $2.7M, expenses of $2.1M, and assets of $4.4M.
Data Sources and Methodology
This transparency report for Sheet Metal Workers Local Union No 28 Education 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.