Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund consistently directs 100% of expenses to programs with no officer compensation.
EIN: 160864434 · Buffalo, NY · NTEE: J40Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.0M |
| Total Expenses | $6.2M |
| Program Spending | 100% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $7.5M |
| Transparency Score | 95/100 |
Is Sheet Metal Workers Local Union No 71 And Industry Welfare Trust 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 71 And Industry Welfare Trust Fund directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund (EIN: 160864434) is a nonprofit organization based in Buffalo, NY, classified under NTEE code J40Z. The organization reported total revenue of $10.0M and total assets of $8.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund is a large nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.4M |
| Total Expenses | $6.2M |
| Surplus / Deficit | +$166K |
| Total Assets | $7.8M |
| Total Liabilities | $232K |
| Net Assets | $7.5M |
| Operating Margin | 2.6% |
| Debt-to-Asset Ratio | 3.0% |
| Months of Reserves | 15.0 months |
Financial Health Grade: A
In 2023, Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund reported a surplus of $166K with revenue exceeding expenses, holds 15.0 months of operating reserves (strong position), has a debt-to-asset ratio of 3.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund's revenue has grown at a compound annual growth rate (CAGR) of 5.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.4% | +10.8% | +4.8% |
| 2022 | +7.7% | +11.2% | -2.5% |
| 2021 | +9.9% | +23.0% | +6.9% |
| 2020 | +17.7% | -20.0% | +20.2% |
| 2019 | +2.1% | +18.2% | -8.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Local Union No 71 And Industry Welfare Trust Fund with a Mission Score of 95 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $166K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly unusual for an organization of this size with over $6 million in annual expenses.
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 71 And Industry Welfare Trust Fund's IRS 990 filings:
- Unusually low liabilities relative to assets, which could indicate a lack of transparency if certain obligations are not fully reported (e.g., 2021 liabilities of $28,136 against assets of $7,587,498).
Strengths
The following positive indicators were identified for Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund:
- 100% program spending ratio, indicating maximum efficiency in delivering services.
- Consistent revenue growth, from $4,275,804 in 2019 to $6,391,836 in 2023, demonstrating financial stability.
- Zero reported officer compensation, showing a strong commitment to mission over executive pay.
- Healthy asset growth, from $5,906,205 in 2019 to $7,758,491 in 2023, enhancing long-term sustainability.
- Low liabilities relative to assets, suggesting strong financial solvency and minimal debt burden.
Frequently Asked Questions about Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund
Is Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund (EIN: 160864434) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund spend its money?
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund tax-deductible?
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund is registered as a tax-exempt nonprofit (EIN: 160864434). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund CEO make?
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund's highest-compensated officer earns $6 annually. The organization reported $10.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund is above average for NTEE category J40Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund located?
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund is headquartered in Buffalo, New York and files with the IRS under EIN 160864434. It is classified under NTEE code J40Z.
How many years of IRS 990 filings does Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund have?
Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund has 13 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 $10.0M in total revenue.
Is Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund a good charity?
Based on the IRS 990 data, the organization appears to be a very good charity in terms of financial health and efficiency. It consistently spends 100% of its expenses on program services and reports no officer compensation, indicating a strong commitment to its mission and beneficiaries.
How has the organization's revenue trended over the past five years?
The organization's revenue has shown a strong upward trend over the past five years, increasing from $4,275,804 in 2019 to $6,391,836 in 2023, demonstrating consistent growth and financial stability.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, meaning no officers are compensated directly by the trust fund. This is a significant indicator of its dedication to directing all resources towards its welfare programs.
Are the organization's assets growing?
Yes, the organization's assets have shown consistent growth, increasing from $5,906,205 in 2019 to $7,758,491 in 2023, indicating sound financial management and accumulation of resources.
Filing History
IRS 990 filing history for Sheet Metal Workers Local Union No 71 And Industry Welfare Trust 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 71 And Industry Welfare Trust Fund's revenue has grown by 95.7%, moving from $3.3M to $6.4M. Total assets increased by 7.9% over the same period, from $7.2M to $7.8M. Total functional expenses rose by 130.4%, from $2.7M to $6.2M. In its most recent filing year (2023), Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund reported a surplus of $166K, with revenue exceeding expenses. The organization holds $232K in liabilities against $7.8M in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $7.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.4M | $6.2M | $7.8M | $232K | — | — |
| 2022 | $6.0M | $5.6M | $7.4M | $264K | — | View 990 |
| 2021 | $5.5M | $5.1M | $7.6M | $28K | — | View 990 |
| 2020 | $5.0M | $4.1M | $7.1M | $28K | — | View 990 |
| 2019 | $4.3M | $5.1M | $5.9M | $9K | — | — |
| 2018 | $4.2M | $4.3M | $6.5M | $22K | — | View 990 |
| 2017 | $3.9M | $4.5M | $6.8M | $28K | — | View 990 |
| 2016 | $4.5M | $4.3M | $7.3M | $9K | — | View 990 |
| 2015 | $3.4M | $3.0M | $7.0M | $89K | — | View 990 |
| 2014 | $3.1M | $3.0M | $6.7M | $54K | — | View 990 |
| 2013 | $2.6M | $3.0M | $6.4M | $6K | — | View 990 |
| 2012 | $3.2M | $3.4M | $7.0M | $17K | — | View 990 |
| 2011 | $3.3M | $2.7M | $7.2M | $52K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.4M, expenses of $6.2M, and assets of $7.8M (revenue +7.4% year-over-year).
- 2022: Revenue of $6.0M, expenses of $5.6M, and assets of $7.4M (revenue +7.7% year-over-year).
- 2021: Revenue of $5.5M, expenses of $5.1M, and assets of $7.6M (revenue +9.9% year-over-year).
- 2020: Revenue of $5.0M, expenses of $4.1M, and assets of $7.1M (revenue +17.7% year-over-year).
- 2019: Revenue of $4.3M, expenses of $5.1M, and assets of $5.9M (revenue +2.1% year-over-year).
- 2018: Revenue of $4.2M, expenses of $4.3M, and assets of $6.5M (revenue +7.2% year-over-year).
- 2017: Revenue of $3.9M, expenses of $4.5M, and assets of $6.8M (revenue -13.2% year-over-year).
- 2016: Revenue of $4.5M, expenses of $4.3M, and assets of $7.3M (revenue +32.3% year-over-year).
- 2015: Revenue of $3.4M, expenses of $3.0M, and assets of $7.0M (revenue +11.0% year-over-year).
- 2014: Revenue of $3.1M, expenses of $3.0M, and assets of $6.7M (revenue +15.8% year-over-year).
- 2013: Revenue of $2.6M, expenses of $3.0M, and assets of $6.4M (revenue -17.8% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.4M, and assets of $7.0M (revenue -1.3% year-over-year).
- 2011: Revenue of $3.3M, expenses of $2.7M, and assets of $7.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sheet Metal Workers Local Union No 71 And Industry Welfare Trust Fund:
Data Sources and Methodology
This transparency report for Sheet Metal Workers Local Union No 71 And Industry Welfare Trust 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.