Sheet Metal Workers Welfare Fund 22
Sheet Metal Workers Welfare Fund 22: Stable Finances, Low Overhead
EIN: 221505211 · Kenilworth, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $8.2M |
| Total Expenses | $6.2M |
| Program Spending | 90% |
| Net Assets | $19.2M |
| Transparency Score | 75/100 |
Is Sheet Metal Workers Welfare Fund 22 Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sheet Metal Workers Welfare Fund 22 directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sheet Metal Workers Welfare Fund 22
Sheet Metal Workers Welfare Fund 22 (EIN: 221505211) is a nonprofit organization based in Kenilworth, NJ. The organization reported total revenue of $8.2M and total assets of $21.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheet Metal Workers Welfare Fund 22's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sheet Metal Workers Welfare Fund 22 is a mid-size nonprofit that has been operating for 74 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.8M |
| Total Expenses | $6.2M |
| Surplus / Deficit | +$680K |
| Total Assets | $19.4M |
| Total Liabilities | $260K |
| Net Assets | $19.2M |
| Operating Margin | 9.9% |
| Debt-to-Asset Ratio | 1.3% |
| Months of Reserves | 37.8 months |
Financial Health Grade: A
In 2023, Sheet Metal Workers Welfare Fund 22 reported a surplus of $680K with revenue exceeding expenses, holds 37.8 months of operating reserves (strong position), has a debt-to-asset ratio of 1.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Sheet Metal Workers Welfare Fund 22's revenue has grown at a compound annual growth rate (CAGR) of 5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.1% | +10.1% | +1.9% |
| 2022 | +2.7% | +7.8% | -4.4% |
| 2021 | -8.5% | +0.5% | +18.3% |
| 2020 | +13.5% | +32.8% | +18.5% |
| 2019 | +17.2% | +2.6% | +20.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1952 |
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 Welfare Fund 22 with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Sheet Metal Workers Welfare Fund 22 allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $680K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.3%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, as 'c0%' likely refers to fundraising costs rather than compensation figures.
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 Metal Workers Welfare Fund 22:
- Consistent revenue growth from $4,189,740 in 2016 to $6,842,475 in 2023.
- Significant asset growth from $7,096,550 in 2016 to $19,436,804 in 2023, demonstrating strong financial health.
- Low liabilities relative to assets, with liabilities at $260,280 in 2023 against $19,436,804 in assets.
Frequently Asked Questions about Sheet Metal Workers Welfare Fund 22
Is Sheet Metal Workers Welfare Fund 22 a legitimate charity?
Based on AI analysis of IRS 990 filings, Sheet Metal Workers Welfare Fund 22 (EIN: 221505211) appears legitimate. Mission Score: 75/100. 0 red flags identified, 3 strengths noted.
How does Sheet Metal Workers Welfare Fund 22 spend its money?
Sheet Metal Workers Welfare Fund 22 directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sheet Metal Workers Welfare Fund 22 tax-deductible?
Sheet Metal Workers Welfare Fund 22 is registered as a tax-exempt nonprofit (EIN: 221505211). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Sheet Metal Workers Welfare Fund 22's spending goes to programs?
Sheet Metal Workers Welfare Fund 22 directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Sheet Metal Workers Welfare Fund 22 located?
Sheet Metal Workers Welfare Fund 22 is headquartered in Kenilworth, New Jersey and files with the IRS under EIN 221505211.
How many years of IRS 990 filings does Sheet Metal Workers Welfare Fund 22 have?
Sheet Metal Workers Welfare Fund 22 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 $8.2M in total revenue.
What does Sheet Metal Workers Welfare Fund 22 do?
Sheet Metal Workers Welfare Fund 22 is a nonprofit organization in the Unknown sector, located in Kenilworth, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Sheet Metal Workers Welfare Fund 22 have?
Sheet Metal Workers Welfare Fund 22 reported total revenue of $8,153,603. Based on 13 IRS 990 filings on record.
What are Sheet Metal Workers Welfare Fund 22's total assets?
Sheet Metal Workers Welfare Fund 22 holds total assets of $21,293,835 as reported in IRS 990 filings.
Where is Sheet Metal Workers Welfare Fund 22 located?
Sheet Metal Workers Welfare Fund 22 is based in Kenilworth, New Jersey.
What is Sheet Metal Workers Welfare Fund 22's EIN?
Sheet Metal Workers Welfare Fund 22's Employer Identification Number (EIN) is 221505211. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Sheet Metal Workers Welfare Fund 22?
Sheet Metal Workers Welfare Fund 22 is classified under NTEE code Unknown (Unknown).
Is Sheet Metal Workers Welfare Fund 22 a registered 501(c)(3)?
Sheet Metal Workers Welfare Fund 22 appears in IRS records (EIN: 221505211). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Sheet Metal Workers Welfare Fund 22 file IRS Form 990?
Yes, Sheet Metal Workers Welfare Fund 22 has 13 IRS Form 990 filings on record. The most recent covers tax period 202305.
What was Sheet Metal Workers Welfare Fund 22's revenue in 2023?
In the 202305 filing period, Sheet Metal Workers Welfare Fund 22 reported total revenue of $6,842,475, total expenses of $6,162,355, and net assets of $19,436,804.
Is Sheet Metal Workers Welfare Fund 22's revenue growing or declining?
Sheet Metal Workers Welfare Fund 22's revenue is relatively stable. Revenue went from $6,769,322 (202205) to $6,842,475 (202305), a +1.1% change. Based on 13 filings on record.
What is Sheet Metal Workers Welfare Fund 22's most recent 990 filing?
The most recent IRS Form 990 filing for Sheet Metal Workers Welfare Fund 22 covers tax period 202305. It shows revenue of $6,842,475, expenses of $6,162,355, total assets of $19,436,804, and liabilities of $260,280.
How much does Sheet Metal Workers Welfare Fund 22 spend on programs vs administration?
Based on IRS 990 analysis, Sheet Metal Workers Welfare Fund 22 allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Sheet Metal Workers Welfare Fund 22 a trustworthy charity?
Based on AI analysis of IRS 990 data, Sheet Metal Workers Welfare Fund 22 appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Sheet Metal Workers Welfare Fund 22's strengths?
Positive indicators for Sheet Metal Workers Welfare Fund 22 include: Consistent revenue growth from $4,189,740 in 2016 to $6,842,475 in 2023.. Significant asset growth from $7,096,550 in 2016 to $19,436,804 in 2023, demonstrating strong financial health.. Low liabilities relative to assets, with liabilities at $260,280 in 2023 against $19,436,804 in assets.. These findings are derived from AI analysis of the organization's financial filings.
How does Sheet Metal Workers Welfare Fund 22 compensate executives?
Executive compensation is not explicitly detailed in the provided data, as 'c0%' likely refers to fundraising costs rather than compensation figures. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the 'c0%' figure in the financial filings relate to executive compensation or other administrative costs?
The 'c0%' figure consistently reported across all years in the provided data refers to fundraising costs, indicating that the organization incurs no direct expenses for fundraising activities. This suggests that administrative expenses (represented by 'x') cover all other operational overhead, including any executive compensation.
Given the consistent growth in assets and revenue, what is the primary driver of this financial stability for a 'Welfare Fund'?
The consistent growth in assets and revenue for a 'Welfare Fund' likely stems from stable contributions from members or employers, coupled with prudent investment strategies of its accumulated assets. The low expense ratios ('x' values relative to 'r' and 'a') suggest efficient management of these funds.
Filing History
IRS 990 filing history for Sheet Metal Workers Welfare Fund 22 showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Sheet Metal Workers Welfare Fund 22's revenue has grown by 82%, moving from $3.8M to $6.8M. Total assets increased by 359.8% over the same period, from $4.2M to $19.4M. Total functional expenses rose by 42.3%, from $4.3M to $6.2M. In its most recent filing year (2023), Sheet Metal Workers Welfare Fund 22 reported a surplus of $680K, with revenue exceeding expenses. The organization holds $260K in liabilities against $19.4M in assets (debt-to-asset ratio: 1.3%), resulting in net assets of $19.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.8M | $6.2M | $19.4M | $260K | — | View 990 |
| 2022 | $6.8M | $5.6M | $19.1M | $269K | — | View 990 |
| 2021 | $6.6M | $5.2M | $20.0M | $235K | — | — |
| 2020 | $7.2M | $5.2M | $16.9M | $188K | — | — |
| 2019 | $6.3M | $3.9M | $14.2M | $174K | — | View 990 |
| 2018 | $5.4M | $3.8M | $11.8M | $158K | — | View 990 |
| 2017 | $5.5M | $3.0M | $10.0M | $330K | — | View 990 |
| 2016 | $4.2M | $2.7M | $7.1M | $140K | — | View 990 |
| 2015 | $5.0M | $2.9M | $5.6M | $126K | — | View 990 |
| 2014 | $3.6M | $3.2M | $3.5M | $148K | — | View 990 |
| 2013 | $3.8M | $4.6M | $3.1M | $175K | — | View 990 |
| 2012 | $3.8M | $3.9M | $3.9M | $204K | — | View 990 |
| 2011 | $3.8M | $4.3M | $4.2M | $531K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.8M, expenses of $6.2M, and assets of $19.4M (revenue +1.1% year-over-year).
- 2022: Revenue of $6.8M, expenses of $5.6M, and assets of $19.1M (revenue +2.7% year-over-year).
- 2021: Revenue of $6.6M, expenses of $5.2M, and assets of $20.0M (revenue -8.5% year-over-year).
- 2020: Revenue of $7.2M, expenses of $5.2M, and assets of $16.9M (revenue +13.5% year-over-year).
- 2019: Revenue of $6.3M, expenses of $3.9M, and assets of $14.2M (revenue +17.2% year-over-year).
- 2018: Revenue of $5.4M, expenses of $3.8M, and assets of $11.8M (revenue -2.2% year-over-year).
- 2017: Revenue of $5.5M, expenses of $3.0M, and assets of $10.0M (revenue +32.2% year-over-year).
- 2016: Revenue of $4.2M, expenses of $2.7M, and assets of $7.1M (revenue -15.9% year-over-year).
- 2015: Revenue of $5.0M, expenses of $2.9M, and assets of $5.6M (revenue +40.2% year-over-year).
- 2014: Revenue of $3.6M, expenses of $3.2M, and assets of $3.5M (revenue -5.8% year-over-year).
- 2013: Revenue of $3.8M, expenses of $4.6M, and assets of $3.1M (revenue -1.6% year-over-year).
- 2012: Revenue of $3.8M, expenses of $3.9M, and assets of $3.9M (revenue +1.9% year-over-year).
- 2011: Revenue of $3.8M, expenses of $4.3M, and assets of $4.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sheet Metal Workers Welfare Fund 22:
Data Sources and Methodology
This transparency report for Sheet Metal Workers Welfare Fund 22 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.