Sheet Metal Workers 40 Apprentice and Training Fund FY2021 filing

Not tax-deductible

Rocky Hill, CT501(c)(5)EIN 23-7412739Revenue $650K in FY2021

On file with the IRS100a Old Forge Rd, 06067-3758 · Rocky Hill, CTTax-exempt since Mar 1979

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To provide Training to local 40 Sheet Metal Workers

89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $72K a year · 11% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $24K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$17K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$650K
-10% vs prior year
Spent
$537K
To programs
89%
Net assets
$646K
By yearFY2020–FY2024
Revenue
$650K
FY2021▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$724K
FY2021$650K
FY2022$592K
FY2023$598K
FY2024$848K
Expenses
$537K
FY2021▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$558K
FY2021$537K
FY2022$467K
FY2023$615K
FY2024$874K
Net assets
$646K
FY2021▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$533K
FY2021$646K
FY2022$772K
FY2023$756K
FY2024$729K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1979.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $475K Management & general 11% · $62K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
Labor Trustee
$0Pt VII · Sec A
Labor Trustee (p)
$0Pt VII · Sec A
Labor Trustee (p)
$0Pt VII · Sec A
Labor Trustee
$0Pt VII · Sec A
Management Trustee
$0Pt VII · Sec A
Management Trustee
$0Pt VII · Sec A
Management Trustee (p)
$0Pt VII · Sec A
Management Trustee
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022
Jason M Sherman—$112,369$101,484
Clifford Richards$103,815——
John M Beal$63,870$5,230$1,443
Michael Dezinno$2,125——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Trains local sheet metal workers for their trade.

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Provided by the organization

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1 program · $475K · in their own filed words · FY2021
01

To provide training and apprentice programs to jouneypersons and apprentices.

$475Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$24K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$650K
Ln 12
Fees for servicesLn 2g$581K
Gifts and grantsLn 1h$66K
Other incomeLn 4–11$4K
Money outPt IX
$537K
Ln 25
Programscol B$475K
Managementcol C$62K
Owns and owesPt X
$646K
net assets · Ln 32
Cash and savingsLn 1–2$556K
Total assetsLn 16$663K
LiabilitiesLn 26$17K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$66K
Government grantsLn 1e$66K
Fees for servicesLn 2g$581K
Investment incomeLn 3$528
Other incomeLn 4–11$4K
Total revenueLn 12$650K
Assets in detailPt X, end of year
CashLn 1$100
SavingsLn 2$555K
Cash and savings togetherLn 1–2$556K
Land, buildings, equipmentLn 10c$18K
Other assetsLn 15$5K
Total assetsLn 16$663K
LiabilitiesLn 26$17K
Net assetsLn 32$646K
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$436K$556K
Land, buildings, equipmentLn 10c$28K$18K
Total assetsLn 16$543K$663K
LiabilitiesLn 26$10K$17K
Net assetsLn 32$533K$646K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$161K$161K
Pension plan contributionsLn 8$77K$77K
Other employee benefitsLn 9$55K$55K
Payroll taxesLn 10$13K$13K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$8K$8K
Office expensesLn 13$23K$23K
OccupancyLn 16$143K$143K
TravelLn 17$952$952
Conferences, conventions and meetingsLn 19$5K$5K
Payments to affiliatesLn 21$100$100
Depreciation, depletion and amortizationLn 22$11K$11K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$25K$25K
Total functional expensesLn 25$537K$475K$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $848K$874K−$26K$729K 990 PDF
FY2023 $598K$615K−$16K$756K 990 PDF
FY2022 $592K$467K$125K$772K 990 PDF
FY2021 Viewing $650K$537K$113K$646K 990 PDF
FY2020 $724K$558K$166K$533K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $650,280 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $69,358$65,603
I-9 Program service revenuePrior year $652,629$580,575
I-10 Investment incomePrior year $645$528
I-11 Other revenuePrior year $1,081$3,574
I-12 Total revenuePrior year $723,713$650,280
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $342,757$306,815
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $214,910$230,114
I-18 Total expensesPrior year $557,667$536,929
I-19 Revenue less expensesPrior year $166,046$113,351
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $650,280 across 6 lines filed
VIII-1e Government grants$65,603
VIII-1h Total contributions, gifts and grants$65,603
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $580,575$580,575
VIII-3 Investment incomeExcluded from tax $528$528
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,574$3,574
VIII-12 Total revenueRelated to mission $584,149 · Unrelated business $0 · Excluded from tax $528$650,280
Part IX · Statement of functional expenses $536,929 across 14 lines filed
IX-7 Other salaries and wagesPrograms $161,003$161,003
IX-8 Pension plan contributionsPrograms $77,411$77,411
IX-9 Other employee benefitsPrograms $54,951$54,951
IX-10 Payroll taxesPrograms $13,450$13,450
IX-11b Legal feesManagement $3,302$3,302
IX-11c Accounting feesManagement $8,500$8,500
IX-13 Office expensesManagement $22,590$22,590
IX-16 OccupancyPrograms $142,821$142,821
IX-17 TravelPrograms $952$952
IX-19 Conferences, conventions and meetingsManagement $4,552$4,552
IX-21 Payments to affiliatesPrograms $100$100
IX-22 Depreciation, depletion and amortizationManagement $10,660$10,660
IX-23 InsuranceManagement $12,084$12,084
IX-24 Other expenses (24a–d)Programs $24,553$24,553
IX-25 Total functional expensesPrograms $475,241 · Management $61,688 · Fundraising $0$536,929
Part X · Balance sheet $663,383 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $100$100
X-2 Savings and temporary cash investmentsStart of year $435,612$555,479
X-4 Accounts receivableStart of year $74,571$84,693
X-10c Land, buildings and equipment, netStart of year $27,686$17,937
X-15 Other assetsStart of year $5,174$5,174
X-16 Total assetsStart of year $543,143$663,383
X-17 Accounts payable and accrued expensesStart of year $10,024$16,913
X-26 Total liabilitiesStart of year $10,024$16,913
X-27 Net assets without donor restrictionsStart of year $529,933$643,243
X-28 Net assets with donor restrictionsStart of year $3,186$3,227
X-32 Total net assets or fund balancesStart of year $533,119$646,470
X-33 Total liabilities and net assetsStart of year $543,143$663,383
Part XI · Reconciliation of net assets $646,470 net assets at year end
XI-1 Total revenue$650,280
XI-2 Total expenses$536,929
XI-3 Revenue less expenses$113,351
XI-4 Net assets at start of year$533,119
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$646,470

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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