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Sheet Metal Workers Training Fund FY2021 filing

Not tax-deductible

Honolulu, HI501(c)(5)EIN 99-6009480Revenue $1.7M in FY2021

On file with the IRS1405 N King St, 96817-4244 · Honolulu, HITax-exempt since Sep 1969

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To provide Training benefits to employees who satisfy the eligibility requirements for benefits.

$175K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $1.3M a year · 64% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Pay to officers and key staff
$175K
to officers and key staff · 28% of spending
Worth a look: pay to officers and key staff is 28% of spending; over 20%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
Spent
$623K
Net assets
$6.7M
By yearFY2021–FY2025
Revenue
$1.7M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$1.7M
FY2023$1.6M
FY2024$2.7M
FY2025$2.0M
Expenses
$623K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$623K
FY2023$642K
FY2024$738K
FY2025$896K
Net assets
$6.7M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$6.7M
FY2023$7.9M
FY2024$9.1M
FY2025$10.3M

From the FY2021 Form 990 (year ending January 2021) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1969.

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

Who runs it and what they're paid

12 people listed on the 990; $175K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Leowell Peralta
Training Coordinator
$134,006Pt VII · Sec A
$40,739Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2021
Burton Takafuji$150,444$143,696—
Leowell Peralta——$134,006
Roger Nagata——$40,739

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Trains employees to meet benefit eligibility requirements.

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3 programs · in their own filed words · FY2020
01

Instructors training program- coordinate and conduct training programs for instructions for other sheet metal training programs.

Pt IX · col B
02

Apprenticeship Training Program

Coordinate and conduct the sheet metal apprenticeship program.

Pt IX · col B
03

Safety Training Program

Coordinate and conduct first aid classes.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.7M
Ln 12
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$110K
Money outPt IX
$623K
Ln 25
Owns and owesPt X
$6.7M
net assets · Ln 32
Cash and savingsLn 1–2$266K
Total assetsLn 16$6.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$110K
Gains on assetsLn 7−$49K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$266K
Cash and savings togetherLn 1–2$266K
InvestmentsLn 11–13$6.4M
Land, buildings, equipmentLn 10c$30K
Total assetsLn 16$6.7M
LiabilitiesLn 26$0
Net assetsLn 32$6.7M
OperationsPt I, VI
EmployeesI 516
VolunteersI 610
Fiscal year endsHeaderJanuary
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2−$8K$266K
InvestmentsLn 11–13$5.7M$6.4M
Land, buildings, equipmentLn 10c$30K$30K
Total assetsLn 16$6.0M$6.7M
LiabilitiesLn 26$18K$0
Net assetsLn 32$5.9M$6.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$37K
Pay of current officers, directors and key staffLn 5$55K
Other salaries and wagesLn 7$156K
Payroll taxesLn 10$17K
Legal feesLn 11b$17K
Accounting feesLn 11c$12K
Investment management feesLn 11f$10K
Other fees for servicesLn 11g$10K
Office expensesLn 13$6K
OccupancyLn 16$52K
Conferences, conventions and meetingsLn 19$332
InsuranceLn 23$6K
Other expenses (24a–d)Ln 24$239K
All other expensesLn 24e$5K
Total functional expensesLn 25$623K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$896K$1.1M$10.3M 990 PDF
FY2024 $2.7M$738K$2.0M$9.1M 990 PDF
FY2023 $1.6M$642K$940K$7.9M 990 PDF
FY2022 Not on file
FY2021 Viewing $1.7M$623K$1.1M$6.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $1,682,633 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,354,457$0
I-9 Program service revenuePrior year $0$1,572,275
I-10 Investment incomePrior year $159,822$110,358
I-11 Other revenuePrior year $9,726$0
I-12 Total revenuePrior year $1,524,005$1,682,633
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $81,870$37,492
I-15 Salaries and benefitsPrior year $282,093$227,979
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $274,303$357,559
I-18 Total expensesPrior year $638,266$623,030
I-19 Revenue less expensesPrior year $885,739$1,059,603
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,682,633 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,572,275$1,572,275
VIII-3 Investment incomeExcluded from tax $159,614$159,614
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$49,256−$49,256
VIII-12 Total revenueRelated to mission $1,572,275 · Unrelated business $0 · Excluded from tax $110,358$1,682,633
Part IX · Statement of functional expenses $623,030 across 14 lines filed
IX-4 Benefits paid to or for members$37,492
IX-5 Pay of current officers, directors and key staff$55,346
IX-7 Other salaries and wages$155,937
IX-10 Payroll taxes$16,696
IX-11b Legal fees$16,697
IX-11c Accounting fees$12,140
IX-11f Investment management fees$9,926
IX-11g Other fees for services$9,501
IX-13 Office expenses$6,037
IX-16 Occupancy$52,310
IX-19 Conferences, conventions and meetings$332
IX-23 Insurance$6,042
IX-24 Other expenses (24a–d)$239,209
IX-24e All other expenses$5,365
IX-25 Total functional expenses$623,030
Part X · Balance sheet $6,691,598 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year −$7,852$265,504
X-9 Prepaid expenses and deferred chargesStart of year $5,902$0
X-10c Land, buildings and equipment, netStart of year $30,205$30,205
X-11 Publicly traded securitiesStart of year $5,711,396$6,395,889
X-16 Total assetsStart of year $5,963,370$6,691,598
X-26 Total liabilitiesStart of year $18,131$0
X-32 Total net assets or fund balancesStart of year $5,945,239$6,691,598
X-33 Total liabilities and net assetsStart of year $5,963,370$6,691,598
Part XI · Reconciliation of net assets $6,691,598 net assets at year end
XI-1 Total revenue$1,682,633
XI-2 Total expenses$623,030
XI-3 Revenue less expenses$1,059,603
XI-4 Net assets at start of year$5,945,239
XI-8 Prior period adjustments−$313,244
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,691,598

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

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