Sheet Metal Local 219 Benefit Fund
- Assets
- $9.7m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 14
- Location
- Rockford, IL
- Founding
- 01/1984
- Data as of
- 12/2021
- EIN
- 36-3192254
Organization Overview
Sheet Metal Local 219 Benefit Fund is located in Rockford, IL. The organization was established in 1984. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Sheet Metal Local 219 Benefit Fund employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheet Metal Local 219 Benefit Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Sheet Metal Local 219 Benefit Fund generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $5.7m during the year ending 12/2021. While expenses have increased by 7.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HEALTH BENEFITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HEALTH CARE, PRESCRIPTION DRUG AND DISABILITY BENEFITS FOR ELIGIBLE PARTICIPANTS AND/OR THEIR DEPENDENTS IN ACCORDANCE WITH THE PLAN DOCUMENT AND SCHEDULE OF BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Middleton Secretary | Trustee | 2 | $0 |
Erik Wintlend Employer Trustee | Trustee | 2 | $0 |
Chris Albrecht Labor Trustee | Trustee | 2 | $0 |
Todd Whitlock Labor Trustee | Trustee | 2 | $0 |
Joseph Cook Chairman | Trustee | 2 | $0 |
Jake Ghinazzi Employer Trustee - Past | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,697,238 |
| Investment income | $265,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,028 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,977,671 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,402,171 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $137,880 |
| Fees for services: Legal | $870 |
| Fees for services: Accounting | $32,118 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,000 |
| Fees for services: Other | $29,500 |
| Advertising and promotion | $0 |
| Office expenses | $11,426 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $507 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,320 |
| Insurance | $6,662 |
| All other expenses | $0 |
| Total functional expenses | $5,680,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,313,178 |
| Savings and temporary cash investments | $27,396 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $597,730 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,781 |
| Net Land, buildings, and equipment | $10,800 |
| Investments—publicly traded securities | $7,761,228 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,732,113 |
| Accounts payable and accrued expenses | $4,425 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $51,597 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,133 |
| Total liabilities | $125,155 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,606,958 |
| Total liabilities and net assets/fund balances | $9,732,113 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
St Anthony's Med Cnt Prof & Gen Liab Milwaukee, WI | $0 | $2,384,132 |
Illinois Insurance Guaranty Fund Chicago, IL | $161,417,885 | $26,320,531 |
Healthalliance Benefit Plan Urbandale, IA | $4,354,956 | $14,851,406 |
Clara Abbott Foundation Abbott Park, IL | $224,191,754 | $3,270,470 |
Katten Muchin Rosenman Llp Employees Welfare Benefit Plan Tr Chicago, IL | $4,093,448 | $12,724,208 |
Komatsu America Corp Retiree Welfare Noncollectively Bargained Chicago, IL | $37,989,668 | $6,516,658 |
Buddig Employees Welfare Benefit Plan And Trust Homewood, IL | $1,411,169 | $11,307,142 |
Ford Meter Box Co Inc Employee Benefit Plan Wabash, IN | $2,576,706 | $10,783,533 |
Childrens Memorial Hospital Self Chicago, IL | $135,161,013 | $17,731,725 |
Evergy Inc Kansas City, MO | $82,354,163 | $13,097,270 |
Illinois Life & Health Insurance Guaranty Association Lisle, IL | $105,017,420 | $45,042,469 |