Associated Sheet Metal and Roofing

“The associated sheet metal & roofing contractors of connecticut, inc., provides managerial services and administrative support to the sheet metal industry fund, inc. On a fee basis. The two organizations share the same officers and directors. During each of the years ended june 30, 2017 and 2016, the sheet metal industry fund, inc. Paid management fees of 180,000 to the associated sheet metal & roofing contractors of connecticut, inc. The fund has implemented accounting guidance for uncertainty in income taxes using certain provisions of asc 740, income taxes. Using this guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not that the position will be sustained upon examination from the tax authorities. As of june 30, 2017, the fund has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and believes that it has appropriate support for income tax positions taken in its tax returns.”

“Expenses website 455 travel 1,145 meetings & negotiations 16,870 insurance - d&o liability 1,125 insurance-fiduciary 500 total 20,095”

“Unrealized gains (losses) 19,297”

“Promoted sheet metal programs regarding education, labor, restrictions, public relations, advertising and industry standards.”