Civic Intelligence

Sheet Metal Workers Local Union No 292 Suppl Unemployment Benefit Fund

990 • Fiscal year 2017 • EIN 23-7205462

Apr 01, 2016 to Mar 31, 2017 • Filed on Oct 12, 2017

700 Tower Drive Suite 300Troy, MI 48098

(248) 813-9800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

49th percentile

0.01x

Higher debt load relative to assets than 49% of similar nonprofits.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

52nd percentile

0.01x

Higher debt load relative to revenue than 52% of similar nonprofits.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2017

Net Margin

81st percentile

28%

Higher net margin than 81% of similar nonprofits.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

88th percentile

$214,649

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 39.1% of source-year revenue.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2017

Asset Growth

74th percentile

16%

Faster asset growth than 74% of similar nonprofits.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

40th percentile

0.4%

Faster revenue growth than 40% of similar nonprofits.

2017 filings • 501(c)9 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$1,109,009

Up $149,790 (+16%) from 2016

Net Assets

Up

$1,101,806

Up $148,611 (+16%) from 2016

Liabilities

Up

$7,203

Up $1,179 (+20%) from 2016

Revenue

Up

$549,013

Up $2,029 (+0.4%) from 2016

Expenses

Down

$397,907

Down $56,750 (-12%) from 2016

Net Income

Up

$151,106

Up $58,779 (+64%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $419,788Liabilities 2011: $6,303Net Assets 2011: $413,4852011Assets 2012: $398,080Liabilities 2012: $6,529Net Assets 2012: $391,5512012Assets 2013: $699,158Liabilities 2013: $9,797Net Assets 2013: $689,3612013Assets 2014: $765,601Liabilities 2014: $8,686Net Assets 2014: $756,9152014Assets 2015: $879,036Liabilities 2015: $6,146Net Assets 2015: $872,8902015Assets 2016: $959,219Liabilities 2016: $6,024Net Assets 2016: $953,1952016Assets 2017: $1,109,009Liabilities 2017: $7,203Net Assets 2017: $1,101,8062017Assets 2018: $1,404,818Liabilities 2018: $8,576Net Assets 2018: $1,396,2422018Assets 2019: $1,368,924Liabilities 2019: $7,069Net Assets 2019: $1,361,8552019Assets 2020: $1,842,160Liabilities 2020: $7,300Net Assets 2020: $1,834,8602020Assets 2021: $2,363,912Liabilities 2021: $11,561Net Assets 2021: $2,352,3512021Assets 2022: $2,446,530Liabilities 2022: $18,020Net Assets 2022: $2,428,5102022Assets 2023: $2,415,210Liabilities 2023: $7,392Net Assets 2023: $2,407,8182023Assets 2024: $2,763,956Liabilities 2024: $20,889Net Assets 2024: $2,743,0672024Assets 2025: $2,873,459Liabilities 2025: $12,400Net Assets 2025: $2,861,0592025

Highlighted filing

2017

Assets$1,109,009
Liabilities$7,203
Net Assets$1,101,806

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $140,7832011Expenses 2012: $293,2792012Expenses 2013: $247,1432013Revenue 2014: $557,467Expenses 2014: $484,845Net Income 2014: $72,6222014Revenue 2015: $529,485Expenses 2015: $418,203Net Income 2015: $111,2822015Revenue 2016: $546,984Expenses 2016: $454,657Net Income 2016: $92,3272016Revenue 2017: $549,013Expenses 2017: $397,907Net Income 2017: $151,1062017Revenue 2018: $724,385Expenses 2018: $422,265Net Income 2018: $302,1202018Revenue 2019: $494,056Expenses 2019: $544,978Net Income 2019: -$50,9222019Revenue 2020: $846,450Expenses 2020: $306,976Net Income 2020: $539,4742020Revenue 2021: $1,200,116Expenses 2021: $836,626Net Income 2021: $363,4902021Revenue 2022: $764,091Expenses 2022: $627,085Net Income 2022: $137,0062022Revenue 2023: $522,728Expenses 2023: $468,609Net Income 2023: $54,1192023Revenue 2024: $756,982Expenses 2024: $522,634Net Income 2024: $234,3482024Revenue 2025: $657,281Expenses 2025: $635,669Net Income 2025: $21,6122025

Highlighted filing

2017

Revenue$549,013
Expenses$397,907
Net Income$151,106
Jump To
Filing Snapshot
Filing Period
Apr 1, 2016 to Mar 31, 2017
Signed
Oct 12, 2017
Return Version
2016v3.0
Gross Receipts
$924,695
Mission and Program Overview

Mission

TO provide benefits to eligible participants to ease economic hardship arising from the disruption of employment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$953,195$1,101,806▲ $148,611
Investments in Publicly Traded Securities$613,179$912,552▲ $299,373
Cash and Non-Interest-Bearing Accounts$57,368$97,315▲ $39,947
Accounts Receivable$54,364$76,878▲ $22,514
Savings and Temporary Cash Investments$232,331$20,279▼ $212,052
Prepaid Expenses and Deferred Charges$1,977$1,985▲ $8
Total Assets$959,219$1,109,009▲ $149,790
Liabilities
Accounts Payable and Accrued Expenses$6,024$7,203▲ $1,179
Total Liabilities$6,024$7,203▲ $1,179
Net Assets / Fund Balance
Total Net Assets Fund Balance$953,195$1,101,806▲ $148,611
Total Liabilities and Net Assets / Fund Balance$959,219$1,109,009▲ $149,790
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$531,314
Investment Income
$17,699
Other Revenue
$0
Change in Net Assets
$151,106

Audited Revenue Reconciliation

Revenue per Audited Statements
$542,961
Revenue Not Reported on Financial Statements
$6,052
Revenue Not Reported on Form 990
$-2,495
Total Revenue per Audited Statements
$540,466
Total Revenue per Form 990
$549,013
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$93,774
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$304,133
Fees for Services Management---$63,012
Fees for Services Accounting---$8,150
Office Expenses---$6,109
Fees for Service Investment Mgmnt Fees---$6,052
Fees for Services Other---$5,039
Fees for Services Legal---$2,393
Insurance---$1,475
Other Expenses---$1,271
Conferences and Meetings---$273
Total Functional Expenses$0$0$0$397,907

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$397,907
Expenses per Audited Statements$391,855
Total Expenses per Audited Statements$391,855
Expenses Not Reported on Financial Statements$6,052
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

Line 2 - the relationship between the trustees of the fund is a 'business relationship'. The fund is established and maintained pursuant to the employee retirement income security act of 1974, as amended the fund, as ta taft-hartley fund, is adminstered bya board of trustees which is composed of equal number of union and employer representatives. Because of this organizational requirement, there is a business relationship betweent the trustees. Line 12a: annually each trustee must answer the fiduciary liability insurance renewal questionaire which contains questions regarding potential and actual conflict of interest. Line 15a and line 15b: the fund did not have a ceo, executive director, or top management official, or officers or key employees, as those terms defined.

Form 990, Page 6, Part VI, Line 11B

The form 990 is presented and approved at a meeting of the board of trustees, subject to review by and approval of the fund legal counsel.

Form 990, Page 6, Part VI, Line 19

The fund is established and maintained pursuant to the employee retirement security act of 1974, as amended. It operates in compliance with the reporting and disclosure requirements of subtitle b, part 1 of erisa with respect to disclosure of its governing documents and financial information. It operates in compliance with the fiduciary responsibility requirements of subtitle b, part 4 of erisa. The fund does not have a conflicts of interest policy.

Form 990, Part VII

Line 1a: mark vanavery served as a trustee of the fund without compensation from the fund for those services. However, he was compensated as an employee of the sheet metal workers' local union no. 292, which was a contributing employer to the fund and, as such, a "related organization" as that term is defined in the instructions.

Filing and Contact Details

Filer

Filer Name
Sheet Metal Workers Local Union No
EIN
23-7205462
Phone
2488139800
Address
700 TOWER DRIVE SUITE 300, TROY, MI 48098

Signing Officer

Name
Paul Gualdoni
Title
Chairman
Phone
2488139800
Signed
2017-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Gualdoni
Formed
1972
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
2
Employees
0

Preparer

Firm
Benda Grace Stulz & Company Pc
Address
38800 VAN DYKE AVE STE 100, STERLING HEIGHTS, MI 48312
Preparer
Bryan Stulz
Phone
5868836240
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 2 - THE RELATIONSHIP BETWEEN THE TRUSTEES OF THE FUND IS A 'BUSINESS RELATIONSHIP'. THE FUND IS ESTABLISHED AND MAINTAINED PURSUANT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED THE FUND, AS TA TAFT-HARTLEY FUND, IS ADMINSTERED BYA BOARD OF TRUSTEES WHICH IS COMPOSED OF EQUAL NUMBER OF UNION AND EMPLOYER REPRESENTATIVES. BECAUSE OF THIS ORGANIZATIONAL REQUIREMENT, THERE IS A BUSINESS RELATIONSHIP BETWEENT THE TRUSTEES. LINE 12A: ANNUALLY EACH TRUSTEE MUST ANSWER THE FIDUCIARY LIABILITY INSURANCE RENEWAL QUESTIONAIRE WHICH CONTAINS QUESTIONS REGARDING POTENTIAL AND ACTUAL CONFLICT OF INTEREST. LINE 15A AND LINE 15B: THE FUND DID NOT HAVE A CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL, OR OFFICERS OR KEY EMPLOYEES, AS THOSE TERMS DEFINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PRESENTED AND APPROVED AT A MEETING OF THE BOARD OF TRUSTEES, SUBJECT TO REVIEW BY AND APPROVAL OF THE FUND LEGAL COUNSEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FUND IS ESTABLISHED AND MAINTAINED PURSUANT TO THE EMPLOYEE RETIREMENT SECURITY ACT OF 1974, AS AMENDED. IT OPERATES IN COMPLIANCE WITH THE REPORTING AND DISCLOSURE REQUIREMENTS OF SUBTITLE B, PART 1 OF ERISA WITH RESPECT TO DISCLOSURE OF ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION. IT OPERATES IN COMPLIANCE WITH THE FIDUCIARY RESPONSIBILITY REQUIREMENTS OF SUBTITLE B, PART 4 OF ERISA. THE FUND DOES NOT HAVE A CONFLICTS OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LINE 1A: MARK VANAVERY SERVED AS A TRUSTEE OF THE FUND WITHOUT COMPENSATION FROM THE FUND FOR THOSE SERVICES. HOWEVER, HE WAS COMPENSATED AS AN EMPLOYEE OF THE SHEET METAL WORKERS' LOCAL UNION NO. 292, WHICH WAS A CONTRIBUTING EMPLOYER TO THE FUND AND, AS SUCH, A "RELATED ORGANIZATION" AS THAT TERM IS DEFINED IN THE INSTRUCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt6HMW CONTRACTING LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2SMW LOCAL 292 ANNUITY FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3SMW LOCAL 292 HEALTH FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt4SMW LOCAL 292 PENSION FUND
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd4MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0APPRENTICE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3HEALTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt4PENSION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0TROY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1TROY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2TROY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm3TROY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm4TROY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd3MI
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01109009
IRS990/TotalAssetsGrp/BOYAmt0959219
IRS990/TotalAssetsGrp/EOYAmt01109009
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06024
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01101806
IRS990/TotalOtherCompensationAmt071133
IRS990/TotalProgramServiceRevenueAmt0531314
IRS990/TotalRevenueGrp/ExclusionAmt024306
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0524707
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0549013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0959219
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01109009
IRS990/TotReportableCompRltdOrgAmt0143516
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.SHEET292FRINGE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL GUALDONI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02488139800
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SHEET METAL WORKERS LOCAL UNION NO
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0292 SUPPL UNEMPLOYMENT BENEFIT FUND
ReturnHeader/Filer/BusinessNameControlTxt0SHEE
ReturnHeader/Filer/EIN0237205462
ReturnHeader/Filer/PhoneNum02488139800
ReturnHeader/Filer/USAddress/AddressLine1Txt0700 TOWER DRIVE SUITE 300
ReturnHeader/Filer/USAddress/CityNm0TROY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E451B19D40D7C3C83FD64FE09E5C4B2FB044EE33
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CF935BC4CBCDF4DF6D9F33C0A5F5A5987834BF95
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382284921
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BENDA GRACE STULZ & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt038800 VAN DYKE AVE STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0STERLING HEIGHTS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd048312
ReturnHeader/PreparerPersonGrp/PhoneNum05868836240
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRYAN STULZ
ReturnHeader/ReturnTs02018-01-11T13:20:01-05:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.87$0.01$2.86$0.66$0.64$0.02
2024Detailed filing. Detailed filing data is available for this year.$2.76$0.02$2.74$0.76$0.52$0.23
2023Detailed filing. Detailed filing data is available for this year.$2.42$0.01$2.41$0.52$0.47$0.05
2022Detailed filing. Detailed filing data is available for this year.$2.45$0.02$2.43$0.76$0.63$0.14
2021Detailed filing. Detailed filing data is available for this year.$2.36$0.01$2.35$1.20$0.84$0.36
2020Detailed filing. Detailed filing data is available for this year.$1.84$0.01$1.83$0.85$0.31$0.54
2019Detailed filing. Detailed filing data is available for this year.$1.37$0.01$1.36$0.49$0.54$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.40$0.01$1.40$0.72$0.42$0.30
2017Detailed filing. Detailed filing data is available for this year.$1.11$0.01$1.10$0.55$0.40$0.15
2016Detailed filing. Detailed filing data is available for this year.$0.96$0.01$0.95$0.55$0.45$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.01$0.87$0.53$0.42$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.77$0.01$0.76$0.56$0.48$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.01$0.69$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.01$0.39$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.01$0.41$0.14