Civic Intelligence

Sheetmetal Workers Local No 10 Training Fund

EIN 41-1472350 • 501(c)5 • Rochester, MN

Profile

Provide education and work experience through a training program for apprentices and journeymen in the program for the current year.

7240 Dresser Drive NERochester, MN 55906

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

0.53x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

2.65x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Net Margin

65th percentile

14%

Higher net margin than 65% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

32nd percentile

0.7%

Faster asset growth than 32% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

57th percentile

8.1%

Faster revenue growth than 57% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,900,965

Up $13,749 (+0.7%) from 2023

Liabilities

Down

$1,001,236

Down $37,953 (-3.7%) from 2023

Net Assets

Up

$899,729

Up $51,702 (+6.1%) from 2023

Revenue

Up

$377,129

Up $28,121 (+8.1%) from 2023

Expenses

Up

$325,427

Up $26,520 (+8.9%) from 2023

Net Income

Up

$51,702

Up $1,601 (+3.2%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2012: $116,940Liabilities 2012: $356Net Assets 2012: $116,5842012Assets 2013: $155,882Liabilities 2013: $368Net Assets 2013: $155,5142013Assets 2014: $181,601Liabilities 2014: $759Net Assets 2014: $180,8422014Assets 2015: $236,051Liabilities 2015: $201Net Assets 2015: $235,8502015Assets 2016: $345,693Liabilities 2016: $74,687Net Assets 2016: $271,0062016Assets 2017: $369,263Liabilities 2017: $68,360Net Assets 2017: $300,9032017Assets 2018: $378,533Liabilities 2018: $31,955Net Assets 2018: $346,5782018Assets 2019: $425,004Liabilities 2019: $385Net Assets 2019: $424,6192019Assets 2020: $571,485Liabilities 2020: $613Net Assets 2020: $570,8722020Assets 2021: $729,765Liabilities 2021: $244Net Assets 2021: $729,5212021Assets 2022: $1,874,250Liabilities 2022: $1,076,324Net Assets 2022: $797,9262022Assets 2023: $1,887,216Liabilities 2023: $1,039,189Net Assets 2023: $848,0272023Assets 2024: $1,900,965Liabilities 2024: $1,001,236Net Assets 2024: $899,7292024

Highlighted filing

2024

Assets$1,900,965
Liabilities$1,001,236
Net Assets$899,729

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$300K$200K$100K$0Revenue 2012: $108,400Expenses 2012: $71,561Net Income 2012: $36,8392012Revenue 2013: $115,825Expenses 2013: $76,895Net Income 2013: $38,9302013Revenue 2014: $121,902Expenses 2014: $96,574Net Income 2014: $25,3282014Revenue 2015: $137,406Expenses 2015: $82,398Net Income 2015: $55,0082015Revenue 2016: $159,701Expenses 2016: $124,545Net Income 2016: $35,1562016Revenue 2017: $173,448Expenses 2017: $143,551Net Income 2017: $29,8972017Revenue 2018: $188,260Expenses 2018: $142,585Net Income 2018: $45,6752018Revenue 2019: $217,929Expenses 2019: $139,888Net Income 2019: $78,0412019Revenue 2020: $277,164Expenses 2020: $125,540Net Income 2020: $151,6242020Revenue 2021: $293,478Expenses 2021: $134,831Net Income 2021: $158,6472021Revenue 2022: $299,737Expenses 2022: $231,332Net Income 2022: $68,4052022Revenue 2023: $349,008Expenses 2023: $298,907Net Income 2023: $50,1012023Revenue 2024: $377,129Expenses 2024: $325,427Net Income 2024: $51,7022024

Highlighted filing

2024

Revenue$377,129
Expenses$325,427
Net Income$51,702

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$1.00$0.90$0.38$0.33$0.05
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$1.04$0.85$0.35$0.30$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.87$1.08$0.80$0.30$0.23$0.07
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.73$0.00$0.73$0.29$0.13$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.00$0.57$0.28$0.13$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.43$0.00$0.42$0.22$0.14$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.38$0.03$0.35$0.19$0.14$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.37$0.07$0.30$0.17$0.14$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.07$0.27$0.16$0.12$0.04
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.00$0.24$0.14$0.08$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.12$0.10$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.00$0.16$0.12$0.08$0.04
2012Summary only. Only limited summary data is available for this year.$0.12$0.00$0.12$0.11$0.07$0.04
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Sep 18, 2023
Return Version
2022v5.0
Gross Receipts
$349,008
Mission and Program Overview

Mission

Provide education and work experience through a training program for apprentices and journeymen. Both apprentices and journeymen were in the program in current year.

Provide education and work experience through a training program for apprentices and journeymen in the program for the current year.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,701,687$1,682,672▼ $19,015
Rtn Earn Endowment Incm Other Fnds$797,926$848,027▲ $50,101
Savings and Temporary Cash Investments$91,657$109,383▲ $17,726
Cash and Non-Interest-Bearing Accounts$70,342$85,129▲ $14,787
Intangible Assets$10,565$10,030▼ $535
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,874,251$1,887,216▲ $12,965
Other Assets Total-$2-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,075,976$1,038,672▼ $37,304
Other Liabilities$349$517▲ $168
Total Liabilities$1,076,325$1,039,189▼ $37,136
Net Assets / Fund Balance
Total Net Assets Fund Balance$797,926$848,027▲ $50,101
Total Liabilities and Net Assets / Fund Balance$1,874,251$1,887,216▲ $12,965

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,493,071$82,059$1,575,130
Buildings$145,659$37,341$183,000
Equipment$34,482$110,536$145,018
Other Land Buildings$9,460$8,068$17,528
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chad BestorBoard Member
Don BillingsleyLabor Trustee
Marcus VitseLabor Trustee
Matt FairbanksLabor Trustee
Tom ErdingLabor Trustee
Blake ParsonsMgmt Trustee
Roxanne StewartMgmt Trustee
Tom PlacheckiMgmt Trustee
Aaron MyhreBusiness Rep
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$343,732
Investment Income
$141
Other Revenue
$5,135
Change in Net Assets
$50,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$218,914
Salaries, Compensation, and Employee Benefits$79,993
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,912$7,121-$74,033
Depreciation Depletion$6,890$46,369-$53,259
Interest-$40,269-$40,269
Fees for Services Other-$25,434-$25,434
Insurance-$11,441-$11,441
Travel-$10,941-$10,941
Office Expenses-$9,677-$9,677
Occupancy-$8,643-$8,643
Payroll Taxes$5,388$572-$5,960
Fees for Services Accounting-$4,997-$4,997
All Other Expenses$2,750$764-$3,514
Other Expenses$10,894$1,711-$1,711
Advertising-$501-$501
Total Functional Expenses$128,447$170,460$0$298,907
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes$517
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

FORM 990, PART VI, LINE 11B -Organization'S Process to Review Form 990

A meeting is held to review form 990.

FORM 990, PART VI, LINE 12C - Enforcement of Conflicts Policy

Meetings are held to monitor compliance with all organization policies

FORM 990, PART VI, LINE 15A - Compensation Process for Top Official

A meeting is held to determine the compensation of officers and key employees.

FORM 990, PART VI, LINE 15B - Compensation Process For Officers

A meeting is held to determine the compensation of officers and key employees.

FORM 990, PART VI, LINE 19- Governing Documents Disclosure Explanation

Documents are available to the governing body and members of local 10

FORM 990, PART VI, LINE 7B - Decisions Subject to Approval of Members

A meeting is held to approve members

Filing and Contact Details

Filer

Filer Name
Sheetmetal Local 10 Training Fund
EIN
41-1472350
Phone
5072726468
Address
7240 DRESSER DRIVE NE, ROCHESTER, MN 55906

Signing Officer

Name
Aaron Myhre
Title
Business Rep
Signed
2023-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aaron Myhre
Formed
1940
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
11

Preparer

Firm
Gary T Haworth & Co Ltd
Address
4041 28TH ST NW STE 200, ROCHESTER, MN 55901
Preparer
Kathleen Jacobson
Phone
5072880090
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4D - All Other Accomplishments

Education and training of apprentices and journeymen

Raw XML AppendixShowing 400 of 417 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EDUCATION AND TRAINING OF APPRENTICES AND JOURNEYMEN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A MEETING IS HELD TO REVIEW FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEETINGS ARE HELD TO MONITOR COMPLIANCE WITH ALL ORGANIZATION POLICIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5A MEETING IS HELD TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6A MEETING IS HELD TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES.
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