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Nonprofiteer
← SHEET METAL WORKERS INTERNATIONAL SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2023

Filed by SHEET METAL WORKERS INTERNATIONAL SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$990,654
Total expenses
$204,173
Contributions and grants received
$13,885
Grants paid
$162,000
Program service revenue
$0
Investment income
$770,142
Other revenue
$206,627
Total assets, end of year
$13,255,264
Total liabilities, end of year
$421,249
Net assets or fund balances, end of year
$12,834,015
Program services expenses (Part IX)
$162,000
Management and general expenses
$42,173
Fundraising expenses
$0
Program service expenses (Part III)
$162,000

Program services were 79.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $13,645

  • 1f · All other contributions, gifts and grants

    $240

  • 3 · Investment income

    total $461,417 · excluded $461,417

  • 7a · Gross sales of assets other than inventory

    securities $1,068,936

  • 7b · Less cost or other basis and sales expenses

    securities $760,211

  • 7c · Gain or loss

    securities $308,725

  • 7d · Net gain or loss

    total $308,725 · related or exempt $308,725

  • 8a · Fundraising events: gross income

    $187,175

  • 8a · Fundraising events: contributions included on line 1c

    $13,645

  • 8b · Fundraising events: direct expenses

    $107,188

  • 8c · Net income from fundraising events

    total $79,987 · excluded $79,987

  • 9a · Gaming: gross income

    $42,250

  • 9b · Gaming: direct expenses

    $24,247

  • 9c · Net income from gaming

    total $18,003 · excluded $18,003

  • 11a · Other revenue: SCHOLARSHIP REFUNDS

    total $108,637 · related or exempt $108,637

  • 11e · Other revenue, total

    $108,637

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $162,000 · program services $162,000

  • 11b · Fees: legal

    total $5,466 · management and general $5,466

  • 11c · Fees: accounting

    total $12,735 · management and general $12,735

  • 13 · Office expenses

    total $211 · management and general $211

  • 21 · Payments to affiliates

    total $16,091 · management and general $16,091

  • 23 · Insurance

    total $4,120 · management and general $4,120

  • 24a · Other expenses: BANK CHARGES & CURRENCY

    total $3,313 · management and general $3,313

  • 24e · All other expenses

    total $237 · management and general $237

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,098,394 · end of year $680,864

  • 2 · Savings and temporary cash investments

    beginning of year $586,266 · end of year $6,565

  • 9 · Prepaid expenses and deferred charges

    beginning of year $172 · end of year $172

  • 11 · Investments: publicly traded securities

    beginning of year $10,758,581 · end of year $12,567,663

  • 17 · Accounts payable and accrued expenses

    beginning of year $36,114 · end of year $40,658

  • 18 · Grants payable

    beginning of year $397,500 · end of year $322,500

  • 25 · Other liabilities

    beginning of year $88,538 · end of year $58,091

  • 27 · Net assets without donor restrictions

    beginning of year $11,921,261 · end of year $12,834,015

Mission and programs · 2023

Mission

TO PROVIDE SCHOLARSHIPS TO MEMBERS OF THE SHEET METAL WORKERS' INTERNATIONAL AND TO THE MEMBERS OF THEIR FAMILIES.

Activities or mission (Part I)

TO AWARD SCHOLARSHIPS TO SCHOLARSHIP RECIPIENTS.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $162,000 · Grants $162,000

As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Charles Henson

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Joseph Sellers Jr

    DIRECTOR

    Total calculated
    $210,295
    From this org
    $0
    From related orgs
    $167,494
    Other
    $42,801
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,494 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $42,801 related
    Filer's total
    $0 + $210,295 related

  • Michael Coleman

    DIRECTOR

    Total calculated
    $417,333
    From this org
    $0
    From related orgs
    $331,638
    Other
    $85,695
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,638 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $85,695 related
    Filer's total
    $0 + $417,333 related

  • Joseph Powell

    PLAN ADMINISTRATOR

    Total calculated
    $451,684
    From this org
    $0
    From related orgs
    $341,684
    Other
    $110,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $341,684 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $110,000 related
    Filer's total
    $0 + $451,684 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
7 April 2025
IRS schema version
2023v6.0
Source object
202520989349301952

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