Form 990 for tax year 2024

Filed by SHEET METAL NO 10 BENEFIT FUND.

Totals

Total revenue: $71,301,173
Total expenses: $63,761,470
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $67,918,366
Investment income: $3,354,220
Other revenue: $28,587
Total assets, end of year: $100,987,993
Total liabilities, end of year: $0
Net assets or fund balances, end of year: $100,987,993
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): not reported

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.

2a · Program service revenue: EMPLOYER CONTRIBUTIONS

total $55,164,931 · related or exempt $55,164,931
2b · Program service revenue: PARTICIPANT CONTRIBUTIONS

total $7,939,764 · related or exempt $7,939,764
2c · Program service revenue: PRESCRIPTION DRUG REBATES

total $3,376,619 · related or exempt $3,376,619
2d · Program service revenue: STOP LOSS REFUNDS

total $1,437,052 · related or exempt $1,437,052
3 · Investment income

total $3,253,290 · excluded $3,253,290
7a · Gross sales of assets other than inventory

securities $12,133,196
7b · Less cost or other basis and sales expenses

securities $12,032,266
7c · Gain or loss

securities $100,930
7d · Net gain or loss

total $100,930 · excluded $100,930
11a · Other revenue: OTHER INCOME

total $28,587 · related or exempt $28,587
11e · Other revenue, total

$28,587

Functional expenses

Part IX, the statement of functional expenses.

4 · Benefits paid to or for members

total $62,851,280
5 · Compensation of officers, directors and key employees

total $5,142
11a · Fees: management

total $524,784
11b · Fees: legal

total $71,429
11c · Fees: accounting

total $33,075
11f · Fees: investment management

total $74,220
11g · Fees: other

total $90,534
13 · Office expenses

total $52,105
19 · Conferences, conventions and meetings

total $13,068
23 · Insurance

total $19,114
24a · Other expenses: FEES MANDATED BY ACA

total $21,719
24b · Other expenses: SUBSCRIPTION AND DUES

total $5,000

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $821,652 · end of year $2,712,536
2 · Savings and temporary cash investments

beginning of year $6,531,944 · end of year $4,792,043
11 · Investments: publicly traded securities

beginning of year $69,557,644 · end of year $77,935,503
12 · Investments: other securities

beginning of year $12,305,601 · end of year $15,547,911
29 · Capital stock, trust principal or current funds

beginning of year $0 · end of year $0
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $0 · end of year $0
31 · Retained earnings, endowment or other funds

beginning of year $89,216,841 · end of year $100,987,993

Mission and programs · 2024

Mission

PAYMENT OF HEALTH, PRESCRIPTION DRUGS, LIFE, DENTAL, VISION AND DISABILITY BENEFITS FOR PARTICIPANTS AND DEPENDENTS.

Activities or mission (Part I)

TO PROVIDE HEALTH BENEFITS.

PROVIDE SELF-FUNDED AND INSURED BENEFITS FOR UNION MEMBERS AND THEIR DEPENDENTS.

As filed on the 2024 return.

Listed in Part VII

Matt FairbanksMATT FAIRBANKS

CHAIRMAN

Total calculated

$308,791

From this org

$0

From related orgs

$179,183

Other

$129,608

Hours/week

1 + 52 related

Schedule J breakdown matched by us

Base

$0 + $179,183 related

Bonus

$0

Other

$0

Deferred

$0 + $94,252 related

Nontaxable benefits

$0 + $35,356 related

Filer's total

$0 + $308,791 related
Michael CorcoranMICHAEL CORCORAN

TRUSTEE

Total calculated

$4,016

From this org

$4,016

From related orgs

$0

Other

$0

Hours/week

1
Colin BeereCOLIN BEERE

TRUSTEE

Total calculated

$238,411

From this org

$0

From related orgs

$137,189

Other

$101,222

Hours/week

1 + 41 related

Schedule J breakdown matched by us

Base

$0 + $137,189 related

Bonus

$0

Other

$0

Deferred

$0 + $73,443 related

Nontaxable benefits

$0 + $27,779 related

Filer's total

$0 + $238,411 related
John QuarnstromJOHN QUARNSTROM

SECRETARY

Total calculated

$326,488

From this org

$0

From related orgs

$285,421

Other

$41,067

Hours/week

1 + 39 related

Schedule J breakdown matched by us

Base

$0 + $278,375 related

Bonus

$0

Other

$0 + $7,046 related

Deferred

$0 + $22,428 related

Nontaxable benefits

$0 + $18,639 related

Filer's total

$0 + $326,488 related
Michael JensonMICHAEL JENSON

TRUSTEE

Total calculated

$0

Hours/week

1
Andy GrahamANDY GRAHAM

TRUSTEE

Total calculated

$0

Hours/week

1
Rashid KadirRASHID KADIR

TRUSTEE

Total calculated

$0

Hours/week

1 + 1 related
Peter LeitschuhPETER LEITSCHUH

TRUSTEE

Total calculated

$2,102

From this org

$2,102

From related orgs

$0

Other

$0

Hours/week

1
Jason DammanJASON DAMMAN

ALTERNATE TRUSTEE

Total calculated

$262,110

From this org

$0

From related orgs

$151,392

Other

$110,718

Hours/week

1 + 44 related

Schedule J breakdown matched by us

Base

$0 + $151,392 related

Bonus

$0

Other

$0

Deferred

$0 + $80,414 related

Nontaxable benefits

$0 + $30,304 related

Filer's total

$0 + $262,110 related
Casey MeinhardtCASEY MEINHARDT

ALTERNATE TRUSTEE

Total calculated

$150,477

From this org

$0

From related orgs

$128,198

Other

$22,279

Hours/week

1 + 39 related

Schedule J breakdown matched by us

Base

$0 + $121,234 related

Bonus

$0 + $390 related

Other

$0 + $6,574 related

Deferred

$0 + $3,640 related

Nontaxable benefits

$0 + $18,639 related

Filer's total

$0 + $150,477 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

The filer's explanations (Part III)

PART I, LINE 3: FOR MATT FAIRBANKS, JASON DAMMAN, AND COLIN BREERE'S COMPENSATION IS DETERMINED BY THE INTERNATIONAL ASSOCIATION OF SHEET METAL, AIR, RAIL AND TRANSPORTATION WORKERS LOCAL UNION 10 COMPENSATION POLICY. FOR JOHN QUARNSTROM AND BLAKE PARSONS THE BOARD OF DIRECTORS OF SMARCA DETERMINES COMPENSATION ANNUALLY.

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.

CITY OF MINNEAPOLIS FINANCE
CITY OF ST PAUL OFFICE OF FINANCIAL SERVICES
CONSTRUCTION CAREERS FOUNDATION
METRO AREA SHEET METAL JATC ( METROPOLITAN SHEET METAL JOURNEYMAN AND APPRE

501(C)(3) · TRAINING PROGRAMS FOR SHEET METAL WORKERS · MN
SHEET METAL LOCAL #10 CONTROL BOARD

501(C)(5) · TO PROVIDE ADMINISTRATIVE SERVICES · MN
SMARCA INC
SPECIAL SCHOOL DIST #1 (MINNEAPOLIS PUBLIC SCHOOLS)
ST PAUL PUBLIC SCHOOLS
UNIVERSITY OF MINNESOTA
SHEET METAL WORKERS L-10 M-BA
SHEET METAL WORKERS' LOCAL 10 PENSION FUND

401(A) · TO PROVIDE RETIREMENT BENEFITS TO UNION MEMBERS. · MN
SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND

401(A) · TO PROVIDE RETIREMENT BENEFITS TO UNION MEMBERS. · MN
SHEET METAL #10 SAFE PLAN

501(C)(9) · TO PROVIDE BENEFITS DURING FINANCIAL EMERGENCIES. · MN

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

4-SEASON AIR LLC
ADMIRAL RADON & MECHANICAL SERVICES LLC
ADVANCED DESIGN CONTRACTING LLC
AIRTECH THERMEX LLC
APEX MECHANICAL LLC
ARMOR MECHANICAL LLC
BALANCED OUT LLC
CBA WORKFORCE SOLUTIONS LLC
CUSTOM METAL INNOVATIONS LLC
DG SOLEM & SONS LLC
DIVERSE CONSTRUCTION SERVICES LLC
DNS PLUMBING & HEATING LLC
DOWNTOWN MECHANICAL LLC
ERECTOR METALS LLC
EVER LLC DBA CLIMATE MAKERS
FLAT ROOF GUYS LLP
FLOW DYNAMIC BALANCING LLC
FLYNN MIDWEST LP
GENERAL SHEET METAL COMPANY LLC
GILBERT MECHANICAL CONTRACTORS LLC
GO FETSCH MECHANICAL LLC
HYBRID MECHANICAL LLC
INDEPENDENCE HEATING & COOLING LLC
INNOVATIVE BUILDING CONCEPTS LLC
KARPE MECHANICAL LLC
KRAFT CONTRACTING LLC DBA KRAFT MECHANICAL LLC
MAJOR MECHANICAL LLC
MIDWESTERN'S BAETE-FORSETH LLC
MODERN HEATING & AIR CONDITIONING LLC
MUZA SHEET METAL COMPANY LLC
NORTHERN COMMERCIAL SERVICES LLC
PALEN KIMBALL LLC
PIONEER MECHANICAL LLC
PREVENTIVE MECHANICAL SERVICES LLC
QCMF LLC DBA QUALITY SHEET METAL FABRICATORS
SHEET METAL SOLUTIONS LLC
SHUBITZ PLUMBING & HEATING LLC
THE INSULATORS LLC DBA SOUTHERN MINNESOTA MECHANICAL
TRIMARK MARLINN LLC DBA TRIMARK MINNESOTA
YALE MECHANICAL LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

A & E PLUMBING & HEATING INC
AG O'BRIEN PLUMBING & HEATING CO
API INC
AW KUETTEL & SONS INC
ADVANTAGE AIR PLUMBING HEATING & COOLING INC
AER INC
AIR CONDITIONING ASSOCIATES
AIR SYSTEMS ENGINEERING INC
ALBERS MECHANICAL CONTRACTORS INC
ALDO INC
ALLAN MECHANICAL CORP
ALLAN MECHANICAL INC
API HVAC SERVICES INC
ARCHITECT MECHANICAL INC
ASSOCIATED MECHANICAL CONTRACTORS INC
ATOMIC ARCHITECTURAL SHEET METAL INC
B&B SHEET METAL & ROOFING INC
BL DALSIN ROOFING
BAL-TECH INC
BERGER & KING INC
BERWALD ROOFING COMPANY INC
BIM DESIGNS INC
BINDER HEATING & AIR CONDITIONING INC
BROGAN HEATING & AIR CONDITIONING INC
BUTTWEILERS DO-ALL INC
CALDWELL PLUMBING & HEATING
CARLSON DULUTH COMPANY
CENTRAIRE HEATING & AIR CONDITIONING
CENTRAL ROOFING COMPANY
CENTRAL SHEET METAL WORKS INC
CHAPPELL CENTRAL INC
CITY AIR MECHANICAL INC
COMET HEATING & AIR INC
COMMERCIAL KITCHEN SERVICES CORP
COMMERCIAL PLUMBING & HEATING
COMMERCIAL ROOFING AND SHEET METAL INC
COMMERCIAL ROOFING INC
COOL AIR MECHANICAL INC
COOLING & HEATING UNLIMITED INC
CORPORATE MECHANICAL INC
CORVAL CONSTRUCTORS INC
CROWN CORR INC
CUSTOM STAINLESS STEEL INC
DAKOTA METAL FABRICATION INC
DIVISION V SHEET METAL INC
DMC PLUMBING & HEATING INC
DP FABRICATION
EGAN COMPANIES INC DBA EGAN COMPANY
ELANDER MECHANICAL INC
ERICKSON PLUMBING HEATING COOLING INC
FAIRCON SERVICE COMPANY
FD WALSH'S INC
GAGNON INC
GALAXY MECHANICAL INC
GENERAL HEATING & MECHANICAL INC (GENERAL HEATING & ENGINERING)
GREAT LAKES MECHANICAL INC
GREENMAN HEATING & RFG INC
GREENMAN INC DBA GREENMAN HVAC
GTS HVAC INC
HARRIS ROCHESTER INC
HARRIS ST PAUL INC
HARTY MECHANICAL INC
HINDING HEATING AIR & ELECTRIC INC
HORWITZ INC DBA (HORWITZ NSI)
IRON RANGE PLUMBING AND HEATING
J F AHERN CO
JA BENNER LIMITED DBA SYSTEMS MANAGEMENT & BALANCING OF MINNESOTA
JAMAR COMPANY
JOE & SONS SHEET METAL INC
JOHN A DALSIN & SON INC
KB SERVICE COMPANY
KRAUSE SHEET METAL & HEATING INC
KRIER & BLAIN INC
L & L SHEET METAL
LSV METALS INC
LAKE AREA ROOFING & CONSTRUCTION INC
LAKEHEAD CONSTRUCTORS
LANEY'S INC
LEGACY COMPANIES INC
LEGEND MECHANICAL
LEROY SIGNS INC
M & S SHEET METAL INC (MOWBRAY & SON INC)
MG MCGRATH INC
MAD MECHANICAL INC
MASTER MECHANICAL INC
MCDOWALL COMPANY
MCFARLANEINC
MECHANICAL DATA CORPORATION
MECHANICAL TEST & BALANCE OF MINNESOTA
METRO AIR CONDITIONING CO
METROPOLITAN MECHANICAL CONTRACTORS INC (MMC)
MG MECHANICAL CONTRACTING INC DBA KHG CONTRACTING
MIDWEST KITCHEN SERVICE INC
MIKE'S HEATING & SHEET METAL
MINNEAPOLIS BUILDING & CONSTRUCTION TRADES COUNCIL
MINT ROOFING INC
MJ O'CONNOR INC
MODERN
NASSEFF MECHANICAL CONTRACTORS INC (NASSEFF PLUMBING & HEATING INC)
NELSON MECHANICAL INC
NELSON ROOFING INC
NORDIC SERVICES INC
NORTH COUNTRY INSTALLATION INC
NORTHERN AIR CORPORATION (DBA NAC MECHANICAL & ELECTRICAL)
NORTHERN HORIZONS SOLWAY INC
NORTHLAND MECHANICAL CONTRACTORS INC
OPTIMUM MECHANICAL SYSTEMS INC
P & R PLUMBING AND HEATING INC
PALMER WEST CONSTRUCTION COMPANY INC
PCR BUILDERS ARCHITECTURAL METALS
PETERSON MECHANICAL INC
PETERSON SHEET METAL
PIONEER POWER INC
PRAIRIE TECHNOLOGIES INC OF MN DBA HUMERATECH
PREMIER TEST & BALANCE INC
RADOTICH INC
RAINVILLE-CARLSON INC
RANDALL'S HEATING & COOLING INC
RANGE CORNICE & ROOFING COMPANY
RANGE CORNICE HEATING & SHEET METAL INC
ROBERT GIBB & SONS INC
ROOF TECH INC
S R MECHANICAL INC
SAYLER HEATING AND AIR CONDITIONING INC
SCHADEGG MECHANICAL INC
SEASONAL CONTROL MECH DIV INC
SENTRA-SOTA SHEET METAL INC
SHANNON'S INC
SHEET METAL CONNECTORS INC
SHERIDAN SHEET METAL COMPANY
SKOGEN MECHANICAL
SPRIGGS MECHANICAL INC
ST CLOUD REFRIGERATION INC
SYSTEMS MANAGEMENT & BALANCING OF MINNESOTA (MARCUS GLOBAL INC)
TESSIER'S INC
TEST & BALANCE ASSOCIATES INC
TEST & BALANCE SOLUTIONS INC
THELEN HEATING & ROOFING INC
TOTAL AIR INC
TOTAL MECHANICAL SERVICES INC
TRUE MECHANICAL MN INC
TWEET-GAROT MECHANICAL INC
US MECHANICAL INC
UHL COMPANY INC
VENT FAB INC
WEIDNER'S PLUMBING & HEATING
WENZEL HEATING & AIR CONDITIONING (FORCED AIR INC)
WINONA HEATING & VENTILATION COMPANY INC
ZAHLER HEATING & AIR CONDITIONING INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 1 October 2025
IRS schema version: 2024v5.2
Source object: 202512799349300136

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