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Nonprofiteer
← THE SHEET METAL LOCAL NO 40 HEALTH FUND

Form 990 for tax year 2023

Filed by THE SHEET METAL LOCAL NO 40 HEALTH FUND.

Totals

Total revenue
$8,345,764
Total expenses
$7,421,853
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,858,621
Investment income
$59,242
Other revenue
$427,901
Total assets, end of year
$4,404,573
Total liabilities, end of year
$476,861
Net assets or fund balances, end of year
$3,927,712
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 $6,996,431 · related or exempt $6,996,431

  • 2b · Program service revenue: RETIREE CONTRIBUTIONS

    total $608,888 · related or exempt $608,888

  • 2c · Program service revenue: RECIPROCAL AGREEMENTS,

    total $201,774 · related or exempt $201,774

  • 2d · Program service revenue: EMPLOYEE CONTRIBUTIONS

    total $51,528 · related or exempt $51,528

  • 3 · Investment income

    total $59,242 · excluded $59,242

  • 11a · Other revenue: PRESCRIPTION REBATE

    total $165,175 · related or exempt $165,175

  • 11b · Other revenue: COBRA SUBSIDY REIMBURS

    total $165,058 · related or exempt $165,058

  • 11c · Other revenue: STOP LOSS REIMBURSEMEN

    total $97,388 · related or exempt $97,388

  • 11d · All other revenue

    total $280 · related or exempt $280

  • 11e · Other revenue, total

    $427,901

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,550,858

  • 11b · Fees: legal

    total $48,649

  • 11c · Fees: accounting

    total $30,938

  • 11f · Fees: investment management

    total $1,950

  • 11g · Fees: other

    total $751,758

  • 13 · Office expenses

    total $8,018

  • 19 · Conferences, conventions and meetings

    total $16,820

  • 23 · Insurance

    total $7,313

  • 24a · Other expenses: DUES ASSESSMENT

    total $5,549

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,862,963 · end of year $2,686,694

  • 4 · Accounts receivable

    beginning of year $778,542 · end of year $877,843

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,804 · end of year $11,804

  • 11 · Investments: publicly traded securities

    beginning of year $787,796 · end of year $828,232

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,148 · end of year $17,205

  • 19 · Deferred revenue

    beginning of year $33,422 · end of year $33,422

  • 25 · Other liabilities

    beginning of year $366,734 · end of year $426,234

  • 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 $3,003,801 · end of year $3,927,712

Mission and programs · 2023

Mission

TO PROVIDE HEALTH (MEDICAL, DENTAL, VISION, AND PRESCRIPTION), LIFE, ACCIDENTAL DEATH & DISMEMBERMENT COVERAGE AND DISABILITY BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS WHO WORK, OR WORKED, IN THE SHEET METAL INDUSTRY AS MEMBERS OF LOCAL 40, OR WHO WORKED IN SUPPORT OF THE INDUSTRY.

Activities or mission (Part I)

TO PROVIDE HEALTH, LIFE, ACCIDENTAL DEATH & DISMEMBERMENT COVERAGE AND DISABILITY BENEFITS TO PARTICIPANTS AND THEIR ELIGIBLE DEPENDENTS WHO WORK, OR WORKED, IN THE SHEET METAL INDUSTRY AS MEMBERS OF LOCAL 40, OR WHO WORKED IN SUPPORT OF THE INDUSTRY.

  • TO PROVIDE MAJOR MEDICAL, HOSPITALIZATION, DISABILITY, LIFE INSURANCE, AND OTHER HEALTH BENEFITS TO ELIGIBLE PARTICIPANTS OF THIS FUND AND THEIR BENEFICIARIES.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jason Sherman

    LABOR TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • John Nimmons

    LABOR TRUSTEE

    Total calculated
    $241,094
    From this org
    $0
    From related orgs
    $133,512
    Other
    $107,582
    Hours/week
    0.3 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,512 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $71,036 related
    Nontaxable benefits
    $0 + $36,546 related
    Filer's total
    $0 + $241,094 related

  • Fred Descy

    LABOR TRUSTEE

    Total calculated
    $221,916
    From this org
    $0
    From related orgs
    $117,121
    Other
    $104,795
    Hours/week
    0.3 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $117,121 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $68,249 related
    Nontaxable benefits
    $0 + $36,546 related
    Filer's total
    $0 + $221,916 related

  • John M Beal

    LABOR TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • Michael Thompson

    MANAGEMENT TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Lynne A Kleeberg

    MANAGEMENT TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • Kenneth R Kleeberg

    MANAGEMENT TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

  • John Lucchessi

    MANAGEMENT TRUSTEE

    Total calculated
    $0
    Hours/week
    0.3

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

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.

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 corporations and trusts

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

  • A&T FUND

  • AIR BALANCING SERVICE CO

  • ARCHITECTURAL SHEET METAL

  • BHI ENERGY SPECIALTY SERVICES

  • COMMERCIAL ROOFING & CONTRACTING INC

  • EAGLE RIVET ROOF SERVICES CORP

  • ENVIRONMENTAL TESTING & BALANCING INC

  • ERNEST PETERSON INC

  • F & F MECHANICAL ENTERPRISES INC

  • FFFC OF CT

  • GOLD SEAL ROOFING LLC

  • GREENWOOD INDUSTRIES INC COMPANIES

  • HEALTH FUND BUY-IN

  • JAMES E BRENNAN CO INC

  • JHS RESTORATION INC

  • KLEEBERG SHEET METAL INC

  • LK SHEET METAL INC

  • LABCO AIR & WATER BALANCING LLC

  • MASSEY'S PLATE GLASS AND ALUMINUM INC

  • OFFSHORE CONSTRUCTION INC

  • PALMER SHEET METAL CO INC

  • SASMI

  • SOUTHERN NEW ENGLAND INSTALLERS LLC

  • THE HILLERY COMPANY

  • THE IMPERIAL COMPANY INC

  • TITAN ROOFING INC

  • TRUEFLOW TESTING & BAL LLC

  • WING'S TESTING & BALANCE CO

  • YANKEE SHEET METAL COMPANY INC

  • YOUNG DEVELOPERS LLC

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202443139349301304

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