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Nonprofiteer
← SHEET METAL WORKERS INTERNATIONAL SCHOLARSHIP FUND

Form 990 for tax year 2023

Filed by SHEET METAL WORKERS INTERNATIONAL SCHOLARSHIP FUND.

Totals

Total revenue
$912,043
Total expenses
$552,497
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$566,918
Investment income
$340,679
Other revenue
$4,446
Total assets, end of year
$5,343,601
Total liabilities, end of year
$1,632,869
Net assets or fund balances, end of year
$3,710,732
Program services expenses (Part IX)
$499,362
Management and general expenses
$53,135
Fundraising expenses
$0
Program service expenses (Part III)
$499,362

Program services were 90.4% 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.

  • 2a · Program service revenue: EMPLOYER CONTRIBUTIONS

    total $566,918 · related or exempt $566,918

  • 3 · Investment income

    total $207,065 · excluded $207,065

  • 7a · Gross sales of assets other than inventory

    securities $482,284

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

    securities $348,670

  • 7c · Gain or loss

    securities $133,614

  • 7d · Net gain or loss

    total $133,614 · excluded $133,614

  • 11a · Other revenue: SCHOLARSHIP REFUNDS

    total $4,446 · related or exempt $4,446

  • 11e · Other revenue, total

    $4,446

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $491,605 · program services $491,605

  • 7 · Other salaries and wages

    total $7,757 · program services $7,757

  • 11b · Fees: legal

    total $10,615 · management and general $10,615

  • 11c · Fees: accounting

    total $16,200 · management and general $16,200

  • 11f · Fees: investment management

    total $12,730 · management and general $12,730

  • 13 · Office expenses

    total $87 · management and general $87

  • 19 · Conferences, conventions and meetings

    total $478 · management and general $478

  • 21 · Payments to affiliates

    total $3,139 · management and general $3,139

  • 23 · Insurance

    total $9,886 · management and general $9,886

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $292,330 · end of year $389,987

  • 4 · Accounts receivable

    beginning of year $47,614 · end of year $48,559

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,444 · end of year $2,677

  • 11 · Investments: publicly traded securities

    beginning of year $4,643,967 · end of year $4,902,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,755 · end of year $18,203

  • 18 · Grants payable

    beginning of year $1,735,422 · end of year $1,648,909

  • 25 · Other liabilities

    beginning of year -$58,006 · end of year -$34,243

  • 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 $3,307,184 · end of year $3,710,732

Mission and programs · 2023

Mission

TO PROVIDE SCHOLARSHIPS TO ITS MEMBERS OF THE INTERNATIONAL ASSOCIATION AND SHEET METAL INTERNATIONAL TO SHEET METAL, AIR, RAIL AND TRANSPORTATION WORKERS AND INDIVIDUALS WITHIN THEIR IMMEDIATE FAMILIES.

Activities or mission (Part I)

TO PROVIDE SCHOLARSHIPS TO ITS MEMBERS.

  • TO PROVIDE SCHOLARSHIPS TO ITS MEMBERS OF THE INTERNATIONAL ASSOCIATION AND SHEET METAL INTERNATIONAL TO SHEET METAL, AIR, RAIL AND TRANSPORTATION WORKERS AND INDIVIDUALS WITHIN THEIR IMMEDIATE FAMILIES.

    Expenses $491,605 · Revenue $571,364

  • SALARIES AND WAGES.

    Expenses $7,757

As filed on the 2023 return.

Listed in Part VII

  • Joseph Sellers Jr

    UNION TRUSTEE

    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

    UNION TRUSTEE

    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

  • George Welsch

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • William Zahner

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Andrew Caccholi

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Richard Pellar

    EMPLOYER TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Scott Parks

    UNION TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joseph Powell

    PLAN ADMINISTRATOR

    Total calculated
    $451,684
    From this org
    $0
    From related orgs
    $341,684
    Other
    $110,000
    Hours/week
    2 + 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
31 March 2025
IRS schema version
2023v6.0
Source object
202500939349301560

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