Overview
What is Granite Group Insurance Trust?
The Granite Group Insurance Trust, located at 105 North Main Street, Barre, VT, 05641, is a nonprofit organization that primarily focuses on delivering various welfare benefit insurance coverages for member employers and their employees. The trust, governed by unionized labor contracts, administers a multi-employer group plan and provides medical, dental, vision, life, and disability insurance coverages. The Trust also offers Medicare supplement plan coverages for retired members. The organization, with a team of 14 individuals, acts as a signatory to a collective bargaining agreement.
What are the reviews and ratings of this charity?
Granite Group Insurance Trust is not currently rated by Charity Navigator. The absence of a rating stems from its status as a non-501(c)(3) organization, which limits the methodologies applicable for assessment, such as Accountability & Finance and Impact & Measurement. This does not imply a positive or negative perspective on the organization’s operations.
The organization is classified as an independent entity but lacks detailed financial information such as revenue, expenses, and key persons' salaries. Historical Charity Navigator assessments focused primarily on financial accountability, but these are not applicable here. Current evaluation requires 501(c)(3) status, which Granite Group does not possess.
As there are no user reviews on GreatNonprofits, community feedback is unavailable. The information limitations make it challenging to gauge public sentiment or identify commonly discussed strengths or weaknesses within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Granite Group Insurance Trust legitimate?
Granite Group Insurance Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Granite Group Insurance Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $81,079
Professional Fundraising Fees: $0
Other Salaries and Wages: $57,775
For more financial information, click here
What is the mission statement of Granite Group Insurance Trust?
The Granite Group Insurance Trust focuses on offering various insurance coverages to employer members and their employees. These coverages include medical, dental, vision, life, and disability insurance. The trust is signatory to a collective bargaining agreement. The medical insurance plans form the primary source of revenue and expenses for the trust. They administer a multi-employer group plan, which is governed by unionized labor contracts.
Who is the CEO of Granite Group Insurance Trust?
Anne Houle is the Chairman of Granite Group Insurance Trust.
What is the revenue of Granite Group Insurance Trust?
Granite Group Insurance Trust's revenue in 2022 was $14,319,099.
Who are the executives of Granite Group Insurance Trust and what are their salaries?
The average compensation at Granite Group Insurance Trust during 2022 was $9,918. There are 14 employees and 8 volunteers at Granite Group Insurance Trust.
Here are 9 key members and their salaries:
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- Compensation: $77,802
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Where can I find the form 990 for Granite Group Insurance Trust?
Granite Group Insurance Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Granite Group Insurance Trust
The Granite Group Insurance Trust, a significant provider of welfare benefit insurance coverages, is committed to safeguarding the health and wellbeing of its member employers and employees. With a primary focus on medical insurance, the Trust extends its coverage to include dental, vision, life, and disability insurance. Incorporated into its mission, the Trust also offers Medicare supplement plan coverages for retired members, ensuring comprehensive support for its community.
Under the collective bargaining agreements that govern the Trust, it administers a multi-employer group plan. The medical coverages form the backbone of the Trust's revenue and expenses. By pooling resources and expertise, the Granite Group Insurance Trust is able to provide competitive and affordable insurance solutions to its members. In doing so, it fosters a collaborative environment that benefits both employers and employees, ensuring they have access to essential healthcare services.
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Impact
October, 2024
Granite Group Insurance Trust delivers critical welfare benefit insurance coverages, significantly impacting member employers and their employees. By providing essential medical, dental, vision, life, and disability insurance, they ensure that employees have access to vital healthcare resources. The administration of a multi-employer group plan, aligned with unionized labor contracts, fosters a collaborative environment that strengthens employee benefits across the board.
The trust's medical coverages serve as the primary source of revenue and expenses, reflecting its central role in supporting the health and well-being of its members. Additionally, by offering Medicare supplement plans for retired members, Granite Group Insurance Trust ensures that older employees continue to receive necessary health coverage as they transition into retirement. This comprehensive approach to welfare benefits underscores their commitment to mutual benefit, enhancing the overall quality of life for individuals and families within their network.
This information is meant to be a general summary of Granite Group Insurance Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $38
- Program Service Revenue: $14,319,061
- Gross Receipts: $14,319,099
Assets and Liabilities:
- Total Assets: $1,468,905
- Total Liabilities: $9,651
- Net Assets: $1,459,254
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEDICAL, DENTAL, VISION PROGRAMS
Revenue
$13,769,482
LIFE & DISABILITY PROGRAMS
Revenue
$413,619
ADMINISTRATIVE REVENUE
Revenue
$135,960
Organization Details
Founding Year
1947
Phone
(802) 476-3291Principal Officer
Anne Houle
Main Address
105 NORTH MAIN STREET 302, BARRE, VT, 05641
NTEE Category
Code: Y40 - Mutual benefit
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