Overview
What is John Hancock Life Ins Co Employee Welfare Trust?
The John Hancock Life Ins Co Employee Welfare Trust serves as a voluntary employee's beneficiary association trust (VEBA), funding and managing the self-insured benefits for certain John Hancock Life Insurance Company employees, their dependents, and retirees. This trust, established with the purpose of administering and financing health and welfare benefits, caters to the wellbeing of the specified group within the organization.
Is John Hancock Life Ins Co Employee Welfare Trust legitimate?
John Hancock Life Ins Co Employee Welfare Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. John Hancock Life Ins Co Employee Welfare 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of John Hancock Life Ins Co Employee Welfare Trust?
The John Hancock Life Ins Co Employee Welfare Trust serves as a voluntary beneficiary association trust, responsible for funding and managing the self-insured benefits of certain John Hancock Life Ins Co employees, their dependents, and retirees. Established as a VEBA, its mission revolves around providing essential benefits to the eligible workforce, ensuring their wellbeing and financial security.
Who is the CEO of John Hancock Life Ins Co Employee Welfare Trust?
George Mccarthy is the Trustee of John Hancock Life Ins Co Employee Welfare Trust.
What is the revenue of John Hancock Life Ins Co Employee Welfare Trust?
John Hancock Life Ins Co Employee Welfare Trust's revenue in 2022 was $83,538,760.
Who are the executives of John Hancock Life Ins Co Employee Welfare Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for John Hancock Life Ins Co Employee Welfare Trust?
John Hancock Life Ins Co Employee Welfare Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of John Hancock Life Ins Co Employee Welfare Trust
The John Hancock Life Ins Co Employee Welfare Trust is a voluntary employee beneficiary association trust, established to manage and finance the self-insured benefits of certain John Hancock Life Ins Co employees, their dependents, and retirees. This trust serves as a vital source of support for the beneficiaries, ensuring they receive essential benefits that are not covered through regular insurance. The mission of the John Hancock Life Ins Co Employee Welfare Trust is to provide and administer these self-insured benefits, safeguarding the wellbeing of its members.
The Trust plays a crucial role in the lives of its beneficiaries, offering them peace of mind and financial security. By pooling resources and administering benefits collectively, the Trust is able to offer more comprehensive and flexible coverage options than traditional insurance plans. These benefits can include health care, disability insurance, and other essential services, providing vital support to employees and retirees in need.
In summary, the John Hancock Life Ins Co Employee Welfare Trust acts as a safety net for its beneficiaries, ensuring they have access to the self-insured benefits they require. Through its mission, the Trust empowers its members to focus on their health and wellbeing, while alleviating the financial burden of managing their own insurance coverage.
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Impact
October, 2024
John Hancock Life Ins Co Employee Welfare Trust plays a crucial role in providing and managing self-insured benefits for eligible employees, dependents, and retirees of John Hancock Life Ins Co. By operating as a Voluntary Employee's Beneficiary Association (VEBA), it ensures that members have access to essential benefits tailored to their needs. The trust addresses various welfare benefits, creating a safety net for employees during their tenure and into retirement. This fosters a sense of security and well-being among the workforce, ultimately contributing to employee satisfaction and engagement within the organization. Additionally, by focusing on a mutual benefit model, the trust reinforces the commitment of John Hancock to its employees, thereby enhancing loyalty and morale.
This information is meant to be a general summary of John Hancock Life Ins Co Employee Welfare 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: $3,987,052
- Program Service Revenue: $79,551,708
- Gross Receipts: $83,538,760
Assets and Liabilities:
- Total Assets: $119,835,629
- Total Liabilities: $198,577,736
- Net Assets: -$78,742,107
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$54,801,579
EMPLOYEE CONTRIBUTIONS
Revenue
$24,750,129
Organization Details
Founding Year
1991
Phone
(617) 572-0733Principal Officer
George Mccarthy
Main Address
200 BERKELEY STREET C-5, BOSTON, MA, 02116
NTEE Category
Code: Y43 - Mutual benefit
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