Overview
What is The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust?
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust is a nonprofit organization located at 569 Woods Hole Road, Woods Hole, Massachusetts. Its primary mission is to provide medical benefits for eligible retirees and active employees under the Woods Hole Oceanographic Medical Benefit Plan. This plan ensures that retirees who meet the specified eligibility conditions continue to receive employer-provided medical coverage. For active employees, benefits are offered through a group medical plan. The trust aims to support the well-being of individuals associated with the Woods Hole Oceanographic Institution.
Is The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust legitimate?
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits 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 The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust?
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust is committed to providing medical benefits for eligible retirees and active employees under the Woods Hole Oceanographic Medical Benefit Plan. The main goal of this trust is to ensure the continuation of employer-provided medical coverage for retirees who meet the plan's eligibility conditions. For active employees, benefits are offered through a group medical plan. The trust aims to support the health and wellbeing of its members by providing necessary medical coverage. It serves as a safety net, ensuring that individuals affiliated with the Woods Hole Oceanographic Institution continue to receive medical benefits, even after retirement.
What is the revenue of The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust?
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust's revenue in 2023 was $8,454,893.
Who are the executives of The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits 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 The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust?
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust, hereafter referred to as the Trust, is a mission-driven organization dedicated to providing medical benefits for eligible retirees and active employees. Its primary goal is to continue offering employer-provided medical coverage to retired individuals who meet the Trust's eligibility criteria, ensuring their health needs are met even after they step away from their employment with the Woods Hole Oceanographic Institution. For the active employees, the Trust offers medical benefits through a group medical plan, ensuring they have comprehensive health coverage during their employment. By providing these medical benefits, the Trust contributes to the overall well-being of its beneficiaries, enabling them to focus on their professional and personal lives with peace of mind.
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Impact
October, 2024
The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits Trust plays a crucial role in ensuring the financial security and health of its retirees and active employees. By providing medical benefits under the Woods Hole Oceanographic Retiree Medical Plan, it offers a vital safety net for those who have dedicated their careers to this institution.
Eligible retirees gain access to continued employer-provided medical coverage after retirement, alleviating concerns about healthcare costs in their later years. For active employees, the plan facilitates access to a group medical plan, ensuring that they receive comprehensive healthcare benefits while working.
Overall, the trust enhances employee welfare, promotes loyalty and retention within the workforce, and significantly contributes to the well-being of the community associated with the Woods Hole Oceanographic Institution.
This information is meant to be a general summary of The Woods Hole Oceanographic Institution Tax Exempt Employee Welfare Benefits 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 2023.
- Investment Income: $286,893
- Program Service Revenue: $7,949,420
- Gross Receipts: $11,044,238
Assets and Liabilities:
- Total Assets: $10,117,999
- Total Liabilities: $1,699,514
- Net Assets: $8,418,485
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RETIREE CONTRIBUTIONS
Revenue
$524,300
EMPLOYEE CONTRIBUTIONS
Revenue
$3,531,537
EMPLOYER CONTRIBUTIONS
Revenue
$3,893,583
Organization Details
Founding Year
1993
Principal Officer
Peter De Menocal
NTEE Category
Code: Y40 - Mutual benefit
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