Overview
What is Bae Systems Funded Retiree Benefit Trust?
Bae Systems Funded Retiree Benefit Trust is a nonprofit organization based in Falls Church, Virginia. Its primary mission is to prefund medical and other welfare benefits for retirees of the organization and its affiliated entities. The trust generates revenue through participant and employer contributions, investment income, Medicare reimbursements, and unrelated business income tax refunds. The funds are utilized to pay out benefits to retirees as per the underlying benefit plan and cover administrative expenses and taxes. The organization serves as a voluntary employees' benefit association, ensuring financial security for its retired members.
Is Bae Systems Funded Retiree Benefit Trust legitimate?
Bae Systems Funded Retiree Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Bae Systems Funded Retiree Benefit 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: $89,300
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Bae Systems Funded Retiree Benefit Trust?
The Bae Systems Funded Retiree Benefit Trust is a voluntary organization with a mission to fund welfare benefits for retirees, as per IRC Section 501(C)(9). This organization serves to prefund medical and other welfare benefits for retirees of the sponsor of the trust and affiliated entities. The primary goal is to cover the expenses related to providing these benefits to retirees, including administrative costs and taxes, using contributions from participants and employers, investment income, Medicare reimbursements, and unrelated business income tax refunds. The Trust's mission is centered around providing financial support to retirees, ensuring they can maintain their wellbeing after retirement.
Who is the CEO of Bae Systems Funded Retiree Benefit Trust?
Jodi Coulter is the Trustee of Bae Systems Funded Retiree Benefit Trust.
What is the revenue of Bae Systems Funded Retiree Benefit Trust?
Bae Systems Funded Retiree Benefit Trust's revenue in 2022 was -$11,839,555.
Who are the executives of Bae Systems Funded Retiree Benefit Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $89,300
- Related: $0
- Other: $0
Where can I find the form 990 for Bae Systems Funded Retiree Benefit Trust?
Bae Systems Funded Retiree Benefit Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bae Systems Funded Retiree Benefit Trust
The Bae Systems Funded Retiree Benefit Trust is a voluntary employees' beneficiary association with a mission to fund medical and other welfare benefits for its retired members. In line with Internal Revenue Code Section 501(C)(9), this organization is dedicated to providing financial assistance for retirement benefits to the retirees of the trust's sponsor and affiliated entities. The trust's objective is to prefund these welfare benefits, covering expenses such as retiree benefits payments, administrative expenses, and taxes owed. The revenue for this trust comes from participant and employer contributions, investment income, Medicare reimbursements, and unrelated business income tax refunds. Overall, the Bae Systems Funded Retiree Benefit Trust is committed to ensuring the financial well-being of its retired members by providing the necessary welfare benefits.
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Impact
October, 2024
The BAE Systems Funded Retiree Benefit Trust plays a crucial role in supporting the welfare of retirees through the provision of medical and other benefits. By pre-funding these benefits, the Trust ensures that retirees from BAE Systems and affiliated entities receive the necessary healthcare support as they transition into retirement. This proactive funding approach helps to stabilize future benefit delivery and alleviate financial burdens on retirees during their later years.
The Trust generates revenue through various means, including participant and employer contributions, investment income, and Medicare reimbursements. This diversified funding strategy allows it to maintain a solid financial foundation to cover the expenses associated with healthcare benefits and administrative costs. Additionally, the Trust's reliance on contributions and investment returns highlights its commitment to sustainable financial practices, ensuring that retirees can rely on these benefits as intended.
In essence, the BAE Systems Funded Retiree Benefit Trust serves as a vital resource for retirees, promoting their well-being and enhancing their quality of life through reliable and accessible welfare benefits.
This information is meant to be a general summary of Bae Systems Funded Retiree Benefit 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: -$12,784,906
- Program Service Revenue: $945,351
- Gross Receipts: $184,875,565
Assets and Liabilities:
- Total Assets: $164,571,811
- Total Liabilities: $0
- Net Assets: $164,571,811
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$524,064
PARTICIPANT CONTRIBUTIONS
Revenue
$421,287
Organization Details
Founding Year
1992
Phone
(571) 461-6000Principal Officer
Jodi Coulter
Main Address
2941 FAIRVIEW PARK DRIVE FLOOR 13, FALLS CHURCH, VA, 22042
NTEE Category
Code: Y43 - Mutual benefit
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