Overview
What is Yale University Retiree Health Benefits Coverage Trust?
The Yale University Retiree Health Benefits Coverage Trust is a nonprofit organization that supports Yale University's objectives and philosophies. Based in New Haven, Connecticut, the trust is funded by the university and manages assets for the purpose of covering retired employees' health benefits. This includes expenses for hospitalization, physician services, prescription coverage, major medical costs beyond Medicare, and Medicare Part B premiums. The trust's resources promote the wellbeing of Yale's retired workforce.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating.
Yale University Retiree Health Benefits Coverage Trust has received a low rating primarily due to its lack of independent board members and missing financial statements. With a high program expense ratio of 79.65%, the organization demonstrates a strong commitment to utilizing its resources for its intended purpose, which is beneficial for the retirees it serves. However, the absence of transparency in financial reporting is a significant concern.
The organization has implemented policies for conflicts of interest, whistleblower protections, and document retention, indicating a degree of governance. However, the lack of independent oversight raises questions about accountability. Furthermore, the missing website listed on their tax form and the failure to post tax documents on their website reflect a need for improved transparency to enhance stakeholder trust. Overall, while there are strengths in program spending and governance policies, the shortcomings in board structure and financial disclosure need addressing.
This AI summary has been generated from information found on Charity Navigator.
Is Yale University Retiree Health Benefits Coverage Trust legitimate?
Yale University Retiree Health Benefits Coverage Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Yale University Retiree Health Benefits Coverage 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
For more financial information, click here
What is the mission statement of Yale University Retiree Health Benefits Coverage Trust?
The Yale University Retiree Health Benefits Coverage Trust is dedicated to upholding the objectives and values of Yale University. By managing and investing assets donated by the university, the trust works towards promoting the interests of Yale University. The primary focus of the trust is to provide financial support for the health benefits of retired employees, which includes coverage for hospitalization, physician services, prescription medication, and Medicare premiums in excess of the basic Medicare plan. The trust's mission aligns with Yale University's commitment to ensuring the wellbeing of its community.
Who is the CEO of Yale University Retiree Health Benefits Coverage Trust?
Unavailable
What is the revenue of Yale University Retiree Health Benefits Coverage Trust?
Yale University Retiree Health Benefits Coverage Trust's revenue in 2022 was $110,596,145.
Who are the executives of Yale University Retiree Health Benefits Coverage 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 Yale University Retiree Health Benefits Coverage Trust?
Yale University Retiree Health Benefits Coverage Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Yale University Retiree Health Benefits Coverage Trust
The Yale University Retiree Health Benefits Coverage Trust is a charitable entity established to advance the goals and values of Yale University. As a tax-exempt organization under IRC section 501(c)(3), its primary objective is to foster and uphold the interests of Yale University. The Trust manages and invests assets donated by the university, which are then utilized to cover health benefit expenses for retired employees. These benefits encompass various medical services, such as hospitalization, physician care, prescription coverage, and major medical expenses that surpass Medicare coverage. In some instances, the Trust also contributes towards Medicare Part B premiums. The Trust is dedicated to ensuring the well-being of retired Yale University employees by providing comprehensive health coverage.
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Impact
October, 2024
The Yale University Retiree Health Benefits Coverage Trust plays a crucial role in ensuring that retired employees have access to essential healthcare services. By managing and investing assets specifically donated by Yale University, the trust funds a variety of health benefits tailored to the needs of retirees. This includes coverage for hospitalization, physician services, and prescription medications, as well as major medical expenses that exceed Medicare coverage.
Furthermore, the trust assists with all or part of Medicare Part B premiums, alleviating some financial burdens on retirees. This commitment to supporting former employees contributes significantly to their overall well-being, allowing them to maintain access to necessary medical care without the stress of overwhelming costs. By promoting these objectives, the trust not only supports the mission of Yale University but also reinforces the institution's commitment to its community, ensuring that those who dedicated their careers to the university can enjoy a secure and healthy retirement.
This information is meant to be a general summary of Yale University Retiree Health Benefits Coverage 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: $28,842,796
- Program Service Revenue: $81,532,479
- Gross Receipts: $656,500,656
Assets and Liabilities:
- Total Assets: $755,296,263
- Total Liabilities: $0
- Net Assets: $755,296,263
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Participant Contribution
Revenue
$8,251,479
Employer Contribution
Revenue
$73,281,000
Organization Details
Founding Year
1994
Phone
(203) 432-5530Main Address
C/O Yale University PO Box 208239, New Haven, CT, 065208239
NTEE Category
Code: Y430 - Mutual benefit
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