Overview
What is Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii?
Lockheed Martin Corp Benefit Trust for Collectively Bargained Employees Veba II is a nonprofit organization, specifically a welfare benefit trust, that serves retired employees and their dependents who have collectively bargained with Lockheed Martin Corp. Its primary objective is to provide medical benefit coverage funding, ensuring these individuals have access to necessary healthcare services. The trust is situated in Bethesda, Maryland, specifically at 6801 Rockledge Drive MP 150. The trust's primary exempt purpose is to support its members by providing medical benefit coverage, ensuring their well-being in retirement.
Is Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii legitimate?
Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii is a legitimate nonprofit organization registered as a 501(c)(9) entity. Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii 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 Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii?
The Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba II has a primary objective to serve as a funding source. This is done to provide medical benefit coverage for its retired employees who are part of collective bargaining agreements. The trust extends this coverage to their dependents as well. The Veba Trust ensures the financial support for the medical benefits of its eligible members, enhancing their post-retirement health care security.
Who is the CEO of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii?
Michael Schaffer is the Principal Officer of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii.
What is the revenue of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii?
Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii's revenue in 2022 was -$76,145,633.
Who are the executives of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $72,562
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii?
Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii
The Lockheed Martin Corp Benefit Trust for Collectively Bargained Employees Veba II is established with a primary mission to serve as a resource for funding medical benefit coverage. This mission is extended to collectively bargained retired employees and their covered dependents. The trust aims to provide a reliable financial support system, ensuring these individuals have access to necessary medical benefits, thereby enhancing their well-being.
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Impact
October, 2024
Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba II plays a significant role in supporting the healthcare needs of retired employees who have been part of collective bargaining agreements. By providing a dedicated funding source for medical benefits, this welfare benefit trust ensures that eligible retirees and their covered dependents have access to essential healthcare services.
The trust is instrumental in alleviating financial burdens associated with medical costs for retirees, facilitating a smoother transition into retirement for those who have dedicated their careers to the organization. By prioritizing medical benefit coverage, the trust contributes to the overall well-being of retired employees, enhancing their quality of life during retirement.
Additionally, the existence of the Veba II demonstrates a commitment to honoring the agreements made during the collective bargaining process, reinforcing the importance of these arrangements in providing long-term security and support for retired workers. Ultimately, this trust plays a vital role in ensuring that retirees remain healthy and supported throughout their later years.
This information is meant to be a general summary of Lockheed Martin Corp Benefit Trust For Collectively Bargained Employees Veba Ii. 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: -$89,271,061
- Program Service Revenue: $12,487,451
- Gross Receipts: $250,138,426
Assets and Liabilities:
- Total Assets: $622,767,478
- Total Liabilities: $301,845
- Net Assets: $622,465,633
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTIONS
Revenue
$12,487,451
Organization Details
Founding Year
1989
Phone
(301) 571-7155Principal Officer
Michael Schaffer
Main Address
6801 ROCKLEDGE DRIVE MP 150, BETHESDA, MD, 20817
NTEE Category
Code: Y40 - Mutual benefit
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