Overview
What is Solvay Companies Employee Welfare Trust?
Solvay Companies Employee Welfare Trust is a nonprofit entity situated in Princeton, New Jersey, specifically at 504 Carnegie Center. Its primary mission is to offer benefits to individuals enrolled in the Retiree Medical Plan. More specifically, this trust is dedicated to providing support to participants of the Solvay Companies Retiree Medical and Life Insurance Plan, a plan that was previously known as Cytec Industries, Inc. Retiree Medical Plan. The Trust's activities are focused on offering benefits to those who fall under this plan, ensuring their well-being during retirement.
Is Solvay Companies Employee Welfare Trust legitimate?
Solvay Companies Employee Welfare Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Solvay Companies 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 Solvay Companies Employee Welfare Trust?
The Solvay Companies Employee Welfare Trust is committed to fulfilling its mission, which primarily revolves around providing benefits to participants enrolled in the Retiree Medical Plan. Originally established for retirees of Cytec Industries, Inc., the trust now extends these benefits to individuals under the Solvay Companies Retiree Medical and Life Insurance Plan. The primary goal of the trust is to ensure that these beneficiaries have access to the necessary resources and support, thus enhancing their overall well-being. The trust continually strives to uphold and maintain this commitment, ensuring the continuous provision of benefits to its participants.
Who is the CEO of Solvay Companies Employee Welfare Trust?
Michael Radossich is the Principal Officer of Solvay Companies Employee Welfare Trust.
What is the revenue of Solvay Companies Employee Welfare Trust?
Solvay Companies Employee Welfare Trust's revenue in 2022 was $4,332,323.
Who are the executives of Solvay Companies Employee Welfare Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $17,941
- Related: $0
- Other: $0
Where can I find the form 990 for Solvay Companies Employee Welfare Trust?
Solvay Companies Employee Welfare Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Solvay Companies Employee Welfare Trust
Solvay Companies Employee Welfare Trust, as a benevolent entity, is dedicated to fulfilling its mission. This mission primarily revolves around providing benefits to participants of the Solvay Companies Retiree Medical and Life Insurance Plan, which was previously known as the Cytec Industries, Inc. Retiree Medical Plan. The trust's purpose is to ensure the well-being of these retirees by offering them necessary medical benefits. By doing so, it contributes to their overall health and quality of life in their post-employment phase. The trust's role is instrumental in offering support and care to those who have contributed significantly to the company throughout their career.
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Impact
October, 2024
The Solvay Companies Employee Welfare Trust significantly contributes to the well-being of retirees by providing essential benefits through the Retiree Medical and Life Insurance Plan. Based in Princeton, NJ, the trust supports participants by ensuring they have access to vital medical coverage and life insurance, enhancing their security and peace of mind during retirement. By upholding this mission, the trust plays a crucial role in addressing the health and financial needs of former employees, thus fostering a sense of mutual benefit and community among past employees of the Solvay Companies, including those formerly under Cytec Industries, Inc.
This information is meant to be a general summary of Solvay Companies 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: $90,308
- Program Service Revenue: $4,091,175
- Gross Receipts: $18,444,340
Assets and Liabilities:
- Total Assets: $8,157,487
- Total Liabilities: $0
- Net Assets: $8,157,487
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$3,483,690
EMPLOYER CONTRIBUTIONS
Revenue
$607,485
Organization Details
Founding Year
1994
Phone
(609) 860-4000Principal Officer
Michael Radossich
Main Address
504 CARNEGIE CENTER, PRINCETON, NJ, 08540
NTEE Category
Code: Y40 - Mutual benefit
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